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

News
Fri, 06/05/2020 - 13:51
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
Cover image via stock.adobe.com
Contents

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.

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.)

Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director

News
Mon, 07/13/2020 - 14:38
Vladislav Sopov
John Lilic, managing director at ConsenSys decentralized development studio, has shared an over-bullish prediction for Ethereum (ETH) progress
Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director
Cover image via stock.adobe.com
Contents

John Lilic leads international business development in the ConsenSys leading blockchain development studio. He is also an expert in energy markets and cryptocurrency segments. He tracked the progress of Bitcoin's (BTC) and Ethereum's (ETH) market capitalization statistics, coming up with an extravagant prediction.

Bitcoin (BTC) should get ready for parity

Mr. Lilic outlined that Ethereum (ETH) is showcasing much healthier dynamics than its competitor is. For instance, the flagship cryptocurrency still surpasses Ethereum (ETH) by 6.3x in terms of market capitalization, while simultaneously collecting 20% fewer fees than Ethereum (ETH).

John Lilic of ConSensys foresees parity of Bitcoin (BTC) and Ethereum (ETH) market capitalizations
Image via Twitter

Also, Ethereum (ETH) is demonstrating much more impressive price dynamics this year. It gained almost 37% against Bitcoin (BTC) in 2020. That said, Ethereum (ETH) looks severely undervalued to the top manager of ConsenSys.

However, Ether is on the path to eliminating this discrepancy. Eventually, the top two cryptocurrencies may reach market capitalization parity, concludes Mr. Lilic.

Related Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains
Related
Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains

As covered by U.Today Crypto News recently, Coinmetrics on-chain research team called Bitcoin (BTC) and Ethereum (ETH) the unique crypto behemoths that have managed to recover from Black Thursday.

Bitcoin (BTC) is losing supremacy in "fee race"

Should Ethereum (ETH) overcome its undervaluation, its price may be over $1,550 based on liquid supply and current Bitcoin (BTC) market capitalization.

Recently, it was unveiled that Ethereum (ETH) blockchain continues to surpass Bitcoin (BTC) in terms of network fees for more than 30 days in a row. Ethereum (ETH) is seeing this advantage for the first time in its history.

As U.Today Crypto News reported previously, ex-Messari analyst and angel investor Qiao Wang identifies two main catalysts of Ethereum's (ETH) price run in the mid-term perspective.

Related Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang
Related
Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang

According to Wang, the upcoming rally may be fueled by a long-awaited transition to Proof of Stake and fixing the monetary policy of Ether token.

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.)