ETFSwap targets July dApp launch, JASMY and OP succumb to bears

ETFSwap (ETFS) set to launch its dApp in July 2024 after a successful presale, standing strong amid a bearish market affecting altcoins like JasmyCoin (JASMY) and Optimism (OP).

ETFSwap (ETFS) aims to launch its decentralized application (dApp) in July 2024, following its presale. While the ETFSwap ecosystem has been on a roll recently, other altcoins like JasmyCoin (JASMY) and Optimism (OP) have succumbed to bearish pressure in the cryptocurrency market.

JasmyCoin has been down 14% in the last seven days, while Optimism (OP) has been down by 13%. This decline reflects bearish crypto traders’ control over the crypto market in the past week. Notably, ETFSwap stands out amid the general price decline. The platform has welcomed recent developments, enabling the ecosystem to thrive amid the bearish calls.

ETFSwap crypto trading dApp to launch in July

Several defi investors and web3 users are ecstatic about the upcoming launch of ETFSwap’s DApp. The platform’s decentralized app has some unique features that are absent in regular defi trading platforms. One of these key features is its ETF integration powered by the Ethereum blockchain network.

ETFSwap harnesses blockchain technology to make access to ETFs seamless. On the dApp, users can purchase crypto spot and futures ETFs, commodity ETFs, leveraged ETFs, and fixed-come ETFs. Further, users can stake these ETFs to earn higher yields. Staking rewards vary on the platform but typically range between 8% and 86%.

The ETFSwap dApp also supports perpetual futures and options trading. Crypto traders can open long or short positions within the decentralized platform using up to 50X leverage to increase their potential gains. Further, the dApp has deep liquidity to ensure crypto traders spend minimally on transaction fees.

The upcoming launch of the ETFSwap dApp in July would also maximally unlock ETFS’ utility. The ETFS token would fuel the ETFSwap ecosystem, and crypto traders can get incentives from staking and utilizing the token. Token holders also get to qualify for the platform’s monthly airdrops. 

The ETFS token’s use cases would attract multiple holders and investors, triggering a long-term value appreciation. Expert analysts expect ETFS to give 108x gains to early investors, and multiple retail and quality investors are accumulating the token before the dApp launch.

JasmyCoin succumbs to bearish pressure

JasmyCoin’s chart on the daily timeframe reveals that its price has broken structure to the downside, which is a sign of bearish momentum. Notably, JASMY approaches the $0.0258 price level, which is a demand zone, and its price could experience a slight bounce from this level.

The overall outlook on the daily timeframe still indicates that JasmyCoin is in for a downtrend, and its bounce from the demand zone may not be sustained. JasmyCoin could still fall as low as $0.015 in the coming weeks.

Optimism sees a 63% decline from its all-time high

Optimism reached its all-time high of $4.85 in March 2024. Ever since then, the Ethereum layer-two token has succumbed to bears, falling as low as $1.8. Interestingly, Optimism’s (OP) 63% decline may be over soon as the token looks oversold on the daily timeframe.

The RSI indicator has a 31% value for the OP token. Notably, oversold regions are from the 30% mark and below. As Optimism approaches this value, investors may expect a slight relief from here. However, Optimism’s price appreciation in the coming weeks would be meager compared to that of ETFSwap.

Conclusion

ETFSwap is one of the few altcoins that has not succumbed to the crypto market’s bearishness. The upcoming launch of its dApp and other significant developments have helped the ecosystem thrive amid the market decline. Although tokens like JasmyCoin and Optimism have also performed quite well in 2024, their price performance would pale compared to the ETFS token.

To learn more ETFS presale, visit ETFSwap presale and join the ETFSwap community.