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Ethereum (ETH) has experienced a modest price increase of over 2% on Tuesday, driven in part by minor inflows into Ethereum ETFs. While this positive movement is encouraging, the overall picture for Ethereum's price is more nuanced. Investors, however, are not sitting idle. Instead, they are diversifying their portfolios to pursue more profitable opportunities, with ETFSwap (ETFS), now Bitcoin’s biggest competitor emerging as a top choice.
CryptoQuant's data reveals that Ethereum (ETH), Bitcoin’s oldest competitor, experienced a net exchange outflow of over 306,000 ETH since the market decline on August 5. Ethereum's exchange reserves have also fallen to a one-month low of 16.8 million ETH, continuing a downtrend that began on August 2. This decline in exchange reserves typically indicates increased buying pressure.
The combination of rising net outflows and decreasing reserves suggests that investors are accumulating Ethereum (ETH) tokens in anticipation of a potential price rally. As of Tuesday, August 13, Ethereum (ETH) is trading around $2,710, recording a 2% gain on the day. Over the past 24 hours, it has seen over $27 million in liquidations, with long and short liquidations accounting for $16.29 million and $11.28 million, respectively. Ethereum's price mirrors the cautious sentiment across the crypto market, with a bias toward the downside.
This is evident in the ETH Long/Short Ratio, which fell from 1.01 to 0.91, indicating that bears have slightly prevailed over bulls in the past 24 hours. Although Bitcoin’s oldest competitor, Ethereum (ETH) has since fallen as the token saw a rejection around $2,730, a few cents above the $2,723 key resistance level. The move follows a key trendline suggesting Ethereum (ETH) could fall by 25% to record a swing low around $2,020 before rebounding.
Now rivaling Ethereum as Bitcoin’s biggest competitor, ETFSwap (ETFS) has emerged as a safe haven for investors, particularly those concerned about Ethereum's potential downturn. ETFSwap (ETFS) exemplifies market-making and perpetual trading, allowing users to leverage up to 100X while harnessing the power of blockchain technology. This Bitcoin competitor grants traders permissionless access to a variety of crypto and tokenized ETFs which are backed by real world assets.
With its decentralized infrastructure and its leverage of blockchain technology, ETFSwap (ETFS) facilitates the swapping of major altcoins and ETF assets in a fully DeFi environment, all at low costs, creating a trader-friendly ecosystem. Moreover, unlike traditional trading and crypto platforms, this Bitcoin competitor, boasts an advanced AI-powered ETF Screener and ETF Tracker, along with a user-friendly interface that enhances the trading experience.
As the driving force behind the ETFSwap (ETFS) ecosystem, the native ETFS token is leading the charge into a transformative Web3 era by offering the first decentralized protocol that provides direct access to institutional ETFs. Asides granting direct access to the ETFSwap (ETFS) platform, the ETFS token also enables users with governance and voting rights, staking options and up to 87% APR.
Aside from the ETFSwap (ETFS) platform offerings and other crypto token earning opportunities via staking and airdrops, the platform's reliability is another reason the trader has confidently claimed it's a good investment. Furthermore, the ETFSwap (ETFS) team, certified by SolidProof, is preparing to launch an ETF powered by the native trade-to-earn ETFS token. This launch is expected to be a pivotal milestone, positioning the ETFS altcoin to lead the upcoming altcoin bull rally as market volume increases and further solidifying its dominance as Bitcoin’s competitor.
The Bitcoin competitor, ETFSwap (ETFS) is set to generate generational wealth for its early adopters, as its ongoing presale is on track to deliver a 100% return upon the launch of stage 2. Currently priced at just $0.01831, this presents a unique opportunity for investors to secure generational wealth. Act quickly to take advantage of this opportunity before it closes.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
