Whales eye BTC, ETH as XRP declines; ETFSwap gains traction

Crypto whales are shifting focus to ETFSwap (ETFS) amid stagnation in Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) prices, seeking new investment opportunities.

Despite the launch of multiple Bitcoin-based spot products and large crypto whales activities, Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) prices have remained stagnant. This stagnation has led crypto whales’ to seek out more viable alternatives, with platforms like ETFSwap (ETFS) emerging as potential solutions.

ETFSwap: ETF trading solution for crypto whales

ETFSwap is a first of its kind blockchain-based platform that has caught the attention of crypto whales in the market. This is due to the fact that the platform enables users to trade tokenized ETFs backed by real securities from the traditional market. This unique approach offers on-chain anonymity, variable investment conversion between ETFs and crypto, and a wide range of blockchain-enabled features.

ETFSwap provides traders with global access to ETFs across various industries, including energy, healthcare, technology, and commodities. The platform achieves this by integrating the best features of centralized and decentralized markets, eliminating the limitations associated with traditional finance.

Distinguishing itself from the regular trading platforms, ETFSwap provides comprehensive trading services, including market-making and perpetual trading, with leverage as high as 50x. Furthermore, to incentivize its traders, the platform offers several benefits, including 24/7 trading, access to liquidity, permissionless trading, seamless conversion of ETFs to cryptocurrencies, and lower trading costs. 

By auditing its smart contract with Cyberscope, one of the largest cybersecurity firms in the crypto market, the platform has solidified its position as a top crypto asset for crypto whales. Analysts believe that with ETFSwap capitalizing on the hype around Spot Ethereum ETFs, the token may outperform established tokens like Bitcoin, Ethereum and Ripple’s XRP.

Whales deep dive into Ethereum and Bitcoin

Recent data from on-chain analysis firm, Spot On Chain, reveals a significant movement of Ethereum tokens. On June 11, eleven out of twelve identified crypto wallets withdrew a combined total of approximately 13,059 ETH, with one anonymous wallet withdrawing slightly more at 13,084 ETH. This activity coincides with a seven-year low in Ethereum’s availability on exchanges, according to Glassnode. 

Analysts at Spot On Chain suggest these transactions could be part of over-the-counter (OTC) deals, as they did not directly impact the market price. On the other hand, Crypto whales and small investors alike are growing impatient as Bitcoin trades between $69,000 and $71,000, with no signs of breaking its all-time high from March. 

These crypto whales and short-term traders are questioning the price action while expecting a more significant rally due to the effect of ETFs. Veteran Bitcoin investor WhalePanda, closely tracking the disparity between ETF inflows and the muted response in the spot market, has highlighted the lack of correlation between the two. In terms of price, at the time of this writing, Ethereum and Bitcoin are trading at $3,500 and $67,356 respectively. 

XRP whales accumulate despite declining network activity

While the price of Ripple’s XRP has dipped nearly 6% since June 1, crypto whales holding over 100 million Ripple have been actively buying the dip. This bullish behavior by crypto whales stands in contrast to the overall decline in Ripple network activity. 

On June 11, on-chain data from Santiment revealed a significant drop in Ripple’s active addresses, down nearly 40% to around 19,500. Interestingly, crypto whales holding between 1 million and 1 billion XRP, as well as those holding even larger volumes over 1 billion, have actually increased their holdings by nearly 2% between June 1 and 10. 

ETFSwap future outlook

The ETFSwap token is expected to surge by 40,000% in the coming months, reaching a target price of $4. With Bitcoin, Ethereum and Ripple prices showing no signs of upward movements, investors are rushing to acquire the ETFS token before its anticipated listing on major exchanges. Currently selling at $0.01831, investors who purchase ETFS at the current presale price are poised to potentially achieve 400x returns in record time.

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