Insight Into ETFSwap (ETFS) As Ethereum Price Hitting $6,000 Could Possibly Trigger Altcoin Season
The Ethereum price has made an impressive run over the last few days, which has led to discussions that ETH is set to begin its bull run. Based on historical trends, the Ethereum price could hit $6,000 soon and possibly trigger altcoin season. This altcoin season is when coins like ETFSwap (ETFS) could outperform Bitcoin.
Why The Ethereum Price Could Hit $6,000 Soon
Based on a historical trend, the Ethereum price could hit $6,000 soon enough. The Ethereum price action is currently mirroring its movement from last year before it hit a yearly high of $4,100 in Q1 this year. In 2023, the Ethereum price suffered a downtrend between Q2 and Q4, then proceeded to an accumulation range in Q3 and Q4 before eventually enjoying a breakout.
This same setup has played out this year, with the Ethereum price suffering a downtrend since the second quarter and entering an accumulation phase in Q3. The Ethereum price has now broken out above its overhead resistance at $2,800 and is up over 37% in the last seven days. If the Ethereum price were to replicate its price action from last year, it could reach $6,000 and possibly trigger an altcoin season.
An Insight Into The ETFSwap (ETFS) Altcoin
ETFSwap (ETFS) is an ERC-20 token revolutionizing exchange-traded fund (ETF) trading. Traders can use the altcoin to infuse in tokenized ETFs on the ETFSwap platform. Such utility places the ETFS token in an excellent position to thrive when the altcoin season begins.
ETFSwap (ETFS) will provide an easier and more straightforward way to access these traditional assets. Users will only need the ETFS token, which they will simply swap for their desired ETF. The altcoin bridges the gap between TradFi and DeFi worlds as users will be able to swap these tokenized ETFs for crypto assets and vice versa using ETFS.
The ETFSwap (ETFS) team has collaborated with MiCA-regulated banks to offer securities and crypto trading. This makes portfolio diversification much easier and enables to gain exposure to these asset classes in one place.
Meanwhile, ETFSwap (ETFS) also makes it easier to access ETFs, which are currently gaining a lot of hype, mainly thanks to crypto ETFs. The ETFSwap platform offers 24/7 market coverage, allowing users to buy, sell, and trade these ETFs anytime. This will enable users to benefit from the market gains these assets record after traditional trading hours.
Furthermore, traders will be able to trade ETF perpetuals on the ETFSwap (ETFS) platform. They can short or long these ETFs with up to 50x margin and hold these derivative contracts without expiration. This enables users to hedge against their assets in the underlying asset.
The ETFSwap (ETFS) token also provides access to other exciting offerings on the ETFSwap platform, which makes it a notable coin ahead of the altcoin season. Traders will be able to use the altcoin to access the platforms artificial intelligence (AI) powered trading tools. These AI tools, ETF Tracker and ETF Screener, analyze several market data and recommend the best ETFs.
The ETFSwap (ETFS) beta platform is expected to launch on the Ethereum main net anytime soon, having already gone live on the test net. Once the platform launches, traders will be able to use the ETFS token to trade in tokenized ETFs and crypto assets. The beta platform launch is strategic, as it is expected to happen before the altcoin season begins.
Conclusion
Traders can position themselves for the altcoin season with ETFSwap (ETFS) token in the ongoing bonus round of its presale at an affordable price of $0.05769. With its use case, ETFSwap (ETFS) could gain much attention when the Ethereum price rally triggers the altcoin season.
For More Information On ETFSwap and its presale:
Disclaimer: This is a sponsored article, and views in it do not represent those of, nor should they be attributed to, ZyCrypto. Readers should conduct independent research before taking any actions related to the company, product, or project mentioned in this piece; nor can this article be regarded as investment advice. Please be aware that trading cryptocurrencies involve substantial risk as the volatility of the crypto market can lead to significant losses.
Text source: ZyCrypto
