Crypto exchanges have recently witnessed a huge amount of stablecoin inflows. This development has led crypto traders to brace for the rise of the price of Bitcoin. They wonder what it means for the crypto market. Other coins like ETFSwap (ETFS) might follow the Bitcoin price as it rallies.
$9.3 Billion Stablecoin Exchange Could Lead to Higher Prices
Onchain analytics platform CryptoQuant revealed details regarding crypto exchanges Binance and Coinbase. Both platforms have witnessed $9.3 billion in stablecoin inflows these past few days. These stablecoin inflows are usually bullish for the Bitcoin price and indicate that it could rally further. Large-scale stablecoin inflows and subsequent upward trends between September 2020 and February 2021 had coincided with the Bitcoin price rallies.
Therefore, the Bitcoin price might continue to rally on the back of these massive stablecoin inflows into Binance and Coinbase. In a recent broadcast, trading firm QCP Capital stated that they expect the Bitcoin price to keep trending higher as the market enters the new year. The traders cited Donald Trump as one factor that could contribute to higher Bitcoin prices. Meanwhile, the stablecoin inflows will undoubtedly also play a role.
A BTC Rally is Positive for ETFSwap (ETFS)
Higher Bitcoin prices are positive for coins like ETFSwap (ETFS). ETFS is the native token of the ETFSwap investment platform. It simplifies how investors and traders invest in exchange-traded funds (ETFs). The decentralized finance (DeFi) platform tokenizes ETFs and enables them to be traded on-chain.
Investors and traders will be able to access these tokenized ETFs using the ETFS token. They will simply swap the token for their desired asset. The DeFi platform has also made the investment process more straightforward by making its Know-Your-Customer (KYC) requirements non-mandatory.
Investors can also trade anonymously as the DeFi platform will integrate zero-knowledge (ZK) proof technology. That enables investors and traders to trade without revealing their identity or any sensitive information. Furthermore, ETFSwap’s decentralized nature means investors can invest in these traditional assets from anywhere in the world using ETFS tokens.
24/7 Market Coverage and Other Features
Investors and traders will also be able to use the token to buy, sell, and trade these ETFs anytime. That’s because the DeFi platform offers 24/7 market coverage. Thanks to the platform’s market-making services, users can rest assured that their trades will be settled instantly with minimal slippage. The platform is built on Ethereum, so investors and traders will also have access to the network’s unparalleled liquidity.
Traders can trade ETF perpetuals on the ETFSwap (ETFS) platform. The platform offers derivative contracts that allow these traders to bet on the future prices of these ETFs without expiration. They can use up to 50x margin on their initial capital when trading these traditional assets.
Traders will also have access to artificial intelligence (AI) powered trading tools when they trade these ETFs. These AI tools will enable them to execute more successful trades as they analyze market data. That data includes market sentiment, historical trends, and trading volume, among others. The AI feature also recommends the best ETFs to invest in.
The ETFS token also provides access to other exciting features on the DeFi platform. For instance, investors and traders can stake their assets and earn up to 87% annual percentage yield (APY). They can also earn passive income by providing liquidity. Thus, they will be eligible for some of the fees token swaps make.
Conclusion
Factors like the stablecoin inflows and the Bitcoin rally provide a bullish outlook for other coins in the crypto market, like ETFSwap (ETFS). ETFSwap also looks bullish because of the ETFSwap beta platform, which will launch on the Ethereum mainnet soon. Investors and traders looking to bet on ETFSwap’s success can easily do so by buying the token in the ongoing bonus round of its presale.
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