The approval of Ethereum Spot ETFs by the US Security and Exchange Commission (SEC) on May 23, 2024, was a landmark victory for the crypto industry and altcoins. Following the approval of these Ethereum Spot ETFs, ETFswap (ETFS), an Ethereum (ETH) based token, recorded highs in its ongoing presale, creating a fear of missing out among investors, while Ondo Finance (ONDO) and Pendle (PENDLE) have failed to impress their investors. Let’s see why
ETFSwap (ETFS) Ignites FOMO Following Ethereum Spot ETFs Approval
ETFswap (ETFS) is one of the platforms leveraging asset tokenization to bring real-world assets into the blockchain. Its novel idea is to tokenize exchange-traded funds (ETFs) such as Ethereum Spot ETFs. By tokenizing these ETFs, the platform allows everyone interested in the crypto community to invest in all types of ETFs at an affordable rate.
Individuals who choose to trade the tokenized ETFs will access it on a comprehensive marketplace tailored to the needs of both experts and newbies. However, they will need to hold a portion of ETFS, the platform’s native token, which will not only serve the purpose of governance and utility but also unlock access to every feature on the platform.
As a deflationary token, ETFS has what it takes to remain relevant in a competitive market. Further, to protect its ecosystem and users, the platform has completed an audit of its smart contract by Cyberscope, a world-renowned blockchain expert. After a meticulous check, Cyberscope found no serious underlying issues that could make it vulnerable to cyber attacks in the future.
Ondo Finance (ONDO)
Ondo Finance (ONDO) is one of the blockchain platforms spearheading the tokenization rally by introducing a stablecoin alternative, USDY, backed by US treasuries and offering over 5% APY. Also, there is the OUSG token, a tokenized representation of the BlackRock iShares Treasury Bond.
The platform is also invested in DeFi lending through its lending arm, Flux Finance, which offers loans backed by stable collateral. In April 2024, Ondo Finance (ONDO) partnered with Noble, a native asset issuance network, to deploy its USDY products on the Cosmos (ATOM) ecosystem.
ONDO is Ondo Finance’s native token and it serves utility and governance, enabling token holders to play an active role in how the network operates. Ondo Finance hit an all-time high of $1.33 on May 26 as excitement built up after the Ethereum Spot ETFs approval.
Many in the crypto market speculated its next stop would be to surge past $2, but the reverse was the case as the token has decreased in value, failing investors who expected it to keep riding the bullish wave. Currently, Ondo Finance (ONDO) trades at $1.18 and ranks 60th in the crypto market, according to Coinmarketcap.
Pendle (PENDLE)
Pendle (PENDLE) finance is a blockchain platform that enables the creation and trading of tokenized yield through a fixed-rate lending market, when a user deposits yield-bearing assets on Pendle (PENDLE), the capital and interest are separated through a smart contract by minting principal and yield tokens.
Pendle (PENDLE) also utilizes automated market makers (AMM) algorithms to assist users in trading these tokens. Further integration with lending protocols like Lido (LIDO) and Frax (FRAX) has helped the platform see significant growth in its total value locked (TVL).
PENDLE, Pendle’s native token, surged to an all-time high of $7.52 in April 2024 and was barely affected by the Spot ETF product approval. Instead, it continues to stray by over 9% from its ATH. With Ethereum Spot ETFs leading the market, altcoins like ETFSwap (ETFS) continue to be the better choice.
ETFswap (ETFS) Presale And Conclusion
Compared to Ondo finance (ONDO), which had a short-lived bullish trend, and Pendle (PENDLE), which wasn’t affected by the Ethereum Spot ETFs approval, the reverse is the case for ETFswap (ETFS), which is currently in its presale stage 1. During this round, the platform is offering the token at $0.00854 per coin, and when stage 2 kicks off, it will increase to $0.01831, sealing all stage 1 investors’ chance for profit.
Following the Ethereum Spot ETFs product approval, the total number of tokens sold on ETFswap (ETFS) presale jumped to over 90 million, signaling increased investor interest. So don’t miss out; join the ETFswap (ETFS) presale today to increase your chance of cashing out big on your investment in 2024.
For more information about the ETFS Presale:
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