Back

Ethereum (ETH) Price 'Explosive Upmove' Revealed by Investor Dan Tapiero

News
Thu, 06/04/2020 - 13:08
article image
Vladislav Sopov
Dan Tapiero, a vet of global macro investing and founder of Gold Bullion International investment conglomerate, reveals why the Ethereum (ETH) price may rally very soon
Ethereum (ETH) Price 'Explosive Upmove' Revealed by Investor Dan Tapiero
Cover image via www.youtube.com
Contents

Dan Tapiero noticed in a tweet that the Ethereum (ETH) price has broken above its 11-month level of resistance. He is guessing, whether the potential catalysts for a future upsurge are sufficient for further growth.

Searching for the catalysts

Mr. Tapiero revealed a chart of how Ethereum (ETH) price growth is gaining power. It is ready to reclaim the huge stronghold of the bears. The crucial resistance level is printed by the line between two peaks, of June 2019 and February 2020.

Dan Tapiero asks about ETH catalysts as price breaks above resistance
Image via Twitter

Fascinated by this perspective, Mr. Tapiero asked Crypto Twitter about the potential catalysts that may push the Ethereum (ETH) price forward in mid-term horizons.

Mostly, the comments emphasized the importance of the DeFi allocations upsurge and the movement of capital from Bitcoin (BTC) investors. Also, some speakers highlighted the significant number of 'noobs' entering crypto investments right now. 

Mr. Tapiero is very skeptical about the spike of the Ethereum Grayscale Trust (ETHE) stock price. He believes it has nothing in common with properly manned crypto adoption:

I take your point on noobs entering when I see something as totally ridiculous as the Grayscale trust premium. Horrible to encourage retail to own this thing at 800% premium. Not a great way to encourage adoption....into products that do not reflect a real price...embarassing.

Technology may be involved

Besides purely speculative reasons, the Ethereum (ETH) price is influenced by a number of great technological milestones reached by Ethereum (ETH) itself and some projects built atop this chain.

For instance, as U.Today Crypto News reported yesterday, Ethereum (ETH) 2.0 coordinator Danny Ryan published a long-read about its progress. This impressive text will strengthen the bullish narrative of the Ethereum (ETH) community.

Also, Ethereum-based OMG Network has inked a partnership with Tether (USDT). All ERC-20 Tether (USDT) transactions on Bitfinex will be confirmed through the Plasma scalability solution by OMG.

Another layer-two Ethereum (ETH) scalability solution by Matic Network has gone live in a mainnet version. Thus, the first days of Summer are particularly fruitful for the Ethereum (ETH) ecosystem in terms of technological progress.

article image
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?

News
Fri, 10/23/2020 - 09:24
article image
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?
Cover image via stock.adobe.com
Contents

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.

article image
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.)