ETFSwap (ETFS) Touted To Become Biggest Ethereum DeFi Protocol Ahead Of Pendle (PENDLE) And Uniswap (UNI)
As bullish signals gradually resurface in the crypto market, there are wild speculations that ETFSwap (ETFS) will most likely become the first choice Ethereum DeFi Protocol, toppling older alternatives like Pendle (PENDLE) and Uniswap (UNI).
In the past week, ETFSwap has caught the attention of investors in the DeFi space, many of whom have taken time to study the ETFSwap (ETFS) ecosystem and believe that they may have just hit a goldmine.
Pendle (PENDLE) Price Spikes As Arthur Hayes Bags $500,000 Worth Of Tokens
In a strategic move following the massive bleeding of the crypto market in mid-April, BitMex founder Arthur Hayes has injected $500,000 into the Pendle (PENDLE) ecosystem. Asian Crypto news platform, @WuBlockchain, announced that he made the investment via Wintermute on May 6th, bringing his total Pendle (PENDLE) holdings to 1.55 million Pendle (PENDLE) worth around $4.89 million.
Hayes’ massive acquisition caused the token’s price to quickly spike by 4%, stimulating investor confidence in the Pendle (PENDLE) DeFi protocol, albeit for a short period. As of writing this article, the token trades at $4.88, with a $1.1 billion market capitalization. Both of these matrices reflect a 3.89% decline in price and market cap within the past 24 hours, and this leaves the token a far cry away from the all-time high of $7.5 that it reached in April 2024.
Despite the unpredictable volatility of the DeFi space, Coincodex predicts that Pendle (PENDLE) price will soar to $16 by the middle of 2024, while AMBCrypto is optimistic that the coin will peak at $68 this year. More so, as of this writing, DeFiLlama data shows about $ 4.5 billion worth of Pendle (PENDEL) locked, reflecting a 10.7% spike from last week.
If these are anything to go by, Pendle (PENDLE) still remains in DeFi investors’ good books and may be on course to gain higher market acceptance.
Uniswap (UNI) Continues Trying To Recover From SEC’s Brunt: Are The Good Days Almost Back?
Uniswap (UNI) seems to be crawling up a growth trajectory after slumming from over $11 to below $6 in mid-April. In the past month, UniSwap (UNI) fell by more than 9% within an hour after the Security and Exchange Commission (SEC) threatened enforcement action against the digital asset platform.
Being one of the biggest decentralized exchanges in the world, many tokens continue listing on the Uniswap (UNI) platform, but it did little to change the dwindling price of its utility token. However, its price bolstered a little as Bitcoin swung back up to $63,000, pulling several altcoins alongside.
Hence, as of this writing, Uniswap (UNI) is trading at $7.55, with a $4.5 billion market capitalization. DeFiLlama TVL data shows that $5.56b worth of Uniswap (UNI) are locked in decentralized exchanges, a 3.87% increase from the figures of the past 7 days.
The daily charts now also show the formation of a double-bottom pattern, which may likely be an indication of an upward rally.
Investors and DeFi traders are fast cutting down their bags of different digital assets and channeling a part of their investments into ETFSwap (ETFS). Driven by the thrill of trading traditional EFTs on the blockchain, these investors strongly believe that ETFSwap (ETFS) will soon become the first choice DeFi Protocol as it goes viral in the crypto community.
ETFSwap (ETFS) allows traders to perpetually trade tokenized ETF assets with up to 10% leverage. After being audited by top blockchain security firm CyberScope, the ecosystem, its smart contract and its native token, ETFS, have been certified secure and credible for investments.
This audit caused it to gain investor confidence, as five institutional and angel investors pumped $750,000 into the project within hours during its private sale. The team also turned down tens of millions of dollars from numerous venture capitalists to maintain a completely democratic platform.
Instead, the team opened it up to a stage 1 public pre-sale, allowing all crypto investors to get a chance at this unique opportunity. This has been well-received, as over 70 million tokens were sold out within a week.
The good news is that the stage 1 presale is still ongoing at an affordable price of $0.00854. The price is expected to rise to $0.01831 in the second presale stage, securing a 100% profit for stage 1 investors ahead of exchange listings.
As of this writing, investors are still falling in line to load up bags of ETFSwap, as they perceive that it is the next big thing for the DeFi cryptoshere.
For more information about the ETFS Presale:
