The crypto market downturn over the weekend caused panic among many Dogwifhat (WIF) investors. This led to a massive sell-off, with Solana whales offloading their Dogwifhat WIF) holdings and rotating into more stable Ethereum-based projects.
One project that immediately caught their attention was ETFSwap, as the project’s utility token ETFS, maintained its bullish momentum despite the bearish sentiment in the market.
Four Solana Whales Dump Their Dogwifhat (WIF) Holdings For Ethereum-Base Token
Dogwifhat (WIF) was one of several crypto tokens that declined significantly following the bloodbath in the crypto market. This led to four Solana whales dumping their Dogwifhat (WIF) tokens on the market. Data from the on-chain analytics platform Lookonchain shows that these whales sold 5.68 million Dogwifhat (WIF) tokens in panic.
Specifically, one of these whales sold 3.12 million Dogwifhat (WIF) for 7.34 million USDC while the token traded at $2.35. Another sold 1.016 million Dogwifhat (WIF) for 1.93 million USDC while the token traded at $1.9. The third whale sold 905,074 Dogwifhat (WIF) for 1.88 million USDC while the token traded at $2.08. Meanwhile, the last whale sold 641,598 Dogwifhat (WIF) for 1.26 million USDC while the token traded at $1.97.
Transactions by whales always catch the crypto community’s attention, and these weren’t an exception. Following these sell-offs by these Solana whales, they began to speculate on what tokens the whales might rotate this capital to. One token that these community members mentioned is the ETFSwap (ETFS) token.
They explained that ETFSwap (ETFS) was a likely destination for these funds, considering that the token was one of the very few that remained green despite the market decline. Indeed, ETFSwap (ETFS) stood firm amidst the downward trend experienced by other leading cryptocurrencies.
Interestingly, these whales are speculated to be among those who invested in the ETFSwap (ETFS) token following the market decline. It is worth noting that the demand for the token skyrocketed during that period, with over 3 million ETFSwap (ETFS) tokens sold in 24 hours. This massive buying pressure again highlights the insane demand the token has experienced since stage 1 of its presale began.
Why Investors Are So Bullish On ETFSwap (ETFS)
Besides showing its strength amidst a market downturn, the ETFSwap (ETFS) token has also attracted crypto investors because of the unique offering of ETFSwap, the platform behind the token. ETFSwap (ETFS) is a decentralized finance (DeFi) platform that integrates traditional finance (TradFi) with DeFi by enabling the on-chain trading of exchange-traded funds (ETFs).
This has captured the attention of web3 natives since no other DeFi platform boasts such a feature. Meanwhile, this further expands the options of these crypto investors as they can diversify their portfolio beyond crypto assets. That way, they can even rotate to traditional assets whenever the crypto market experiences a sharp decline like what was seen over the weekend.
Another reason crypto investors are so bullish on ETFSwap (ETFS) is the enticing staking rewards they could enjoy when they stake their tokens. Staking has become one of the most common ways in which those in the crypto space earn significant gains, and considering that ETFS is a new Ethereum-based token, the yields are bound to be higher than any other tokens like Ethereum (ETH) can offer.
However, these staking rewards won’t be the only way ETFS token holders can earn passive income on the platform. The DeFi platform also plans to implement a revenue-sharing model among these holders. These payouts will be worth a considerable amount, considering the amount of trading activity the ETFSwap is expected to record.
In addition, ETFSwap (ETFS) token holders are going to earn more due to the potential 1000x gain they could make by holding the token. With such potential returns from a crypto token, there is no reason why anyone won’t be bullish on the ETFS token.
In fact, these investors still feel underinvested, which is why they are still rushing to accumulate more tokens. With these tokens selling out rapidly, those yet to invest need to act and purchase them. They are selling at a giveaway price of $0.00854, which is expected to double to $0.01831 once Stage 2 of the presale commences.
For more information about the ETFS Presale:
Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.
