The excitement surrounding the launch of Spot Ethereum ETFs could wear off, analysts say, with the rising concerns about the potential change in the token's supply. Meanwhile, ETFSwap (ETFS) is catching the interest of cryptocurrency investors ahead of the Spot Ethereum ETFs launch.
ETFSwap (ETFS) Is The Premier Choice For Spot Ethereum ETFs Investors
ETFSwap (ETFS) is the premier platform for trading and investing in tokenized ETFs, such as Spot Ethereum ETFs. Investors looking to enhance their portfolios with additional income streams can also stake their preferred ETFs on ETFSwap (ETFS). By adding their assets to pools, they provide liquidity for traders to swap their ETFs and earn yields and rewards from trading fees on the platform.
ETFSwap (ETFS) users benefit tons from investing in ETFS, the principal currency within the ETFSwap ecosystem. Staking the ETFSwap (ETFS) token allows users to earn up to 36% from the platform’s staking pool. Furthermore, holding ETFSwap (ETFS) tokens gives users access to reduced trading fees and monthly airdrops from the ETFS reward pool.
ETFSwap (ETFS) gives its users the flexibility to open and close positions in the market at any time without compromising transaction costs, market slippages, and spreads. Traders can better manage their investments and respond to the dynamics of the financial market.
Enforcing its commitment to the privacy and security of users on the platform, ETFSwap (ETFS) has taken extensive security measures to strengthen its infrastructure. First, ETFSwap (ETFS) is built on the highly secure and scalable Ethereum blockchain. Also, no significant security risks were found when Cyberscope, a security auditing firm, performed a thorough platform audit. Finally, the team behind ETFSwap (ETFS) completed KYC verification by SolidProof, a smart contract security auditing firm, on July 10.
ETH Supply Could Tank Price Despite Spot Ethereum ETFs Launch
Analysts have voiced concerns that ETH might see an underwhelming price boost despite the introduction of Spot Ethereum ETFs. The Chicago Board Options Exchange (CBOE) delivered the much-anticipated news that five Ethereum ETFs would begin trading on the exchange on July 23 pending the SEC’s final approval. However, Into The Cryptoverse founder, Benjamin Cowen, predicted an ETH supply crisis could lessen the impact of the monumental event on the asset this year.
In an X (formerly Twitter) post, Benjamin Cowen forecasted that ETH’s continued ~60k/month supply increase since April could return the altcoin’s supply to pre-merge figures. The merge refers to the Ethereum blockchain’s transition to a proof-of-stake (PoS) system in September 2022.
The introduction of the Shanghai upgrade allowed traders to withdraw staked ETH, increasing the availability of the token as a tradeable asset. More unlocked ETH increases the circulating supply of the asset, leading to a price decrease due to price dilution. Cowen explained that the token's supply decreased by about 455,000 ETH by April 2024. If ETH continues down this road, the supply will return to what it was at the merge by December.
As such, Cowen predicts the price of the token might drop within the next 3-6 months despite the launch of Spot Ethereum ETFs. Onchain analyst, Leon Waidman, also pointed out the ETH supply crisis to his followers via X, emphasizing that the ETH supply side is tighter than investors realize.
As investors and traders eagerly await the final regulatory approval of Spot Ethereum ETFs, Cowen reminded investors to focus on monetary policy. While the analyst still believes in ETH’s price rally due to the positive news of Spot Ethereum ETFs, he expects the bullish run to be delayed for about 1.5 years.
Conclusion
As the public looks forward to the effect that Spot Ethereum ETFs will have on Ethereum’s (ETH) price, ETFSwap’s token presale has garnered increasing interest among traders and investors. At a discounted price of $0.01831 per unit, users can enjoy a 40% bonus with promo code “ETFS40”.
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