An analyst recently hinted that a rare Bitcoin (BTC) on-chain indicator, known as the Puell Mutiple, is turning bullish, suggesting a rally is underway. Following this development, several investors have intensified their efforts to get an ETF token, ETFswap (ETFS), in the presale stage ahead of the bullish cycle. This article focuses on the on-chain indicator that turned bullish and why investors choose to invest in ETFswap (ETFS) among the flurry of assets in the crypto market.
CryptoQuant Analyst Reveals Bitcoin Puell Multiple Metric Dropping To Lows
An analyst that identifies as Crypto Dan has, in a quick-take post on CryptoQuant, pointed out that Bitcoin Puell Multiple, a metric that monitors the ratio between Bitcoin (BTC) miner revenue and its 365 days moving average (MA), has plunged to new lows recently. Bitcoin (BTC) miners validate the network and receive rewards for their hard work through block rewards and transaction fees.
When the Puell Multiple metric value is higher than 1, Bitcoin (BTC) miners earn higher rewards. However, when the Puell Multiple value is below one, Bitcoin (BTC) miners earn less, making mining unprofitable. The silver lining, though, is that a careful study of the Bitcoin Puell Multiple metric over the years shows that a surge in price often follows a crash in miner revenue.
Therefore, if history repeats itself, the recent drop in the Bitcoin Puell Multiple metric value, according to Crypto Dan, would birth a rally for Bitcoin (BTC) around Q3 of 2024. However, currently, Bitcoin (BTC) hovers around the $57,000 mark, according to Coinmarketcap.
Investors Rush To ETFSwap (ETFS) Ahead Of Crypto Rally
ETFswap (ETFS), a crypto ETF trading platform that offers traders the unique option of trading tokenized exchange-traded funds (ETFs), has recently seen an influx of investors into its ecosystem in its ongoing presale. The investors are taking advantage of the pocket-friendly price of $0.01831, which ETFswap (ETFS) offers its native token ETFS. Further, they are drawn to the automatic profit they stand to make when the ETFS token increases in price to $0.03846 per coin soon.
ETFS, which is a standard ERC-20 token, powers the ETFswap (ETFS) network and unlocks access to trading tokenized ETFs. Token holders also benefit from other platform functions, including leverage trading and fractional ownership. Further, unlike traditional ETFs, the tokenized ETFs will be fully convertible to cryptocurrencies. Since they will be on the blockchain, traders can monitor their progress using real-time on-chain data, enabling them to make well-informed decisions when trading.
The investors are also undoubtedly impressed with the ETFswap (ETFS) team, which recently passed a KYC verification by SolidProof, a smart contract security auditing firm based in Germany, boosting their credibility as a secured platform. Further, ETFswap (ETFS) has been certified by Cyberscope, a world-renowned blockchain security firm that thoroughly audited its smart contract to check for vulnerabilities. After a meticulous check, Cyberscope found no critical underlying issues that can weaken ETFswap (ETFS) against all cyber attacks.
Conclusion
As Bitcoin (BTC) and the crypto market prepare for a bullish rally following a decrease in Bitcoin Puell Multiple metric values, experts expect ETFswap (ETFS) to surge to $3 ahead of the bullish momentum. When that happens, all early investors will realize over 200x yield on their investments.
Also, as part of its long-term development plans, ETFswap (ETFS) intends to launch its ETF sometime in 2025 but is preparing to launch a beta version of the platform in less than 30 days. This opportunity is too good to miss, so investors are now intensifying their efforts to bag ETFS. Do not miss out, too: Buy ETFS at this low price today because this is the lowest the price will ever be!
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