Ethereum-powered AirSwap (AST) surges as ETH ETFs attract billions in new inflows
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Spot Ethereum exchange-traded funds (ETFs) are making waves in the cryptocurrency world, drawing billions in new investments and reigniting interest in related projects.
Among the beneficiaries of this surge is AirSwap (AST), a decentralized peer-to-peer (P2P) trading platform built on the Ethereum blockchain.
Recently, AirSwap has experienced significant price movements and heightened investor interest, reflecting broader trends within the ETH ecosystem.
Ethereum ETFs draw record inflows
According to CoinShares’ latest report, Ethereum ETFs have attracted approximately $2.2 billion over the past week, marking the highest seven-day inflow figure since December 2020.
This substantial influx of capital has invigorated the Ethereum market, despite some setbacks from major players like Grayscale, which reported significant outflows.
Nonetheless, the impressive performance of Ethereum ETFs has spurred a notable increase in trading volumes, which surged by over 540% in recent sessions.
Soaring trading volumes
The launch of Ethereum ETFs has driven trading volumes to unprecedented levels not seen since May, reaching $14.8 billion in the previous week.
While Bitcoin has maintained its dominance, analysts attribute a significant portion of this trading activity to the impact of Ethereum ETFs.
This surge in volume has likely had a spillover effect on related projects, including AirSwap, which has seen a dramatic increase in investor activity.
In the past 24 hours, AST’s daily trading volume surged by 145%, exceeding $1.3 million.
This spike highlights growing investor interest and confidence in the platform.
What is AirSwap?
AirSwap is a peer-to-peer decentralized network that enables transactions on the ETH blockchain, aiming to make crypto deals secure, free, and smooth.
AirSwap’s trusted and user-friendly products allow investors to remove or add liquidity to the platform.
The absence of charges makes AirSwap unique, with its free nature enabling players to manage and monitor markets without concerns.
Also, AirSwap allows individuals to control their assets without personal verifications.
Further, the blockchain’s easy-to-use interface ensures smooth transactions.
Participants can integrate AST’s liquidity into decentralized applications with simple codes.
AirSwap sets itself ahead of the competition with its features designed to bolster blockchain accessibility.
Moreover, genuinely free transactions and failure to demand personal data attract users.
AST’s current price outlook
The altcoin demonstrated bullishness today. AST gained around 4% over the last day to trade at $0.09338.
Surged trading volumes amidst a recovering broad market drove AirSwap’s latest upsides.
The current market sentiment supports continued revival for AST.
Trump-driven rallies has propelled Bitcoin toward $70K, and analysts trust the bellwether crypto will explode to ATHs in the upcoming weeks.
Also, alt lovers believe an altcoin season is around the corner as a historic bull run kick-starts.
Exchange-traded funds, a recovering economy, and the US election narratives suggest a friendly environment for digital assets to flourish in the coming months.
AirSwap will likely remain on investor radar as the spot Ethereum ETFs kick-start an altcoin season.
The blockchain’s uniqueness, including free charges and respect for user information, positions AST as one of the candidates for the upcoming bull run.
The post Ethereum-powered AirSwap (AST) surges as ETH ETFs attract billions in new inflows appeared first on Invezz
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