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Cardano (ADA) Back in Top-10 of Shelley Progress Announcements

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Sun, 05/31/2020 - 14:39
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Vladislav Sopov
In three days, Cardano (ADA) has surged almost 50% and continues to rise. Analysts are sure that the rally is nowhere near its end, which doesn’t involve speculation.
Cardano (ADA) Back in Top-10 of Shelley Progress Announcements
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Cardano (ADA) is the undisputed top performer among all crypto behemoths. Its price has surged 18.7% in the 24 hours and its market capitalization surpassed the $2.5B mark.

Welcome Back to The Top-10

During the Cardano (ADA) rally, the cryptocurrency surpassed Tezos (XTZ) in terms of market capitalization. Currently, ADA is ranked 10 caps list of the crypto market.

Cardano (ADA) back in top-10
Image by Coingecko

This achievement was celebrated by Charles Hoskinson, Founder of IOHK, the development and engineering company behind Cardano's blockchain progress. 

Cardano (ADA) leader Charles Hoskinson celebrates ADA revisits top-10
Image by Twitter

This price rally may be attributed to the optimistic announcements regarding the progress from the Shelley testing. Shelley is the next stage for the Cardano (ADA) platform development, which is associated as the ultimate level of decentralization.

Now Shelley is intensifying its testing within the F&F Testnet. Recently Mr. Hoskinson mocked all of the Cardano (ADA) skeptics who doubted the launch of smart contracts in 2020.

In his exclusive interview with U.Today, IOHK's Founder highlighted that with the Shelley mainnet launched, the platform will be unmatched 'from every dimension'.

Gavin Andresen May be Wrong About Altcoins

Top cryptocurrency analysts are sure that Cardano's brilliant price rally will continue. Seasoned trader Michael van de Poppe indicated that breaking above the next resistance level may bring ADA above its psychological level of $0.1.

CryptoMichael is very optimisic about ADA rally
Image via Twitter

It should be noted that Gavin Andresen, an original member of the Bitcoin Foundation, recently announced that he thinks that altcoin prices are driven only by speculations.

It looks like last week challenged these estimations. Apart from Cardano (ADA), IOTA (MIOTA) jumped 15% on the news of its Hornet node software update.

The price of Ethereum Classic (ETC) also went through the roof on the expectations of its Phoenix hardfork.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

Grayscale Assets Under Management Surge $300,000,000 in One Day. What Does This Mean?

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Fri, 10/23/2020 - 09:24
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Vladislav Sopov
Grayscale, undisputed giant of institutional crypto investments, is celebrating another monstrous milestone, adding a nine-digit sum to AUM in 24 hours
Grayscale Assets Under Management Surge $300,000,000 in One Day. What Does This Mean?
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Grayscale is an investment company that provides the clients with an exposure to digital currency markets eliminating the need to buy tokens. The firm does it by selling shares of 'trusts' related to certain digital assets. The recently started FOMO has already brought Grayscale's 'asset under management' (AUM) values to previously unseen levels.

Grayscale assets are on steroids

In its most recent report shared in a tweet, Grayscale Investments stated that its net AUM now surpasses $7,300,000,000. Mostly, this upsurge should be attributed to the spikes of Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC) prices.

Grayscale adds $300M to its AUM in 24 hours
Image by Twitter

Its founder, CEO of Digital Currency Group Barry Silbert, unveiled that Grayscale’s holdings added a whopping amount of value in the last 24 hours.

Added a cool $300 million in AUM in one day

In terms of separate ‘trusts’, the most impressive increase is associated with Litecoin (LTC). Its value added almost 10% bringing its total to over $34 mln. 

Bitcoin (BTC) allocation surged above $6 bln with a 5% increase. Notorious Grayscale Ethereum Trust (ETHE) added 6% and now is valued at $942 mln.

PayPal assists Grayscale

By contrast, Stellar Lumens (XLM) and Bitcoin Cash (BCH) trusts witnessed mediocre increases of 2-3%. The only integral product of Grayscale, Large Cap Trust that unites the most valuable coins under its umbrella, therefore, added less than 4%.

The numbers of Grayscale Investments positions rocketed due to the rapid spike of crypto prices associated with PayPal’s decision to add major digital assets to its instrument toolkit.

As covered by U.Today previously, PayPal announced that Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) will be added as payment methods by the end of this year.

  

Following this surprising news, Bitcoin (BTC) revisited its multi-months high over $13,000. At press time, its price has slightly retraced and flirts with the $12,800 level.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)