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Cryptocurrency News Articles
ETFSwap (ETFS) Leads Dogecoin and THE Shiba Inu Price Predictions for October With Promising Growth Potential
Oct 24, 2024 at 08:00 am
Based on Grayscale’s category of prospective tokens, which includes currencies, smart contract platforms, financials, culture, and utilities
Collectively known as altcoins, cryptocurrencies other than Bitcoin have been making waves in the digital asset market. In October, some cryptocurrencies have caught the attention of investors, including Dogecoin, ETFSwap (ETFS) and Shiba Inu. These altcoins have different features and market dynamics that contribute to their price performance this month.
According to Grayscale’s category of prospective tokens, which includes currencies, smart contract platforms, financials, culture, and utilities, ETFS is classified as a financial token that provides investors with a unique opportunity to diversify their portfolios.
In a bid to expand their investment horizons beyond the limitations of cryptocurrencies, many investors have turned to ETFS as a gateway to access a wide range of asset classes through tokenized exchange-traded funds (ETFs). These ETFs span across various domains such as real estate, commodities, equities, and market indices, among others.
Most crypto experts predict that ETFS is set to skyrocket in October due to its growing adoption rate and exciting features that allow investors to multiply gains astronomically. On the ETFS platform, investors can enjoy up to 5,000% gains using the 50x marginal trading capital feature. Additionally, all ETFs carry a 10x feature that automatically qualifies them for gains returns of 1,000%.
To further incentivize investors, ETFS offers annual percentage yields (APY) of 87% as rewards for staking their tokens. Investors have the option to stake stablecoins, Bitcoin, ETFS, ETF currencies, and more.
The recent launch of the ETFS beta platform on Testnet has generated bullish sentiments from investors as they eagerly anticipate the promising possibilities. With listings on major platforms like CoinMarketCap and the main launch of its beta platform expected in a few days, the price of ETFS is poised to surge astronomically.
During this period, investors will be able to participate in various liquidity pools, access real-time prices on all ETF currencies, and engage in staking activities to earn rewards.
Meanwhile, the second phase of the ETFS beta platform will introduce advanced AI-powered tools like the ETF Screener, ETF Filter, and ETF Tracker. These tools are designed to enhance investors' decision-making by highlighting the most profitable ETF investment options based on previous trends and present market conditions.
In a move to bolster investor confidence, ETFS has successfully completed its KYC verification process with SolidProof, a cybersecurity and blockchain audit firm specialized in protecting financial institutions and blockchain projects from hacks and all sorts of malicious activities.
To further secure user assets, ETFS collaborates with Mica-compliant institutions to provide secure trading of these ETFs.
Despite its popularity, the Dogecoin price has failed to offer significant value this year, except for its slight surge to $0.2201 in April 2024. This has been the best Dogecoin price in 2 and a half years, breaking the investor’s expectation of a surge to a new all-time high.
Prominent crypto analyst Kaleo recently predicted the Dogecoin price to surge beyond $1 due to the ongoing Memecoin Supercycle. If Kaleo’s prediction comes true, the Dogecoin price will turn twice the current ATH target. However, Kaleo also mentioned that we might have to wait a long time before the Dogecoin price gets to the $2 mark.
According to CoinGecko’s data, Dogecoin (DOGE) has a market cap of $17.8 billion with a daily trading volume of $1.7 billion. Currently, the Dogecoin price is at $0.1222, reflecting a 2.8% decline in the last 24 hours.
Since entering a sideways trend, the Shiba Inu price has encountered resistance at $0.000018 and found support at $0.000016. Currently, the Shiba Inu price needs help to find a clear direction, with its key momentum indicators signaling a weakening trend and reduced momentum.
However, the current Shiba Inu price has created a buying opportunity for large investors who have gradually accumulated SHIB in the recent past. If SHIB whales can successfully trigger a broader market buying frenzy, the Shiba Inu price could experience a 32% gain in October.
On CoinGecko today, the Shiba Inu price is at $0.0000179.
Disclaimer:info@kdj.com
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