Crypto analyst Thor Hartvigsen has warned about an imminent selling pressure that certain crypto tokens could face. Some holders have already gotten wind of the situation and are looking to offload their holdings and rotate their capital to healthier crypto tokens. ETFSwap (ETFS) has emerged as the top option being bought, having taken a look at its supply and seen how community-driven the project could
Some Altcoins At Risk Of Potential Price Declines
Hartvigsen noted in an X (formerly Twitter) post that some altcoins are already seeing a “massive increase” in their supply just four months into the year. He made a list of 17 tokens which fell under this category. This included Jupiter (JUP), Ethena (ENA), Ondo (ONDO), and Wormhole (W), among others.
Interestingly, these tokens and the others on the list are relatively new (having all launched this year), which raises concerns about why their respective teams are already injecting more tokens into their existing supply. While their reasons remain unknown, it paints a negative picture and is a move that could lead to significant selling pressure on the tokens.
Besides, because they are new tokens, they have yet to attain the kind of stability that could make them immune to some large whale transactions. For context, even Arbitrum (ARB), which launched last year, experienced significant price declines following its March and April token unlock of over 1 billion and 92 million Arbitrum (ARB) tokens, respectively.
These crypto tokens already look to be feeling the impact of this inflationary action. Jupiter (JUP), for example, is down almost 50% from its all-time high (ATH) of $2. Ethena (ENA), Ondo (ONDO), and Wormhole (W) are also down 43%, 24%, and 62%, respectively, from their ATH.
Crypto Investors Have Chosen ETFSwap (ETFS)
With crypto tokens like Jupiter (JUP) at risk of significant price declines, crypto investors have identified ETFSwap (ETFS) as a healthier project to invest their funds. This has increased demand for the ETFSwap (ETFS) token in stage 1 of its ongoing presale.
These investors considered various factors before concluding that ETFSwap (ETFS) is undoubtedly a healthier crypto project. One is its tokenomics, with 40% of the token’s total supply reserved for public sale. This means that the community is bound to control most of the tokens in circulation and can rest assured that the team isn’t out to benefit at the expense of its users.
Another factor is that ETFSwap (ETFS) is a deflationary token. ETFSwap, the platform behind the token, sends the 1% buy tax to a burn wallet, permanently eliminating these ETFSwap (ETFS) tokens from circulation. This burn mechanism will help reduce ETFSwap’s (ETFS) circulating supply will reduce overtime, thereby increasing the crypto token’s value.
This is partly why crypto experts say that ETFSwap (ETFS) could eventually rise to $5, a 58,000% gain from its current price of $0.00854 in the ongoing stage 1 of the token presale. Crypto investors have also factored this in and realized they could potentially make a 581x return on their initial investment.
ETFSwap’s (ETFS) unique offering is another thing that has endeared crypto investors to the crypto token. The decentralized finance (DeFi) platform offers Web3 natives the opportunity to invest in tokenized exchange-traded funds (ETFs), allowing them to diversify their portfolio beyond cryptocurrencies.
ETFSwap already clarified that users must hold a certain amount of the ETFS before accessing this offering. As such, some have purchased the ETFSwap (ETFS) token to invest in these traditional assets once the platform launches.
The ETFSwap (ETFS) token presale has undoubtedly been an enormous success. Given how crypto investors have continued to purchase the token, stage 1 of the presale seems likely to end sooner rather than later. As such, those yet to invest must act fast to enjoy maximum gains from this life-changing opportunity.
For more information about the ETFS Presale:
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