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Within the crypto space, meme coins like Pepe (PEPE) and Bonk (BONK) have been trending, drawing the attention of investors due to their tendency to skyrocket in leaps. On the other hand, utility coins have been the core of the crypto industry for years, offering users tangible value and real-world use cases. A prime example of a utility coin is ETFS, the native token of ETFSwap.
Unlike Pepe (PEPE) and Bonk (BONK), which experience regular price fluctuations, ETFS is a deflationary utility coin, which maintains its price within the ETFSwap ecosystem. This helps it compete evenly against prominent cryptocurrencies like Pepe (PEPE) and Bonk (BONK), giving it ample opportunities to outperform them.
Bonk (BONK) Price Recovers Slightly After Crashing 30%
Despite their widespread popularity, meme coins remain a highly volatile digital asset prone to massive price surges and also drastic declines. This characteristic is a common feature of coins without utility, as they are often fueled by social media trends and negative community sentiment, resulting in steep price drops.
Earlier in April, Solana meme coin, Bonk (BONK), faced a major setback in its previous price rally, plummeting by a massive 30% in just seven days, according to CoinMarketCap. This decline was also followed by a sharp drop in open interest and the cryptocurrency’s overall market capitalization.
The substantial slump had effectively raised the ire of traders, as many investors had lost significant profits from the unexpected decline. At present, Bonk (BONK) is trading at a price of $0.000027, reflecting an increase of 10.36% over the past week. The cryptocurrency’s price fluctuations are typical of meme coins within the crypto market, as these tokens are highly susceptible to the ever-changing social trends.
Currently, Bonk’s (BONK) 24-hour trading volume has declined by 11.26%, signaling a sense of caution amongst investors when trading the volatile meme coin.
27% Of Pepe (PEPE) Investors Lose Profits
In an X (formerly Twitter) post published in April, on-chain analytics platform, IntoTheBlock disclosed that approximately 27% of Pepe (PEPE) holders were experiencing losses. During this time, the cryptocurrency was witnessing subtle declines after recording double-digit gains in March, when the majority of popular meme coins were rallying.
As a usual pattern for most meme coins, Pepe (PEPE) is displaying strong bearish signals after briefly rallying. IntoTheBlock’s analysis of the meme coin has revealed mostly bearish signals, displaying a bearish net network growth of 1.69% and a decline in large-scale transactions of about 3.14%.
Simultaneously, CoinMarketCap’s data has revealed that Pepe (PEPE) is trading in the green zone, experiencing a price surge of 9.63% in the past 24 hours. As of writing, the cryptocurrency’s price is currently, sitting at $0.0000087. However, its 24-hour trading volume is down by 1.38%.
ETFSwap’s Utility Coin, ETFS, Beats Out Meme Coins
Despite having a highly volatile market, the crypto industry is also a space filled with promising crypto projects which offer investors various opportunities to generate substantial profits. As a utility coin, ETFSwap (ETFS) not only serves as a valuable investment asset, but it also has great use cases.
With the market cycle heating up, ETFSwap (ETFS) is steadily becoming a major magnet for prominent investors who are aiming to make maximum profits from the opportunities available on this platform. As the platform gets ready to surge even further, investors are taking notice of the profit potential and quickly delving into this innovative crypto project.
Additionally, investing in ETFS allows investors to directly buy and trade cryptocurrencies and ETFs on ETFSwap’s innovative trading platform. The platform strives to be one of the leading platforms, enabling users to gain access to tokenized ETFs.
It is designed to help users generate passive income by trading tokenized Spot Bitcoin ETFs and institutional ETFs. Users will also be able to take advantage of ETFSwap’s numerous trading benefits, including a 10x leverage on all trades, 24/7 access to its platform, staking capabilities, and lower trading fees.
The ETFS token is the cornerstone of the ETFSwap’s ecosystem which aims to offer investors lucrative opportunities only available in the tokenized ETF market. Investors are rapidly purchasing ETFS tokens in its ongoing presale, strategically amassing large quantities of the token before its value skyrockets and sheds more zeroes.
Those looking to become a part of this rapidly growing ecosystem can buy ETFS tokens at a modest price of $0.00854 in the first presale stage. ETFSwap is set to become one of the best cryptocurrency and ETF trading platforms, offering users a chance to diversify their portfolio with an asset class that holds the potential to generate substantial returns.
For more information about the ETFS Presale:
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Sam Chess is an utterly focused person looking for the minute details having potential to make a big difference. He is a writer and proofreader with a zeal to understand the cryptocurrency market. Additionally, he can be found trying to figure out the biggest mystery in the industry, Satoshi Nakamoto.
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