Despite being a powerful and versatile Layer 1 blockchain platform, Ethereum’s scalability challenges, especially its high network congestion, slower confirmation times, and higher transaction fees, have prompted other networks such as Sui (SUI) and Toncoin (TON) to take aim at its crown, while ETFSwap (ETFS) begins 10,000% rally.
Toncoin (TON) Surges Into Crypto Top 10
At a daily price increase of 13%, TON saw a massive price rise to $6.65 to reach a $23 billion market capitalization, becoming the ninth-largest cryptocurrency by market capitalization on April 9, according to data from CoinMarketCap.
Toncoin’s price action has been drastically outperforming Ethereum (ETH) in the past month. TON rose 130%, while ETH dropped by -5.61%. Its rise was buoyed by news that the Telegram Messenger app is embracing crypto technology and has recently transitioned from Euro to TON network payments for its advertising service. This caused the number of active TON blockchain wallets to skyrocket to 1.65 million in the past month.
However, at the time of writing, Toncoin (TON) is trading around $5.74, representing a dip below its all-time high of $7.6 earlier in April. The cryptocurrency has also witnessed a drop in interest from traders as its 24-hour trading volume is down by a significant 28.52% due to concerns among retail investors about Toncoin’s token distribution.
Data from CoinCarp revealed that well over 60% of Toncoin is held by 10 of its largest holders, while 100 of the richest holders have 93% of the total supply. This has pushed sentiments among investors higher towards the ETFSwap (ETFS) platform for its more secure environment that facilitates optimal trading practices.
Sui (SUI) Enjoys An Increased Takeover Of Assets Bridged From Ethereum (ETH)
Wormhole, a cross-chain messaging platform, provided data showing that over $500 million in assets were bridged from Ethereum to other blockchains, with the SUI blockchain receiving nearly 64%, or $310 million.
Last December, Sui reached 6,000 transactions per second (TPS) and achieved a milestone by generating 13.8 million blocks. This performance elevates Sui over blockchains like Ethereum (ETH), where such high traffic typically leads to increased gas fees. Sui, however, managed relatively low gas prices during this period of intense activity.
According to DeFiLlama data, the total amount of capital locked on Sui has risen nearly threefold from $211 million to a whopping $593 million since the turn of the year. The increasing total value locked in the SUI blockchain indicates its relevance among market participants.
The SUI token was up by 131% in the same period and saw a substantial price increase, trading at $2.17 in March this year. It does, however, remain to be seen whether SUI can maintain its momentum, with allegations from October last year still hanging over its founders, accusing them of manipulating the token supply, a claim they denied.
ETFSwap (ETFS) Maintains Momentum, Attracting More Investors With 10,000% Rally
Investors have been buoyed by the continuous massive inflow to ETFSwap (ETFS), despite the topsy-turvy price action of various cryptocurrencies this past month. ETFSwap (ETFS) is an institutional ETF trading and ETF administration platform that offers investors access to smart contracts that have been audited by CyberScope, revealing flawless security in its underlying infrastructure.
The platform also offers access to a highly liquid asset class of tokenized institutional ETFs with up to 10x leverage for trading in long and short options across all listed ETFS. This allows users to be able to maximize their profits from trading by up to 1,000%.
So, if you’re an investor looking to maximize your returns, now is the time to take advantage of the opportunity to earn passive income through buying and staking the ETFSwap’s native token, ETFS, and earn up to 87% in annual percentage rate (APR) yield.
The platform has successfully sold out over 50 million tokens in just Stage 1 of its presale, as crypto investors take advantage of its affordable price of $0.00854. However, the presale stage 1 is rapidly selling out, with high demand signaling strong belief in the platform’s potential for 10,000% gains.
For more information about the ETFS presale:
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