Bitcoin Investors Dump Their Bags, But Dogecoin Sees $700 Million Inflows, What’s Going On?
Bitcoin (BTC) hit $70,000 on May 20, triggering a major sell-off by small-time traders. According to blockchain analytics platform Santiment, Bitcoin (BTC) was previously fluctuating just above the $66,100 mark, influenced by the mass liquidations executed by small wallets dumping into larger ones.
These small wallets typically hold Bitcoins (BTC) valued at an average of $6,000. When they initiate a major sell-off, it often signals the onset of a potential bull rally. This is largely because large-scale traders quickly purchase the offloaded Bitcoin (BTC) from small-time traders, holding on to the cryptocurrency for the long term and resulting in a more bullish effect.
Coincidentally, on May 20, when Bitcoin (BTC) surged above $70,000, Dogecoin (DOGE) saw $700 million in inflows, increasing its current trading volume of over $1.2 billion by 61.16%.
Reports from blockchain tracker and analytics platform, Whale Alert revealed that anonymous crypto whales have been offloading Dogecoin (DOGE) recently instead of buying it. The blockchain tracker unveiled a transaction made by an unidentified investor who offloaded a staggering 120,000,000 DOGE, valued at approximately $18.5 million on May 17.
The motivation behind this substantial transaction has not been disclosed. However, there are indications that investors are potentially liquidating coins to venture into more profitable investment avenues like ETFSwap (ETFS), which is less susceptible to volatility risks.
ETFSwap (ETFS) is a decentralized crypto and Exchange-Traded Fund (ETF) platform, which has been witnessing a surge in popularity amongst institutional and retail investors in the crypto space. This platform leverages blockchain technology to facilitate exceptional trading performance highlighted by transparency, security and anonymity.
As a decentralized system, ETFSwap (ETFS) enables users to trade tokenized institutional ETFs by swapping cryptocurrencies to purchase an ETF. Through this platform, users gain automatic access to the tokenized ETF landscape, executing high-value trades with greater profit potential.
ETFSwap (ETFS) innovative features extend beyond autonomous trading to encompass 24/7 risk management capabilities, flexibility, seamless trading opportunities and ETF management. Through tokenization, ETFSwap (ETFS) users can track the performance of ETFs in the market and identify profitable trends and potential risks.
Additionally, this platform eliminates the need for KYC verifications, protecting users’ sensitive information and limiting interference from third parties like financial institutions and regulators.
With traditional investment strategies gradually evolving, ETFSwap (ETFS) aims to improve the digital asset ecosystem by enabling fast transactions with lower trading fees, ultimately encouraging minimal effort on a trader’s part for maximum profit. Moreover, as one of the only decentralized cryptocurrency and ETF trading platforms in the industry, ETFSwap (ETFS) aims to democratize global access to ETFs through its innovative platform.
Currently, ETFSwap is in an ongoing presale to officially debut its decentralized platform and native token, ETFS. Its advanced features and high-profit potential have effectively captured the attention of prominent crypto investors, who have identified ETFS as a top presale coin.
ETFSwap’s public sale started on a bullish momentum a week ago, recording over 85 million sold tokens and previously hitting a $750,000 private sale funding target in mere hours. Due to its many achievements, the demand for ETFSwap has been higher than ever as investors, both new and experienced, are scrambling to purchase the token.
With the presale still in Stage 1, ETFSwap’s (ETFS) price is currently at $0.00854. However, the cryptocurrency is set to increase even more to $0.01831 by the second presale stage, propelled by the surging interest and demand from global investors.
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