Here’s Why The Bitcoin, Ethereum, And Dogecoin Prices Rose Rapidly Last Week

Here’s Why The Bitcoin, Ethereum, And Dogecoin Prices Rose Rapidly Last Week
фото показано с : bravenewcoin.com

2024-10-7 22:00

The launch of Spot ETFs (exchange-traded funds) contributed to the September rally of Bitcoin (BTC) and Ethereum (ETH) due to increased ETF inflows. Additionally, Dogecoin (DOGE) benefited from market optimism, which drove speculative interest. ETFSwap (ETFS), on the other hand, is prepared to facilitate the swapping of these leading crypto tokens through ETF trading.

ETFSwap (ETFS) Will Facilitate ETF Trading

The trading of Spot ETFs (exchange-traded funds), both cryptocurrency-focused ETFs and institutional ETFs, has redefined the world of decentralised finance (DeFi) and traditional finance. ETFSwap (ETFS) is a pioneer of ETF trading by tokenizing real-world assets, including gold, oil, and corn, into digital tokens. Hence, these tokenized ETFs can be traded or swapped with crypto ETFs.

Additionally, ETFSwap (ETFS) has been garnering the interest of institutional investors, providing them with an alternative to participate in decentralised trading without the need for intermediaries. As such, institutional investors, as well as Bitcoin (BTC) and Ethereum investors, can contribute to ETFSwap’s (ETFS) liquidity pool and earn ETFS tokens as a means of generating passive income. Their contribution helps in creating efficient and smooth trading transactions without slippages.

ETFSwap (ETFS) allows traders to extend their position size by 50x, which amplifies their profit potential by 50 times. This enables users to control a larger position with a smaller capital, thereby increasing the returns on investment when the market moves in their favour.

Furthermore, the platform’s backend development has been completed in preparation for the phase 1 beta. During the beta phase, users can test the software’s functionality in real-world scenarios and discover the exciting features of ETFSwap (ETFS).

ETFSwap (ETFS) takes security to be an essential part of its platform. The platform underwent thorough security audits to prevent security vulnerabilities by Cyberscope, a cybersecurity auditing firm. Additionally, to maintain compliance and regulatory standards, the platform’s team completed KYC verification by SolidProof, a smart contract security auditing firm.

Spot ETF Inflows Spark Rapid Rise In Bitcoin And Other Top Altcoins

Despite the unpredictable volatility seen in recent months, Bitcoin (BTC) closed its most bullish September in over a decade, which is rare for the asset class. CoinGecko reports the price of Bitcoin (BTC) to be at $64,000 after retesting a demand zone.

CryptoQuant, a renowned on-chain data analytics platform, highlights via X (formerly Twitter) the growing net inflows into Bitcoin ETFs as a key factor. Over $1 billion in Bitcoins (BTC) was invested in one week, indicating interest from institutional and retail investors.

CryptoQuant noted that short-term holders of Bitcoin (BTC) are now in a profitable position and may be tempted to sell, but the $63,000 level will act as a support level for Bitcoin (BTC). Ethereum (ETH) is also receiving significant interest from investors.

According to Coinmarketcap, Ethereum (ETH) has a current price of $2,642. While Ethereum’s (ETH) price surge is minimal as compared to Bitcoin (BTC), anticipation has been surrounding Ethereum’s (ETH) network upgrades. Also, the growing DeFi adoption in Ethereum (ETH) has driven its price upwards.

Dogecoin (DOGE), widely considered the king of meme coins, has shown similar bullish reversals in price levels with Bitcoin (BTC) and Ethereum (ETH). This is because Dogecoin (DOGE) tends to move in tandem with both cryptocurrencies, thereby increasing the price of Dogecoin (DOGE) when the broader crypto market rises in value.

Meanwhile, fed rate cuts in the financial markets have benefitted risk assets, including Dogecoin (DOGE). According to CoinGecko, the price of Dogecoin (DOGE) is $0.11853, up from a price of $0.08117 in August.

Conclusion

Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE) are the leading cryptocurrencies in the bullish market. However, ETFSwap (ETFS) is the cryptocurrency with the potential for more gains. After the presale ends, the price of ETFSwap (ETFS) could increase by 10,000%. ETFSwap (ETFS) currently has a price of $0.03846. Users can enjoy a 50% discount when they use the “ETFS 50” promo code.

For more information about the ETFS Presale:

Visit ETFSwap Presale
Join The ETFSwap Community

This is a sponsored article. Opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before taking any action based on information presented in this article.

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Dogecoin (DOGE) на Currencies.ru

$ 0.3833 (+0.48%)
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Cегодня L: $0.3729 - H: $0.3865
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dogecoin prices ethereum bitcoin doge drawing eth

Источник: bravenewcoin.com

dogecoin prices → Результатов: 126


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