Hedera, Ondo finance fall behind ETFSwap despite BlackRock partnership

ETFSwap attracts investor attention as prices for Hedera and Ondo Finance suffer a decline.

The significant decline and price drop experienced between the two cryptos, Hedera (HBAR) and Ondo Finance (ONDO), can be attributed to three recent major happenings in the crypto industry. One such happening involves the entry of ETFSwap (ETFS) and Real World Assets (RWA), a tokenization and utility-based platform that attracted retail, whales, and smart investors even at the presale stage. 

Hedera token price declines following update from BlackRock 

Hedera is expected to continue its downward price momentum following a bearish announcement from a BlackRock spokesperson, which has severely impacted the growth of the native token.

Just last week, a bullish announcement was made publicly on the official X account of the Hedera Foundation. The announcement stated that BlackRock’s ICS US Treasury money market fund (MMF) had reached an important point for tokenization and RWA by tokenizing it on the Hedera platform, with blockchain companies Archax and Ownera serving as facilitators. Some analysts and crypto enthusiasts misinterpreted the news update as a Blackrock effort, and this saw the native token of the Hedera platform rally up to 100% in one day.

However, the announcement by the Hedera Foundation, which some analysts misinterpreted to suggest that BlackRock played a vital role in the tokenization efforts, was quickly debunked by the asset management’s spokesperson. The BlackRock spokesperson said the information being spread in the global finance industry was false, stating that “BlackRock has no commercial relationship with Hedera.

The outcome of this update released by BlackRock’s spokesperson resulted in a sharp price decline of the HBAR native token, which fell 32.8%, according to Coinmarketcap data. While HBAR continues struggling with its price recovery, it looks promising for ETFSwap, a viable tokenization project poised to be the next 1,000x crypto gem.

Ondo Finance disappoints investors as price plunges further 

Despite its strides in the decentralized ecosystem and enabling users to have on-chain access to Real World Assets, Ondo Finance (ONDO) is seen to lag in price owing to the recent Bitcoin crash, which impacted the scalable growth of its native token. 

According to Coinmarketcap data, the continuous price decline observed by Ondo Finance has caused investors and crypto whales to be wary of their investment holdings in Ondo Finance, thereby seeking investment options and alternatives into more stable platforms.

Competitors like ETFSwap have already emerged and are known to defy bearish market movements. At the time of writing, Ondo Finance trades at $0.79, a 6.02% drop from its daily open. 

Whale investors drive up stage 2 ETFSwap buy volumes

Despite the recent market conditions that have dealt a significant blow on the prices of a majority of cryptocurrencies, ETFSwap continues to show strength in the stability of its native token price, ETFS, as well as on its tokenization platform backed by a strong community of smart investors and adopters. 

ETFSwap is a decentralized platform that leverages blockchain technology to create a tokenized platform that enables users and investors to buy various cryptocurrencies and Exchange-Traded Funds (ETFs) on its platform. ETFSwap also provides an enabling trading ecosystem for its users and offers instant settlements of tokenized ETFs. This means that the platform’s users and investors can instantly redeem their investments anytime and on the go.

The daily influx of new investors and whales into the ETFSwap ecosystem indicates its growth potential. In just one week of the first stage of the ETFS presale, ETFSwap has gained traction as whales and smart investors notably buy large volumes of ETFS token. 

So far, over 50 million tokens have been purchased and sold out, leaving the token primed to become a trending topic in the industry. At the time of writing, ETFS token is selling at  $0.00854.

For more information about ETFS’ presale, visit the ETFSwap presale website or join The ETFSwap community.