Ethereum

Almost all markets across the world have been in turmoil owing to the economic uncertainties brought about by the coronavirus pandemic, and in that regard, the crypto market has been no different. However, one of the major cryptocurrencies to have made a remarkable recovery since hitting its lowest levels in March is Ethereum (ETH), and it is important to take a closer look at it. In this regard, it should be noted that ETH is the second-biggest cryptocurrency in the world, and its recovery might have an impact on the wider crypto market.

Major Triggers

The recovery has been quite remarkable, and it is only natural that investors are taking note of Ethereum since it rose 125% from its lowest levels. In a new development, it has now emerged that Grayscale Investments has acquired as much as half of all the ETH tokens that had been mined this year.

The actions of Grayscale could well be one of the major reasons behind the rally enjoyed by the cryptocurrency this year. According to a post that was published on Reddit, Grayscale now owns 1.1% of all the ETH tokens that are currently in circulation.

It is a significant development for ETH and marks the entry of an entity that looks after the interests of institutional investors. Grayscale is currently focused on a total of 10 cryptocurrency-related investment products and primarily caters to the interests of institutional investors.

>> ETH is in Focus Ahead of Ethereum 2.0: What to Expect?

At this point, Grayscale has investments worth $2.7 billion in its books, and out of that, the Ethereum Trust consists of investments to the tune of $234.7 million. It needs to be kept in mind that over the years, it has been said that the flow of institutional money is going to be the main trigger behind the growth of the crypto market, and it seems like perhaps this is finally happening. It remains to be seen how this latest development affects the attitudes of other investors with regards to Ethereum.

Featured image: DepositPhotos © Violka08

Please See Disclaimer

If You Liked This Article Click To Share

/* p > a { text-decoration: none; color:#000 !important; } .crec-ad > p > a:hover { color:#000 !important; text-decoration: underline; } @media(min-width:1228px){ .crec-image img{ width:191px; height:100px; } } @media (max-width: 1228px) { .crec-ad { width: 50%; box-sizing:border-box; } .crec-image img{ width:100%; height:158px; } .crec-ad:last-child { width: 50%; padding-right: 4px; } } @media (max-width: 590px) { .crec-ad { width: 100%; } .crec-image img{ height:auto; } .crec-ad:last-child { width: 100%; padding-right: 4px; } .crec-header h1 { padding-left:20px; } .crec-container { padding-left:20px; padding-right:20px; } }
/*]]>*/

/**/

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews



bitcoin
Bitcoin (BTC) $ 64,391.00
ethereum
Ethereum (ETH) $ 3,891.48
binance-coin
Binance Coin (BNB) $ 489.35
tether
Tether (USDT) $ 1.00
cardano
Cardano (ADA) $ 2.16
xrp
XRP (XRP) $ 1.12
solana
Solana (SOL) $ 160.84
polkadot
Polkadot (DOT) $ 41.61
dogecoin
Dogecoin (DOGE) $ 0.246643
usd-coin
USD Coin (USDC) $ 1.00
USD
EUR
GBP
bitcoinBitcoin (BTC)
$ 64,391.00
ethereumEthereum (ETH)
$ 3,891.48
tetherTether (USDT)
$ 1.00
bitcoin-cashBitcoin Cash (BCH)
$ 617.70
litecoinLitecoin (LTC)
$ 191.23
bitcoinBitcoin (BTC)
55.535,63
ethereumEthereum (ETH)
3.356,30
tetherTether (USDT)
0,862475
bitcoin-cashBitcoin Cash (BCH)
532,75
litecoinLitecoin (LTC)
164,93
bitcoinBitcoin (BTC)
46,840.27
ethereumEthereum (ETH)
2,830.80
tetherTether (USDT)
0.727435
bitcoin-cashBitcoin Cash (BCH)
449.34
litecoinLitecoin (LTC)
139.11

Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

Behind The Scenes: How this Crypto Community Responded to + $50m Hack
October 18, 2021
Crypto Scams
Crypto Scams Still Persistent In 2021, SEC Warns About Red Flags To Watch
September 9, 2021
Poly Network
Here’s How Hackers Stole Over $600 million in the Poly Network Attack
August 12, 2021
The World’s Most Infamous Crypto Hacks and Scams
July 31, 2021
Cryptocurrency Exchanges
Cryptocurrency Exchanges and the Plague of Scams and Bans
June 29, 2021

Blockchain/Cryptocurrency Questions and Answers

ICo Presale
The Science Behind ICO Presales…
October 14, 2021
Beginner’s Guide to Investing in Cryptocurrency
August 9, 2021
Short-Sell Cryptocurrency
How to Short-Sell Cryptocurrency: A Brief Overview
July 17, 2021
Klaytn
What Is Klaytn (KLAY) And How Does It Work?
July 16, 2021
Cryptocurrencies
Our Crypto Roundup Interview Asks- Do Cryptocurrencies Have a Future?
July 15, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin64,402 0.90 % 3.35 % 14.32 %
Ethereum3,913.0 1.25 % 2.63 % 11.86 %
Binance Coin489.82 0.94 % 0.22 % 11.23 %
Tether0.9986 0.03 % 0.08 % 0.23 %
Cardano2.160 0.70 % 1.27 % 1.93 %
XRP1.120 0.95 % 2.38 % 1.32 %
Solana160.92 1.34 % 2.02 % 5.87 %
Polkadot30.87 2.19 % 17.29 % 10.73 %
Dogecoin0.2468 1.26 % 0.31 % 9.03 %
USD Coin1.000 0.14 % 0.20 % 0.17 %

bitcoin
Bitcoin (BTC) $ 64,391.00
ethereum
Ethereum (ETH) $ 3,891.48
binance-coin
Binance Coin (BNB) $ 489.35
tether
Tether (USDT) $ 1.00
cardano
Cardano (ADA) $ 2.16
xrp
XRP (XRP) $ 1.12
solana
Solana (SOL) $ 160.84
polkadot
Polkadot (DOT) $ 41.61
dogecoin
Dogecoin (DOGE) $ 0.246643
usd-coin
USD Coin (USDC) $ 1.00