A top cryptocurrency trader made headlines in September after selling significant stakes in Ripple (XRP) and Solana (SOL) to invest in RCO Finance (RCOF), a project from the Ethereum ecosystem.
This strategic move has turned heads in the crypto community, raising questions about the reasoning behind this decision. As September unfurls, market participants are curious to understand what makes RCOF an attractive investment amongst a host of established digital assets. Let’s find out why this trader made this brow-raising decision.
Ripple Unlocks 1 Billion Token: XRP Risks Crashing
On September 1, Ripple released a fresh batch of XRP tokens into circulation, unlocking 1 billion. The unlock happened in three phases: 500 million tokens were unlocked in Phase 1, 200 million in Phase 2, and 300 million in Phase 3. At the time, these tokens commanded a market value of $560 million.
Following the unlock, XRP experienced a surge in trading volume and a price decline. This divergence further reinforced the bearish trend after readings from the Relative Strength Index (RSI) dropped below the midpoint to 45.23.
Additionally, the Parabolic Stop and Reverse indicator (SAR) on XRP’s 12-hour chart revealed dotting above the asset’s price range, suggesting a continuation of the downtrend.
Since the unlock, XRP has lost 0.5% of its market price, dropping from $0.566 to $0.563. Smart investors have opted for a more lucrative investment venture as the asset continues to plummet. Instead of XRP, they chose RCOF.
Solana Revenue Drops To Six-month Low Alongside User Activity
Revenue generated on Solana has cratered to a six-month low, having dropped 46% since August 1. According to findings reported on September 1, the reduction in the revenue generated on the layer-1 blockchain has mainly been attributed to the decline in on-chain activities.
In the past weeks, daily active addresses and transaction counts on Solana have equally dropped, accounting for the drop in revenue.
Artemis, an on-chain activity tracker, revealed that Solana’s daily transaction count has tanked by 22% to 29 million in the last 30 days.
Transaction fees also fell by 45% to $523,000. In addition, Solana’s DEX volume crashed to a six-month low of $7.7 billion in the previous week, per on-chain analytic firm Dune Analytics.
The SOL/BTC pair recorded a significant drop that had been underway since July 31. Based on recent market data, the exchange rate between the pair currently stands at 0.002. Meanwhile, SOL is down 15.31% to $130.70 in the last seven days.
Traders Switch From Solana And Ripple To RCO Finance For Profit
September has ushered in a tremendous boost for RCO Finance, as an anonymous crypto trader reportedly sold their XRP and SOL holdings to acquire RCOF, the Ethereum-based project’s native token.
The profit potential of RCOF is nothing short of attractive, given that investors were offered the opportunity to multiply their capital 30 times by the end of the token’s ongoing presale.
However, the attraction does not reside only in RCOF as RCO Finance also embodies special distinctive qualities that make it an upcoming giant in the DeFi sector.
RCO Finance is a decentralized trading platform created with automated features on the Ethereum blockchain. It is the first platform to incorporate an AI-powered robo-advisor, a tool designed to aid traders navigate the volatile crypto market.
With over 120,000 tradable assets on RCO Finance, the robo-advisor will help filter out the noise by sharing insights on which asset to buy or sell and when.
The robo-advisor offers an automated trading experience in that it sweeps the market for investment opportunities, conducts necessary analyses on prospects, and invests on behalf of investors.
It also provides strategic investment recommendations based on individual traders’ financial goals and preferences. For example, if an investor trades only stocks, the robo-advisor would recommend the best stock to invest in for maximum profit.
DeFi participants can also stake farm yields, participate in airdrop events, and collect low-interest loans on RCO Finance. Due to its no-KYC approach, they can enjoy all these services anonymously. SolidProof audited RCO Finance’s smart contract to determine its integrity and security.
RCOF Enters New Users Portfolio For September
Since the start of September, RCOF has continuously gained the attention of market participants, with some swapping some of their cryptocurrencies for the Ethereum token.
Still, in Stage 2 of its presale, RCO Finance has generated $1.77 million from RCOF sales, suggesting that whales are involved in this sale. As such, bystanders may want to reevaluate their stance and take action before it is too late.
With RCOF poised for a rally to $0.4 to wrap up its presale, investors can realize 10X their capital. However, this opportunity is limited to time. Also, RCOF holders will earn quarterly dividends and tier-based rewards depending on the number of tokens they hold.
So, what are you waiting for? Buy RCOF now!
For more information about the RCO Finance Presale:
