ETFswap (ETFS) is currently among the tokens responding to the surge in the price of Bitcoin (BTC) and Ethereum (ETH), the two largest assets in the crypto market. While the price increase positively impacted many assets in the industry, some, like Polkadot (DOT), Litecoin (LTC), and Render (RNDR), have failed to meet investors’ expectations.
ETFSwap (ETFS) Raises Over $600,000 In presale
ETFswap (ETFS) is an Ethereum-based crypto trading platform that ingeniously tokenizes exchange-traded funds (ETFs) to make them more accessible to everyone. The tokenized ETFs will make it possible to directly invest in all ETFs on a single interface and leverage ETFSwap’s real-time data to monitor each ETF’s progress.
The platform’s native token ETFS will have several roles, one of which is to serve as the key to accessing the features on the network, including trading tokenized ETFs. Other functions of the token include governance, enabling holders to directly impact the platform’s growth by participating in making decisions that affect how the network operates. Other advantages are staking for passive income and monthly revenue share from participating in the liquidity pool.
ETFswap (ETFS) is offering the token at a low price of $0.00854 per coin in its stage 1 presale. By stage 2, its price will have increased to $0.01831, automatically allowing all stage 1 participants to profit from their investments. As a result, over 85 million tokens have been sold, generating over $600,000 in revenue.
Polkadot (DOT) On The Verge Of $20
Polkadot (DOT), a blockchain platform that enables cross-chain transfer of assets and data, is speculated to surge to $25 as the crypto market gears for the next bull run. One of the experts making such speculations is renowned crypto expert Micheal Van De Poppe, who made it known on his X (formerly Twitter) page on May 16, 2024. Micheal believes Polkadot (DOT) has experienced significant price corrections in the past months, but the altcoin was resilient and bounced back to pre-rally levels.
Further, the analyst is optimistic about Polkadot’s (DOT) cutting-edge technology, claiming that the network is the second largest developer-friendly blockchain platform. However, according to Coinmarketcap data, Polkadot currently trades at $7.59 and ranks 13th in the crypto market.
Litecoin (LTC) Fails To Retest ATH
Litecoin (LTC), one of the oldest altcoins in the crypto industry, is a peer-to-peer cryptocurrency that shares a slightly modified Bitcoin (BTC) codebase. On May 16, 2024, the Litecoin (LTC) network announced a huge milestone of crossing 245 million executed transactions on its X page.
Interestingly, 39 million transactions were executed this year alone, indicating an increased activity in its network. However, Litecoin (LTC) has failed to rally to its all-time high of over $400 and currently trades at about $88, an over 80% decline from its ATH.
Render (RNDR) Falls By 14% In 24 Hours.
Last month, Render (RNDR), a GPU rendering platform built on the Ethereum (ETH) network, fell by 14% in just one day, dropping from its all-time high of $14 to $9. According to information from the blockchain intelligence platform InToTheBlock, one reason for the sharp price drop was a decrease in the total number of addresses. The platform revealed in a chart that in March, the network recorded a spike in daily active addresses to 3530 but declined back to 1,540.
The metric experienced further lows to 624 after peaking over 2,220 on March 31. Also, analysis by IntoTheBlock indicates a decrease in user interaction with the Render (RNDR) blockchain. Currently, Render (RNDR) has surged past its $9 low to over $10 and ranks 26th in the crypto market, according to Coinmarketcap.
Conclusion
While cryptocurrencies such as Polkadot (DOT), Litecoin (LTC), and Render (RNDR) still have room to run, these assets have already had their day and are now effectively old coins. Newer coins such as ETFSwap (ETFS) provide the most opportunity for higher returns on investments, given that they are yet to go through a bull market.
During times like these in the crypto market is when the seeds are planted for the next set of crypto millionaires to be made.
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