Germany’s Bitcoin Sell-Off Plunges Crypto Market Into Disarray, Will The Bleed Continue?

The crypto market has continued to bleed thanks to Germany’s wave of Bitcoin sell-off. Bitcoin (BTC) dropped to as low as $55,000 during this period, while altcoins have also suffered massive declines. However, this hasn’t deterred whales, who have continued to accumulate more crypto tokens like ETFSwap (ETFS).

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Germany Still Selling Their Bitcoin Holdings

Data from the on-chain analytics platform Arkham Intelligence shows that Germany is still selling its Bitcoin holdings. In the last 24 hours, it has sent over 2.500 BTC to crypto exchanges Coinbase, Kraken, and Bitstamp. Germany has also sent 1,000 BTC to an unknown address (bc1qu3), which is believed to be an over-the-counter (OTC) trade. An additional 748 BTC has also been sent to the trading firm Cumberland.

This continues a recent wave of Bitcoin sell-offs from Germany, which negatively impacted the crypto market. These bitcoins form part of the almost 50,000 BTC that Germany seized from the pirated movie website Movie2k. Considering the rate at which Germany has continued offloading its Bitcoin holdings, it likely plans to sell all the BTC seized from Movie2k.

While that isn’t favorable news for the crypto market, the good news is that Germany’s Bitcoin holdings have significantly reduced, with data from Arkham Intelligence showing that the country only has about 6,000 BTC left. Bitcoin (BTC) and the broader crypto market are expected to recover once Germany is done offloading its Bitcoin holdings.

Investors have taken advantage of the decline in the crypto market to accumulate more Bitcoin (BTC) and other crypto tokens. Data from Farside Investors shows that the Spot Bitcoin ETFs have witnessed significant net inflows during this period, with institutional investors taking advantage of the crypto market dip.

Institutional Investors Are Also Buying ETFSwap (ETFS)

Institutional inventors are also buying ETFSwap (ETFS) during this market dip, considering that it is currently selling at a discounted price of $0.0183. Investors will need the ETFS token to access the tokenized exchange-traded funds (ETFs) on ETFSwap when the beta platform of the decentralized investment platform launches soon.

The ETFSwap (ETFS) token provides access to various commodities on the decentralized finance (DeFi) platform. Meanwhile, users can swap their ETFS tokens for other crypto assets on the trading platform. The ETFS token bridges the traditional finance (TradFi) world and the DeFi world as investors can swap their ETF holdings for cryptocurrencies and vice versa using ETFS.

The ETFSwap platform is redefining ETF trading by introducing exciting features for investors to leverage and enjoy maximum gains from their investments. Investors can use up to 50x leverage on the trading platform on each ETF trade to make enough profits from their conviction plays.

Investors no longer need to hold these ETFs before they can make massive gains from them, as ETFSwap (ETFS) has introduced perpetual futures in ETF trading. Users on the DeFi platform can hold derivative contracts, which allow them to bet on the future price of an ETF without expiration.

ETFSwap also has a staking feature that allows investors to stake their crypto assets while investing in ETFs. Users can earn up to 80% annual percentage yield (APY) from staking their ETFS tokens.

ETFSwap (ETFS) has great potential, and with a solid team behind the project, the trading platform and its native ETFS token are undoubtedly primed for long-term success. Solidproof, a Smart contract auditing firm, recently verified the team and certified them as credible, having met all the requirements for the verification process.

Conclusion On Buying ETFSwap (ETFS) Before The Crypto Market Recovers

The crypto market is expected to recover soon enough, especially once Germany is done selling their Bitcoin holdings. The ETFSwap (ETFS) token’s value will significantly increase once that happens. Considering this, it is best to buy the ETFS token now while it is still at its lowest so you can make maximum gains from it once the market recovers.

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Disclaimer : The above is a sponsored article and the views expressed are those of the sponsor/author and do not represent the stand and views of The Tribune editorial in any manner.