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Ethereum (ETH) Price Volatility Remains Similar to Bitcoin's (BTC) Despite DeFi Hype, Skew Analysts Say

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Tue, 06/23/2020 - 12:06
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Vladislav Sopov
Ethereum (ETH) holders have become increasingly confused as the second cryptocurrency remains stagnant amidst insane ETH-based DeFi performance
Ethereum (ETH) Price Volatility Remains Similar to Bitcoin's (BTC) Despite DeFi Hype, Skew Analysts Say
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Pale Ethereum (ETH) price gains are nowhere near the splendid performance of decentralized financial service assets. The latest releases of on-chain data insights look like one more cause for concern for Ethereum (ETH) bulls.

Volatility spread inches sub-zero zones

As revealed by the Skew analytic team, which provides in-depth analyses of various processes in the cryptocurrency industry, Ethereum's (ETH) volatility almost matches that of Bitcoin (BTC) despite the situation in both major crypto industry camps being fundamentally different.

Skew: Ethereum (ETH) price is as volatile as Bitcoin (BTC) one
Image via Twitter

Skew analysts announced that volatility on the Ethereum (ETH) options market is only 2% higher than on Bitcoin (BTC) markets. To compare, the yearly average level of this indicator exceeds 10%. 

During the Black Thursday market panic, Ethereum (ETH) was 45% more volatile than its competitor. Some traders, in a semi-ironic manner, noticed that Ethereans wouldn't again have a more attractive opportunity to buy the minimum 32-ETH stake required for validating in Ethereum 2.0.

Fundamentally, the Ethereum (ETH) price has an enormous quantity of catalysts. The upcoming roll-out of Ethereum 2.0, the rapid increase of the gas limit and, primarily, the insane hype around the DeFi segment could make its price go through the roof.

Bitcoin (BTC) doesn't have anything like that. It failed to surge after May 10th, demonstrating only fake 'Bart Simpson' rallies and hasn't managed to stay in five-digit zones for long. Its only anticipated technical milestone, the Schnorr-Taproot cryptography release, may not even be implemented by Q4, 2020.

It's the calm before the storm

However, analysts foresee that Ethereum (ETH) may make up for lost time in the mid-term perspective. Legendary investor Dan Tapiero is predicting an 'explosive upmove' of the Ether price due to strong technological and trading fundamentals.

Also, Dutch cryptocurrency trader and analyst Michael van de Poppe published a couple of charts suggesting that Ethereum (ETH) may reach $300 by the end of the Summer.

Prominent blockchain evangelist from Australia, Alex Saunders, has set even more ambitious targets for Ethereum (ETH). Discussing its prospects with Ethereum (ETH) devs and investors, he suggested that the four-digit level is in the cards.

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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.)