Large crypto whales have begun to accumulate millions of tokens, spurred by the recent approval of Spot Ethereum ETFs by the United States Securities and Exchange Commission (SEC). This regulator’s unexpected authorization has also prompted thousands of investors to invest in ETFs via decentralized exchanges like ETFSwap (ETFS).
ETFSwap (ETFS) Presale Surges Following Spot Ethereum ETFs Approval
Before the SEC’s approval of Spot Ethereum ETFs, ETFSwap (ETFS) had achieved significant milestones, recording thousands of new users and reaching its private fundraising target of $750,000. Following the approval of Spot Ethereum ETFs, ETFSwap (ETFS) has experienced explosive growth, with investors from different regions of the world scrambling to gain access to the cryptocurrency ETF market.
ETFSwap (ETFS) is a Decentralized Finance (DeFi) platform which acts as an access point to the tokenized ETF industry. This platform allows users to buy and trade all kinds of institutional ETFs, including leveraged ETFs, commodity ETFs, fixed-income ETFs, and cryptocurrency spot and futures ETFs – including the infamous Spot Ethereum ETFs and Spot Bitcoin ETFs.
ETFSwap (ETFS) enables users to purchase ETFs by swapping crypto assets like Ethereum (ETH) for ETFs. Users can also directly invest in any ETF of their choice on the platform by buying ETFSwap’s native token, ETFS.
Owning ETFS tokens offers users exclusive benefits on ETFSwap’s platform, including lower trading fees, an 87% APR yield, and up to 10x leverage on all trades and staking options. As an ERC-20 token built on the Ethereum blockchain, users can execute transactions seamlessly with ETFS tokens. By leveraging blockchain technology, ETFSwap (ETFS) also enables a more transparent and secure trading environment on its platform.
Additionally, the decentralized trading platform has terminated KYC requirements, bolstering its users’ privacy and streamlining onboarding processes. Its smart contracts have also undergone a stringent audit by prominent cybersecurity and blockchain audit firm, CyberScope. The results of the audit unveiled a robust underlying infrastructure and strong security protocols which protect users against possible cyber attacks.
Currently, ETFSwap’s presale is ongoing and each token is being sold for a price of $0.00854 in the first stage. Due to the hype surrounding Spot Ethereum ETFs approval and the anticipation of its launch, the demand for ETFS tokens has skyrocketed.
ETFSwap (ETFS) has recorded over 170 million sold tokens and raised over $2 million in just a few weeks. This increased demand underscores the platform’s growing popularity amongst investors and traders in the digital asset space.
ETH Whale Accumulation Trend Among Crypto Whales Rises
In an X (formerly Twitter) post on May 30, popular crypto analyst, Ali Martinez unveiled a resurgence of crypto whales who have been purchasing large amounts of tokens recently. According to Martinez, there has been a notable increase in the total number of Ethereum (ETH) addresses that hold 10,000 or more ETH tokens.
Sharing a price chart of Ethereum’s “mega whale address count,” first seen on Glassnode, the crypto analyst noted that this rise in ETH addresses underscores a significant shift from market distribution to a full-blown accumulation.
This new accumulation trend follows the approval of Spot Ethereum ETFs by the US SEC on May 23. Blockchain analytics platform, Santiment revealed in an X post that the broader crowd sentiment has shifted to bullish sentiment after the SEC’s approval.
Also, Martinez has disclosed an increase in ETH transfers, highlighting that investors are beginning to move their tokens to crypto exchanges for potential sell-offs and profit-taking.
The analyst has stated that Ethereum (ETH) will need to keep a high demand zone to mitigate selling pressures, pinpointing critical resistance barriers between $3,940 and $4,054 for Ethereum (ETH), which is currently trading at $3,759, according to CoinMarketCap.
Conclusion On Spot Ethereum ETFs Impacts On ETFSwap (ETFS)
Due to the influx of capital recorded by Spot Bitcoin ETFs, many investors are looking to gain early access to Spot Ethereum ETFs, diving into platforms like ETFSwap (ETFS), which allows users to buy and trade tokenized ETFs.
ETFSwap’s first presale stage is almost over, and investors could lose their chance to purchase ETFS tokens at a lower price. The second stage of the presale will see ETFS increasing to $0.01831, driven by investors’ rising demand and interest in the cryptocurrency.
For more information about the ETFS Presale:
