The post ETH Spikes Past $3700 (18%) & ICO Sales of Ethereum-Blockchain’s Bitcoin Alternative Up +27% appeared first on Coinpedia Fintech News

The price of Ethereum (ETH) rose nearly 18% today to a high of over $3713.    Investors are ecstatic as they reel in massive profits, seeing an increase of nearly $700 per token in their wallets. And it appears some are also seeking other Ethereum-Blockchain investment options as the coming erc-20 Bitcoin altcoin, Mollars, jumped +27% in sales.

Why is the ETH price rising & will it continue?

The Ethereum token and blockchain are seeing massive ROI yields today as it appears, major investors have dumped money into the crypto market.   The exact companies behind the massive buying is not clear.

However, it’s being made clear now that higher-ups have been made aware that the Ethereum spot ETF is very likely to be approved this month.

The Ethereum Electronic Transfer Funds account is regulated by the United States SEC.  Cryptocurrencies that get approved for the ETF can be put on major exchanges of any kind and not just stuck on CEXES and DEXES.  

How does an ETF help cryptos & affect prices?

The SEC approval of an ETF opens the door to global financial institutions, with billions of dollars, to begin investing their holdings into crypto; In this case, specifically Ethereum.

That sudden flood of money affects cryptocurrencies as it’s a massive increase in demand for any token when this happens.  In layman’s terms, the in-flow of billions of dollars makes tokens more scarce and that scarcity drives up the price of a token or coin.

While Ethereum has no maximum supply of tokens for the long haul, at this moment it only has slightly over 120 million coins minted.  With all 120M of these coins sold already, most today are just buying fractions of an $ETH.  However,  if the market cap suddenly doubles, even those ‘fractions’ will be priced higher as more people want it.

Ethereum is designed for commercial, real-world use, however. It’s going to offer solutions to real-time and digital commerce, with the top blockchain of today processing each transaction.  With time, more $ETH will be minted, helping maintain semi-affordable prices.

Versus Bitcoin

At least that’s in comparison to Bitcoin.

Bitcoin, a store of value assets, only has 21 million coins in its total token supply.   Prices will continue to go upward since there is a ceiling that won’t change how much $BTC anyone in the world can purchase.  Not designed for commercial use,  the cryptocurrency’s only function is to help fight global inflation by continuing to drive prices upward.

Until this year, Ethereum-Blockchain never had a store-of-value token with a comparable infrastructure to Bitcoin  That allowed $BTC to far outperform $ETH coin’s All-time highs with ease.

However, all of this is about to change.

Ethereum-Blockchain has a store-of-value Token now

The Mollars token, currently in the Initial Coin Offering stage (Mollars.com), will launch in just over 1 week. On June 1st, the token presale ends and various crypto exchanges will list the token for the public to buy.

XT, Bitmart, and LBank exchanges have all publicly announced they will be among the first to list the Mollars token.   Between the 3, nearly 20 million traders will be introduced to the Bitcoin alternative.  And while that’s a lot of demand to be poured onto the new token, Investors on the crypto subreddit community are still hoping for the exchanges Mex C and Uniswap to list it as well.

The effects of such demand on Mollar’s token could be immense.

The “new Bitcoin of Ethereum Blockchain” has already achieved a noteworthy brand value. Crypto media outlets have just reported that the “Mollars” keyword is already being searched for at volumes that are between 50-90% that of billion-dollar brands, Bonk Inu (BONK) and Pepe (PEPE) tokens.   

The strong signals from Google trends reports would show that even the thousands of users that have already bought Mollars in presale are just a fraction of the traders watching. 

With the Ethereum (ETH) coin’s pump from the ETF news, it sent some traders to the Mollars ICO simultaneously with the ROI gains. Today alone, presales of the $MOLLARS Token are up +27% and those numbers could continue to be just as bullish as the $ETH coin’s price.

Easy profits make for easier future investment plays.

Why are ETH Traders Buying Mollars?

This “Mollars” token is the first SOV token on the ERC-20 network.  It will offer the store-of-value utility as Bitcoin (BTC) but be even more scarce.  It has a total token supply of only 10 million tokens and will even be the ‘cross-chain’ centrepiece, used to fuel a coming decentralized exchange on Mollars.cc.

That infrastructure of scarcity and multi-utility, alongside a faster blockchain than Bitcoin’s, is why Investors see a future for $MOLLARS. 

If the new ERC-20 token’s price follows a trajectory similar to that of Bitcoin but in an era where over 400 million people are already using crypto, the ROI gains could be far faster and with no foreseeable ceiling. 

True Decentralization

Also, the Mollars token will have no centralized influence, not even from the founding members. Neither the creator of the SOV token nor the team of developers will be gifted tokens free.  This is a major contrast from Bitcoin.

The $BTC was founded by Satoshi Nakamoto in 2011, just 13 years ago.  While most thought the digital world innovator was doing things only to fight for financial freedom from central banks and governments, it’s since been disproven. 

1-Million Bitcoins (BTC) Were Hidden By Founder; Kept Free

According to trusted audits, Satoshi kept 1 million of 21 million $BTC for himself.  This is what spawned the creation of $MOLLARS, along with the Bitcoin blockchain’s scalability & transaction fee issues. 

Mollar founder, who will remain anonymous, has made it crystal clear in the brand’s whitepaper and via animated videos that 100% of the total token supply will be ‘fair opportunity buying.’  In layman’s terms, everyone has the opportunity to buy all Mollars tokens the same way.

What is also good about the Mollars project’s policy as well, alongside the exchanges confirming listing, is that there is essentially no risk of rug pulls.   The cryptocurrency for Ethereum-Blockchain is the closest place to risk-free of all cryptocurrencies in presale today and before.

Less Expensive Blockchain Costs & Trade Fees

Beyond the security, the most important factor however is simply ‘savings’ provided by Mollars.  The “Mollars Saves Dollars,” as the mantra of its followers reminds everyone.

Bitcoin-blockchain became the most costly of all in 2023 and continues being a thorn in trader’s side in 2024.   The average trade costs around $15  as of April 2024, according to Statista.

In comparison, Mollar’s average trade fee is expected to be under 50% of the Bitcoin blockchain.   The average transaction is projected to cost under $7.

These transaction costs will add up over a year as each buy, sell, or convert action taken by traders must be paid. Before the transaction is completed, it will be taken from traders’ wallets.

With Mollars providing the ability to save investors 50% of those fees by staying on the Ethereum blockchain, which homes also the viable Crypto-coin option for commercial transactions in the future, the “Bitcoin Killers” is poised for a very interesting  future in decentralized finance.

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Filed under: Bitcoin - @ May 22, 2024 6:18 am