The recent bearish movement of Bitcoin (BTC) and its significant price drops over the last month are linked to a decrease in spot demand, as highlighted in reports from Glassnode.
In contrast, the ETFSwap (ETFS) DeFi token is currently being sold at $0.01831 during its highly publicized ICO, and veteran analysts predict a potential surge of 9,000% in the upcoming weeks, supported by high spot demand data from Glassnode.
Bitcoin (BTC) Faces Further Declines Due To Spot Demand Weakness
Leading market intelligence firm Glassnode recently conducted an analysis of Bitcoin (BTC) Cumulative Volume Data (CVD) to gauge the balance of buying and selling in the BTC spot market. According to Glassnode’s reports, Bitcoin spot demand has consistently shown selling pressure since crossing the $70,000 threshold and reaching all-time highs in March 2024.
Bitcoin (BTC) is currently trading at $59,200, facing potential further declines as Glassnode data indicates a negative CVD, signaling weakness in its market demand. Despite the volatility affecting the growth of multiple cryptocurrencies, the ETFSwap (ETFS) ICO token remains among the top gainers, thanks to significant demand for its presale token as indicated by Glassnode.
ETFSwap (ETFS) Poised for 9,000% Surge As Demand for Presale Token Rises
The ETFSwap (ETFS) viral ICO, available at a low $0.01831, is nearly sold out, with data from Glassnode demonstrating strong demand for the ETFS token, which is expected to increase by 9,000% upon its launch in the coming weeks.
ETFSwap (ETFS) offers a powerful opportunity for significant gains in the cryptocurrency market through its cutting-edge DeFi platform, enabling smart ETF traders and investors to easily tokenize real-world assets (RWA) and trade them on-chain. Users can receive rapid settlements of their tokenized assets and profits whenever they request redemption on the platform.
The DeFi platform operates around the clock, allowing small traders and investors to become crypto millionaires through high ROI tokenized ETFs. Investment options include commodities, leveraged, market, spot Bitcoin, spot Ethereum, equity, and bond ETFs, among others. Traders can utilize a 100x leverage to maximize returns on these tokenized ETFs and achieve gains of up to 50,000%. Additionally, they can trade futures and perpetual contracts of high ROI cryptocurrencies like Bitcoin (BTC) on the platform.
Unique features of the ETFSwap (ETFS) DeFi platform include its AI-powered tools, attractive trading discounts, low fees, and staking capabilities for ETFs. Users can stake their tokenized ETFs without providing liquidity to earn passive income and rewards of up to 87% APR in staking yields. Moreover, traders can swap several cryptocurrencies in DeFi mode, enjoying real-time market updates and customizable trading features tailored to their investment strategies.
ETFSwap (ETFS) is ranked among the top 5 most secure DeFi platforms in the industry. Its smart contracts are audited by leading global security firm CyberScope, confirming there are no security vulnerabilities or malware threats. The team has also completed KYC with SolidProof to verify their authenticity.
Conclusion
The ETFSwap (ETFS) presale token, priced at $0.01831, represents a significant opportunity in the crypto space, poised for a spectacular 9,000% growth as demand surpasses that of Bitcoin (BTC), according to Glassnode data.
For further details on the ETFS Presale:
The post Glassnode Says Bitcoin Decline Is Due To Weak Spot Demand, Here Is What It Means first appeared on BTC Wires.
