The Ethereum (ETH) token is giving holders a rough week. Over the last 7 days, the price has slid from a high of $2,542 (USD) on January 18th to today’s price of $2207. Now some investors have begun moving funds to a new ERC-20 token presale to increase gains in these as the $ETH appears to be headed for a slump.
Over the week, Ethereum coins have lost over $300 in value. Some analysts predict the downtrend could bottom out at $1900, which is over an additional $300 lower than the current price.
Though the prediction may not happen, whales and sharks have begun moving funds to other options to cut losses.
One of the trends within the movements spotted among $ETH holders is their investing in a new Bitcoin alternative, Mollars ($MOLLARS), which will launch on the Ethereum-Blockchain in May (or earlier). Currently, in the presale stage, it’s had over 1,000,000 [million] tokens sold since its ICO launch.
Since the store-of-value token is on the same chain, it’s a low-cost move. More important to Ethereum (ETH) holders right now, however, is the Mollars token’s prediction to yield massive gains in a few weeks.
‘Crypto News’ show, a popular YouTube broadcast, highlighted the token just 2 days ago. The host, a crypto analyst, referred to the token as an ‘explosive’ potential after reviewing the project’s tokenomics, utility, marketing plan, and the low total supply of 10 million tokens.
Ari predicts the Mollars token will rise to 20x in value, which has since been backed by a CryptoNews.com analyst in a detailed report.
However, both of these predictions were made before Mollars developers were reported to be launching a new native blockchain of its own or a cryptocurrency exchange. Whichever is chosen, it will rely on the Mollars token to operate. That dependency will increase the new ERC-20 token’s daily transaction activity, scarcity of supply, demand, and branding value.
Other analysts have predicted that $MOLLARS could see a 44x increase in value from today’s ICO price of $0.45. If materialized, Ethereum (ETH) investors would see a $4400 return for every $100 invested.
Investing in the token presale is not just for the novice. Crypto whales and sharks, owners of heavy cryptocurrency bags, are vested in the Mollars project. A published list of the top 5 token holders via a single purchase, through January 23rd, revealed there have been several big spenders, buying between $4000 and $18,000 worth of tokens. Since that list, 2 new whales have joined the ranks of the Top 5 and most of these investors were Ethereum (ETH) whales.
The Token presale’s Ethereum transaction address also reveals there are 22 pages worth of history. On each page, there’s blockchain data revealed for 50 buy transactions completed. This means approximately 1100 Ethereum (ETH) traders’ wallets now hold Mollars as well.
The numbers are continuing to grow daily as well. An average of around 56 $ETH holders have been joining the presale per 24 hours. If this demand is kept up, nearly 1700 Ethereum traders will be migrating to Mollars per month.
The Ether crowd is not the only group migrating either. A huge Shiba Inu ($SHIB) migration happened nearly 2 weeks ago, causing over 300K Mollars tokens to be sold in a single 24-hour span.
The Mollars token presale website reports just over US$400,000 has been raised. Over 1.07 million tokens have been sold.
Ethereum Whales and Sharks have until May 2024 or the 4-million token hard cap to invest. It’s more likely that the 4,000,000 tokens being sold will end the initial coin offering. This milestone is likely to be reached in the coming month, February.
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