Altcoins
Bitcoin and Ethereum Suffer Massive Outflows, But These Altcoins Continue to Do Well » The Merkle News
Bitcoin (BTC) and Ethereum (ETH) have seen significant outflows in recent weeks. However, some altcoins have shown resilience amid the recent market turbulence, and one in particular stands out among cryptocurrency enthusiasts and experts. ETFSwap (ETFS)a new blockchain-based project for trading tokenized ETFs, has taken the market by storm in its ongoing Phase 1 presale.
Market Outlook on Bitcoin (BTC), Ethereum (ETH) and Altcoins
Despite the optimistic atmosphere following the Bitcoin halvings, recent market trends have not been entirely promising. This has left experts divided on the direction of the market as bearish sentiments loom over the landscape.
The latest edition of Coinshares’ weekly digital asset fund report observed a weekly outflow of $435 million, the highest since March and the third consecutive week of outflows from digital asset investment products. According to the report, these outflows were mainly recorded on Bitcoin (BTC) AND Ethereum (ETH)with $423 million and $38 million respectively.
Over the same period, short Bitcoin (BTC) investment products saw inflows of approximately $1.3 million. This shows that market participants are increasingly interested in hedging or taking advantage of downward changes in the price of BTC, which is now trading just above $60,000.
Despite the decrease in outflows into Grayscale’s assets, the asset manager still accounts for the majority of market outflows, recording $440 million in the week under review. CoinShares also saw an inflow of $126 million, down from $254 million the previous week. The market situation also puts additional pressure on the price of Bitcoin and Ethereum, but altcoins appear to be weathering the storm.
Altcoins somehow managed to resist the bearish wave and secure inflows of $7 million, as CoinShares reports. The report explains that this is due to investors’ preference for multi-coin investment products, with Solana (SOL), Litecoin (LTC), Chainlink and, even more recently, ETFSwap (ETFS) being the most popular choices.
The new push for ETFSwap (ETFS) is understandable, considering its extremely undervalued presale price and the potential for a massive rally.
ETFSwap (ETFS) is carving out a new market niche for itself
ETFSwap (ETFS) has taken the market by storm with its pre-sale underway as the project continues to raise funds. This presents an opportunity for early investors to tap into this innovative market niche poised for massive growth.
ETFSwap (ETFS) is a new platform for trading ETFs on-chain through asset tokenization and multiple other DeFi solutions. By leveraging blockchain for ETF trading, users can enjoy new benefits such as access to liquidity, fast settlements, easy conversion of ETF assets to cryptocurrencies, passive income from token staking, and borderless and permissionless trading.
ETFSwap (ETFS) offers investors the flexibility to manage a portfolio of multiple asset types and customize their trading strategies based on preferences. It manages to combine the best features of centralized and decentralized markets and does not require KYC, eliminating interference from banks and intermediaries of any kind.
Furthermore, ETFs traded on the platform are backed by real assets purchased from financial markets. This model is possible because ETFSwap (ETFS) partners with regulated MiCa compliant banks that trade securities and cryptocurrencies.
Additionally, ETFSwap (ETFS) allows you to take leveraged positions of up to 10x to maximize your returns with your tokenized ETF assets, increasing profit margins for investors.
Early investors are currently the biggest winners in the current market ETFS Exchange (ETFS) pre-sale as the project has rejected investments from venture capital (VC) firms to democratize access to ongoing opportunities.
Phase 1 of the ongoing pre-sale has raised over $250,000, following an initial private phase that raised $750,000 in 3 days. The presale is selling out quickly at the current price of $0.00854. Experts also highlighted the exciting opportunity to make more than 2x earnings before the Phase 2 presale starts at $0.01831, and earn up to 100x once the token is listed on exchanges and rises to $ 1.
Buy the ETFS token in presale now with the continuous discount and secure possible 100x earnings.
For more information on ETFS presale:
Disclosure: This is a sponsored press release. Please do your research before purchasing any cryptocurrency or investing in any project. Read the full information Here.