There was much anticipation among crypto community members as the day for the United States Security and Exchange Commission (SEC) to greenlight the trading of Spot Ethereum ETFs, speculated to be in early July 2024, inches closer.
However, the crypto market received a terrible blow as the SEC refused to make a decision, resulting in some Solana whales shifting the focus of their investments from Solana-based meme coins Bonk (BONK) and Dogwifhat (WIF) to ETFswap (ETFS). This article discusses the ETFswap (ETFS) ecosystem and why these Solana whales made it their preferred investment.
BONK Dog-Themed Solana Meme Coin
BONK, one of the first dog-theme meme coins on the Solana (SOL) ecosystem, gained popularity in the crypto market in late 2022 when it was airdropped to members of the Solana (SOL) community. As a community-driven token, BONK thrives through hype and online cultures; since it has garnered massive followership, BONK has experienced a significant uptrend in price.
However, its community-driven status has also proved to be its Achilles heel, as its value is speculative and prone to extreme volatility. On the bright side, BONK’s price rebounded from its support level of $0.000018, surging by 8% to $0.0000261, according to an analysis of its daily chart by experts.
The increase is pinned on news that BonkDAO has received a proposal to burn 84 Billion BONK, which, if approved, will create a scarcity that will drive up its price. Nevertheless, since BONK is heavily influenced by volatility, its price could still go sideways even if the token burn is approved. Currently, BONK trades at $0.0000264 and ranks 46th in the crypto market.
ETFSwap (ETFS) Emerges Investor’s Choice
ETFswap (ETFS), a blockchain platform that facilitates the trading of tokenized exchange-traded funds (ETFs), has grabbed the attention of Solana whales across all regions due to its novel approach to trading ETFs.
The tokenized ETFs represent a shift in the crypto industry’s financial landscape since users will be able to access various asset classes across numerous industries on the blockchain. To achieve this feat, ETFswap (ETFS) has partnered with MiCa-regulated investment banks to handle the trading of cryptocurrencies and securities.
Also, ETFswap (ETFS) users can trade the tokenized ETFs on a comprehensive Web3 marketplace with 24/7 liquidity and advanced trading tools. These tools assist traders in making well-informed investment decisions and minimizing fund loss. ETFswap (ETFS) also features a standard ERC-20 token, ETFS, which functions as its native token and a key to unlock all its features, including trading tokenized ETFs.
Solana whales are rushing to purchase ETFS in ETFswap’s (ETFS) ongoing presale at a low price of $0.01831. This will allow them to trade tokenized ETFs and boost their portfolios with diversity. These Solana whales are also buying now to secure their chance of making an automatic profit on their investments since the token is expected to increase in value to $0.03846 soon.
Dogwifhat (WIF) Crashes By 11%
Dogwifhat (WIF), a community-driven meme coin inspired by the legendary Shiba Inu, experienced an 11% drop in value after failing to cross a significant exponential moving average (EMA) resistance. According to experts, investors have been concerned about its subsequent trajectory as a result of its price slump.
Dogwifhat has begun to gradually recover after Dogwifhat made a 20% increase in just 24 hours. Nevertheless, it again shows signs of correction after hitting the $2.30 mark despite expert predictions that it will surge to $10. Currently, Dogwifhat (WIF) trades at $1.68 and ranks 50th in the crypto market, according to data from asset tracking firm Coinmarketcap.
Conclusion
Solana whales are making their move on ETFSwap (ETFS) as Dogwifhat (WIF) has failed to retain its bullish momentum while Bonk (BONK) is at the mercy of volatility. Also, amidst its ongoing presale, experts are optimistic that ETFS will surge to $3, increasing by 20,000% after launch.
All, including the Solana whales, are enthusiastic about this prediction because ETFswap (ETFS) is preparing to launch a beta version of its platform in less than 30 days, and it intends to launch its ETF by 2025. So, like the Solana whales, Buy ETFS today!
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