Crypto Whales Shuffle 200 Million XRP Tokens Amid Bitcoin Struggle To Reclaim $63,000
The post Crypto Whales Shuffle 200 Million XRP Tokens Amid Bitcoin Struggle To Reclaim $63,000 appeared first on Coinpedia Fintech News
A lot has happened in the crypto industry lately, with crypto whales moving significant amounts of Ripple (XRP) tokens and Bitcoin (BTC) struggling to reclaim $63,000. Meanwhile, crypto investors have taken advantage of the recent market downtrend to accumulate more ETFSwap (ETFS) tokens at its current price of $0.0183.
Why Crypto Investors Are Accumulating More ETFSwap (ETFS)
ETFS is the native token of ETFSwap (ETFS), a blockchain-based investment platform that tokenizes exchange-traded funds (ETFs) and makes them available for on-chain trading. The decentralized finance (DeFi) platform provides an easy way for these crypto investors to partake in the crypto revolution since crypto ETFs like the Spot Bitcoin ETFs will be tokenized and can be traded on ETFSwap (ETFS).
Crypto investors can diversify their portfolios by investing in and gaining exposure to several other tokenized ETFs on the trading platform. Users will also get access to various commodities, including gold, silver, crude oil, and agricultural products, among others. The ETFSwap (ETFS) token is integral to these offerings, as investors will use the crypto token to swap for their preferred ETF or commodity.
Investors can also swap their ETFSwap (ETFS) holdings for other crypto assets, with the trading platform allowing users to invest in cryptocurrencies and traditional assets in one place. The ETFSwap (ETFS) token bridges the traditional finance (TradFi) and DeFi world as users can easily convert their ETFs to crypto assets and vice versa using the crypto token.
Traditional investors have also accumulated ETFSwap (ETFS) during this recent market downtrend because the DeFi platform offers them a more accessible and secure way to perform ETF transactions. These investors will no longer be subjected to overwhelming customer verification processes, with Know-Your-Customer (KYC) requirements being non-mandatory.
Users of the trading platform will also enjoy leveraged trading on their ETF trades, with ETFSwap (ETFS) offering up to 50x leverage on each trade. The platform offers perpetual trading services, meaning that investors can now bet on the future price of an ETF without owning the asset and can hold such derivative contracts for as long as they like.
Opportunities on ETFSwap (ETFS) are boundless, and investors can make the most of their investments on the platform. Users can earn high yields by staking their ETFS tokens and other cryptocurrencies on the platform. Staking rewards for ETFS is up to 80% annual percentage yield (APY).
ETFSwap (ETFS) also plans to launch its own ETF in 2025, providing another opportunity for investors to maximize their gains in this bull run. Investing in the ETFS token at its current price of $0.0183 is also an investment opportunity.
Ripple (XRP) Tokens On The Move While Bitcoin (BTC) Struggles
The on-chain analytics platform Whale Alert recently drew the crypto community’s attention to a crypto whale who transferred 200 million Ripple (XRP) tokens to an unknown wallet. Considering the timing of the transaction, some in the Ripple (XRP) community assumed that this transaction was Ripple’s monthly escrow unlock.
However, a closer examination of the on-chain data shows that these Ripple (XRP) tokens weren’t part of Ripple’s escrowed funds. Such a transaction could cause a significant decline for Ripple (XRP), especially if this crypto whale is looking to offload these Ripple (XRP) holdings.
Meanwhile, Bitcoin (BTC) continues to struggle to reclaim $63,000 as selling pressure on the flagship crypto persists. Several entities, including the US and German governments, are believed to be offloading their Bitcoin (BTC) holdings. This selling pressure caused Bitcoin (BTC) to drop below $60,000 in June.
Following Bitcoin’s (BTC) failure to reclaim $63,000, the flagship crypto is again flirting with the $60,000 support level and risks further declines. Data from CoinMarketCap shows that Bitcoin (BTC) is currently trading at around $60,100.
Conclusion On ETFSwap (ETFS) Being The Better Option
ETFSwap (ETFS) is undoubtedly a better investment option than Bitcoin (BTC) and Ripple (XRP) despite their recent price dip. ETFS has more room to run, unlike Bitcoin (BTC) and Ripple (XRP), which could witness a 3x price gain at most from their current price levels. On the other hand, ETFSwap (ETFS) is poised for a 100x price gain from its discounted price of $0.0183.
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