Ethereum Spot ETFs Pushes $100 Million Crypto Whale To Buy ETFSwap (ETFS), JasmyCoin (JASMY), And Toncoin (TON)

Just days after Ethereum Spot ETF approval by the US Securities and Exchange Commission (SEC), a crypto whale with a wallet worth over $100m accumulated some trending and promising altcoins with solid utility and community hype. Blockchain transaction analysis shows that ETFSwap (ETFS), JasmyCoin (JASMY), and Toncoin (TON) all received huge investment inflows.

This investment in altcoins is not surprising as the approval of Ethereum Spot ETF has been triggering several rounds of huge investment in the crypto market. Analysts at Forbes believe that governmental financial bodies and by extension crypto whales — are starting to see the crypto market as a commodity rather than a security. Since crypto whale investments often signal a strategic move with a promising substantial profit, let’s analyze the potential of these trending coins the whale bought.

ETFSwap (ETFS): The Rising Star For Crypto Whales

ETFSwap (ETFS) is a cryptocurrency that has been positively affected by the approval of Ethereum Spot ETF because it’s an ETF trading platform. It is a decentralized finance platform for trading ETFs in many sectors, such as transportation, health, oil, and gas, among others. The ETFSwap (ETFS) platform allows traders to swap their crypto assets with ETFs on the blockchain.

Its native token ETFS has drawn the attention of institutional and retail investors since it’s backed by strong utility. One of such is its use within the ETFSwap trading platform. Since the platform is built to trade ETFs, traders who hold the token enjoy discounted fees and access to trading tools such as the ETF Tracker, which allows the discovery and monitoring of ETF product performance.

Another use of the ETFSwap (ETFS) token is that it gives holders access to a staking pool linked directly to the ETFSwap (ETFS) liquidity which gives an earning of up to 36% — alongside monthly airdrop rewards. Due to the community-centric design of the ETFSwap (ETFS) platform, the token also gives voting rights within the platform’s governance system.

Since the platform has been audited by CyberScope, an industry-recognized security company, users have not only joined the presale but also signed up to use the trading platform as it is equipped with perpetual trading with up to 50x leverage across all listed ETFs.

Toncoin (TON): An Upcoming Key Player

Toncoin (TON) has been making waves in the last few months because of its impressive community, association with some Telegram crypto projects, and launch of its wallet. Since its launch, Toncoin’s price has grown significantly to over $6, cementing itself as one of the top 100 cryptocurrencies in the past few months.

While market analysis shows a slight bearish movement that could see Toncoin (TON) fall below $6, with critical support at $5.9 and $5.3, the long-term potential is promising. The Toncoin (TON) network has underlying technology and community support that keeps growing and attracting investors. Additionally, the approval of Ethereum Spot ETF has had a ripple effect on Toncoin (TON) as a popular altcoin.

In fact, analysts forecast that it might set a new price record of $11 in 2024 and increase by more than 64% in the following year.

JasmyCoin (JASMY) Sees Bullish Resurgence Amid Crypto Whale Transactions

Decentralized data democracy and the Internet of Things using blockchain technology have been the selling angle of JasmyCoin (JASMY). After a quite lukewarm performance, JasmyCoin enjoyed a surge in recent times after unveiling its AI-focused project in the development of digital ID systems.

The news saw JasmyCoin (JASMY) rise 26%, only second behind Notcoin (NOT), which was up 31% with a 24-hour trading volume of over $1.3 billion on May 30, 2024. The approval of Ethereum Spot ETF also added to its market performance as the market had an all round boost hours after the announcement.

A crypto analyst forecasts a bullish run for JasmyCoin (JASMY) in a post on X (formerly Twitter).

The chart indicates a possible bull rally and rocket-high movement should JasmyCoin retain momentum and stay above a key support level of $0.02.

Conclusion On Taking Action

Information on whale investments can be a good way to get ahead of the market and make the best of an early entry. Now is the best time to get in early as the market gears toward another bull run. As much as coins like Jamsycoin (JAMSY) and Toncoin (TON) are poised for good gains, ETFSwap may edge over them as the continuous approval of Spot Ethereum ETF derivatives will continue to have a positive impact on its performance throughout the year.