Ethereum
Whales eye BTC and ETH as XRP declines; ETFSwap gains ground
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Crypto whales are turning to ETFSwap (ETFS) amid stagnant prices for Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP), looking for new investment opportunities.
Despite the launch of several Bitcoin-based spot products and large crypto-whale activities, the prices of Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) have remained stagnant. This stagnation has led crypto whales to look for more viable alternatives, with platforms like ETFSwap (ETFS) emerging as potential solutions.
ETFSwap: ETF trading solution for crypto whales
ETFSwap is the first of its kind blockchain-based platform that has caught the attention of crypto whales in the market. This is because the platform allows users to trade tokenized ETFs backed by real securities from the traditional market. This unique approach offers on-chain anonymity, variable investment conversion between ETFs and crypto, and a wide range of blockchain-enabled features.
ETFSwap provides traders with global access to ETFs in various sectors, including energy, healthcare, technology and commodities. The platform achieves this by integrating the best features of centralized and decentralized markets, eliminating the limitations associated with traditional finance.
Differentiating from traditional trading platforms, ETFSwap provides comprehensive trading services, including market making and perpetual trading, with leverage up to 50x. Additionally, to incentivize its traders, the platform offers several benefits, including 24/7 trading, access to liquidity, permissionless trading, seamless conversion of ETFs to cryptocurrencies, and lower trading costs. reduced trading.
By auditing its smart contract with Cyberscope, one of the largest cybersecurity companies in the crypto market, the platform has solidified its position as a leading crypto asset for crypto whales. Analysts believe that with ETFSwap capitalizing on the hype around Spot Ethereum ETFs, the token could outperform established tokens like Bitcoin, Ethereum, and Ripple’s XRP.
Whales dive deep into Ethereum and Bitcoin
Recent data from on-chain analytics firm Spot On Chain reveals significant movement in Ethereum tokens. On June 11, eleven of the twelve identified crypto wallets withdrew a combined total of approximately 13,059 ETH, with one anonymous wallet withdrawing slightly more at 13,084 ETH. This activity coincides with a seven-year low in the availability of Ethereum on exchanges, according to Glassnode.
Analysts at Spot On Chain suggest that these transactions could be part of over-the-counter (OTC) operations, as they do not have a direct impact on the market price. On the other hand, crypto whales and small investors are growing impatient as Bitcoin trades between $69,000 and $71,000, with no signs of breaking its all-time high from March.
These crypto whales and short-term traders are questioning the price action while expecting a bigger rally due to the effect of ETFs. Veteran Bitcoin investor WhalePanda, who closely follows the disparity between ETF flows and the subdued spot market response, highlighted the lack of correlation between the two. In terms of price, as of this writing, Ethereum and Bitcoin are trade at $3,500 and $67,356 respectively.
XRP Whales Accumulate Despite Falling Network Activity
As the price of Ripple’s This bullish behavior of crypto-whales contrasts with the overall decline in Ripple network activity.
On June 11, on-chain data from Santiment revealed a significant drop in active Ripple addresses, down almost 40% to around 19,500. Interestingly, crypto whales holding between 1 million and 1 billion XRP, as well as those holding even larger volumes of over 1 billion, actually increased their holdings by almost 2% between June 1 and 10.
Future Outlook of ETFSwap
The ETFSwap token is expected to rise by 40,000% in the coming months, reaching a target price of $4. With the prices of Bitcoin, Ethereum and Ripple showing no signs of upward movement, investors are rushing to acquire the ETFS token ahead of its planned listing on major exchanges. Currently selling at $0.01831, investors who purchase ETFS at the current pre-sale price are poised to potentially achieve 400x returns in record time.
To learn more about the ETFS presale, visit the ETFSwap presale And join the ETFSwap community
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