Grayscale Ethereum Trust Stocks (ETHE) Continue Insane Pump, Analysts Heavily Concerned

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Fri, 06/05/2020 - 13:51
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Vladislav Sopov
Ethereum Trust Stocks by Grascale (ETH), the OTC papers that allow traders to benefit from cryptocurrency market moves without buying tokens, keep surging.
Grayscale Ethereum Trust Stocks (ETHE) Continue Insane Pump, Analysts Heavily Concerned
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ETHE Stocks, trading on American over-the-counter platform OTCQX, are 83% up from June 1st, 2020. Today, this asset gained almost 21% and has kept surging.

Where real decoupling occurs

It is obvious that the insane upmove has no sign of correlation with its basic indicator, the Ethereum (ETH) price. The second cryptocurrency has gained only 3% this month. ETHE's enormous run even shrugged off the fake 'Bart Simpson' rally of June 1-2.

Grayscale Ethereum Trust Stocks (ETHE) keep pumping
Image by Google Finance

It is worth noting that, according to the official statement of Grayscale, one asset of this investment instrument (ETHE) represents only 0.094 Ethers (ETH). As a result, people buy it with an almost four-digit premium.

Grayscale Investments also offers Bitcoin (BTC) trust stocks. This fund aggressively buys Bitcoins (BTC). It is Grayscale who has bought 50% more Bitcoin (BTC) than every Bitcoin (BTC) miner managed to obtain as a miner's reward last week.

Grayscale Investmenta allocated 40% more Bitcoins (BTC) that all miners on Earth managed to produce
Image via Twitter

Seasoned analyst Preston Pysh is impressed by this aggression and is guessing why Grayscale is the only investment vehicle to benefit from this overhyped demand.

Euphoria with no reason

Top-level advisor and blockchain analyst Qiao Wang, the co-founder of the Messari analytical team, believes that no reasonable catalyst can be found behind this rally of Grayscale Ethereum Trust Stocks (ETHE).

Qiao Wang is sure that hype around ETHE has no reason
Image via Twitter

He emphasizes that gaining exposure to the price movement of Ethereum (ETH) through such an exotic vehicle has no benefits in terms of liquidity influx or taxation regime.

As reported yesterday by U.Today Crypto News, investment legend Dan Tapiero predicted the 'explosive upmove' of the Ethereum (ETH) price. He asked the crypto community about the potential mid-term catalysts.

Experts answered that it might be due to newbies arriving, crucial technological milestone achievements from Ethereum-based products or the lucrative prospectives of the Ethereum (ETH) 2.0 staking roll-out.

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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.)

2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250

News
Fri, 01/15/2021 - 18:02
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Vladislav Sopov
Ethereum 2.0 enthusiasts deposited whopping sum in its contract launched six weeks ago
2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250
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While crypto markets are trying to get out of the most painful correction in this bullish cycle, the Ethereum 2.0 deposit contract accomplishes another crucial milestone.

ETH2 deposit contract surpasses $3,000,000,000 level

According to leading Ethereum network observer Etherscan, the Ethereum 2.0 deposit contract (0x00000000219ab540356cBB839Cbe05303d7705Fa) allocated more than 2.5 million Ethers. New 32-ETH stakes are transferred to it every minute.

ETH2 deposit contract breaks above $3B
Image by Etherscan

As the correction of the Ethereum (ETH) price ended, ETH is changing hands at $1,225: the $1,250 level was too difficult for bulls to conquer. Meanwhile, even at press time, it is worth almost $40,000 to join the club of Ethereum 2.0 stakers.

Therefore, the USD-denominated value of assets locked in the contract surpassed $3 billion for the first time ever and keeps surging.

It should be noted that Ethereum 2.0’s deposit contract went live on Dec. 1, 2020, heralding the start of ETH2 Pase Zero or Beacon Chain, the inaugural stage of Ethereum 2.0.

Ethereum 2.0 “entry tickets” become really expensive

At press time, more than 52,267 addresses transferred money to the deposit contract.

Ironically, Black Thursday in Crypto (March 13, 2020) was the most convenient time to join Ethereum 2.0 staking with Ether at $95. Today, Ethereum (ETH) enthusiasts should pay 13 times more to have a minimum amount of Ethers required for staking.

Ethereum 2.0 is a proof of stake (PoS) iteration of the Ethereum (ETH) protocol. It replaces mining by staking and splits the whole Ethereum (ETH) network into several interconnected sub-chains (shards).

According to Staking Rewards analytical dashboard, annualized rewards for ETH staking are estimated between 10.4 and 10.6 percent.

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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.)