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Ethereum (ETH) Price Refuses to Pump Now, But May Follow Mid-Caps, Analysts Say

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Fri, 06/19/2020 - 14:28
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Vladislav Sopov
Ethereum (ETH) price growth is lagging behind the ongoing DeFi token rally. Ethereum (ETH) ecosystem contributors are figuring out whether that is cause for concern
Ethereum (ETH) Price Refuses to Pump Now, But May Follow Mid-Caps, Analysts Say
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The global cryptocurrency community is excited by the rapid price upsurge of some native assets of decentralized financial instruments. COMP, the governance token of Compound Protocol, is inching closer to Binance's CoinMarketCap Top-20 with almost triple-digit daily gains.

Ethereum (ETH) price lags

At the same time, the Ethereum (ETH) blockchain is remaining the nucleus of decentralized financial vehicles. So, with such a splendid use-case, it should also skyrocket. However, it is demonstrating a pale performance.

Ryan Sean Adams waits for Ethereum (ETH) price rally
Image via Twitter

Ryan Sean Adams, a seasoned cryptocurrency investor, is confused by this dissonance. According to his tweet, Ethereum (ETH) 'went parabolic' with its last globally recognized use-case, ICOs of 2016-2017.

So, it should follow the same pattern with the expansion of DeFi,  but it has failed. Mr. Adams asked his Twitter audience about the possible reasons for this discrepancy.

Anthony Sassano, marketing officer in Set Protocol, EthHub community co-founder and host of Into the Ether podcast, believes that Ethereum (ETH) and Bitcoin (BTC) prices will spike after the exhaustion of the mid-cap token rally.

Mr. Sassano added that large-cap assets like Bitcoin (BTC) and Ethereum (ETH) print other sorts of cycles such as low-caps and mid-caps. The last two categories are subject to much more explosive pumps.

Ethereum (ETH) price targets $1,000

According to the most popular Australian blockchain evangelist Alex Saunders, Ethereum (ETH) needs nothing but time to reach full steam. And it could still revisit four-digit waters in the next rally.

As covered by U.Today Crypto News, prominent blockchain researcher Chris Burniske announced that we're only approaching the epoch of the DeFi rise.

His views are shared by seasoned investor and CEO of Three Arrows Capital, Su Zhu, who treats DeFi as a more sustainable and reliable catalyst for further Ethereum (ETH) price growth.

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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.)