Recently, there was quite a buzz in the industry as Ethereum co-founder Vitalik Buterin sold off meme coins to buy Ether, which led to an increase in the Ethereum price. Vitalik also purchased an ETF token, ETFSwap (ETFS), which experts speculate will soon surge to the $5 mark. This article discusses how Vitalik’s selling activities impacted the Ethereum price and why experts are confident that ETFSwap (ETFS) will surge to $5.
Ethereum Price Surges As Vitalik Purchases Ether
According to an on-chain analysis by Lookonchain, a blockchain analytics firm, Ethereum (ETH) co-founder Vitalik Buterin has exchanged his stash of meme coins for ETH, netting a profit of $2.24 million. The Ethereum price experienced a slight uptrend after these transactions, as many analysts believe that the Ethereum price could surge past the $2,600 mark before the end of October 2024.
According to the analytics firm, Vitalik made the largest profit by exchanging 10 billion MOODENG coins for over 395 Ether tokens, amounting to about $976,000 with the current Ethereum price. Interestingly, Vitalik got all the tokens for free, and in an X (formerly Twitter) post, he stated that all the coins he got would be donated to charity.
At press time, the Ethereum price is currently hovering around the $2,500 mark, waiting for the momentum to burst into $2,600. While the recent Ethereum price move is no small feat, it still trades far from the all-time high it achieved in the bull market in 2021, where the Ethereum price traded close to the $5,000 mark.
ETFSwap (ETFS) Prepares For Surge To $5 Amidst Presale
ETFSwap (ETFS) is a blockchain-based TF trading platform that is changing the narratives about how crypto community members interact with exchange-traded funds (ETFs). ETFSwap (ETFS) does this by introducing a tokenized version of ETFs, directly representing traditional ETFs on the blockchain. ETFSwap (ETFS) makes this possible by partnering with MiCa-regulated investment banks to handle the trading of cryptocurrencies and securities.
Tokenized ETFs on ETFSwap (ETFS) also open up opportunities for traders to extend their profit positions by 50x on the platform derivative trading arm and fractional ownership. Further, as a decentralized platform, ETFSwap (ETFS) doesn’t require new users to fill out Know Your Customer (KYC) forms, allowing them to sign up and start trading in a few minutes.
At the core of ETFSwap (ETFS) is its native token, ETFS, which serves the purpose of governance and utility. As a governance token, users who hold ETFS will gain voting rights to influence the decision-making on the platform by voting for or against a proposal regarding the growth of the network.
In addition, only users who hold ETFS tokens can trade tokenized ETFs and enjoy access to all the network’s features. The ETFSwap team designed ETFS as a deflationary token; thus, its total supply will continue to reduce due to a systemic burning process. A decrease in the token’s total supply will eliminate overabundance, which can cause it to lose value. Instead, it will create a sort of scarcity that will boost its inherent value and help it remain relevant in a competitive market.
However, aside from that, all users who hold a portion of ETFS will also gain access to exclusive investment opportunities and early access to all new ETF listings on the platform. Also, users who hold ETFS can stake their tokens on the platform’s pool, earning 87% APR as passive income. As a part of the ecosystem, ETFSwap (ETFS) is currently offering ETFS to everyone at a low price of $0.03846, and investors from all regions, including Vitalik Buterin, are hurrying to bag it now.
Conclusion
As experts predict that the Ethereum price will move to the $2,600 mark, they expect ETFSwap (ETFS) to pump in value to the $5 mark soon. The experts are confident that ETFS will experience this Parabolic surge because the platform recently announced the launch of phase 1 of its beta platform, which is currently in testnet. Further, ETFSwap (ETFS) has debuted on the asset tracking platform Coinmarketcap. So, as a savvy investor, don’t delay; buy ETFS today!
For more information about the ETFS Presale:
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