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Grayscale CEO: GBTC approval could bring 'several billion dollars' to investors.
#grayscale #CEO #gbtc
#grayscale #CEO #gbtc
With a sense of excitement, Alex logged into their digital wallet and discovered that their 100 Bitcoins had multiplied exponentially over the years. The current value of a single Bitcoin was an astonishing $50,000. Doing the math, Alex realized that their initial investment of $1,000 was now worth a mind-boggling $5,000,000! many of us knows the story of Alex me made big profit just as he did,and now am living fine just because Bitcoin i became a king đ.. #gbtc #sbf #gbtc
#Meme #etf #gbtc #fomo #sbf October 20, 2023, hackers attacked Coins.ph, one of the largest crypto exchanges in the Philippines. The hackers moved 12 million XRP tokens to various exchanges, including OKX, WhiteBIT, and OrbitBridge.
The stolen XRP tokens were worth around $6.4 million. Following the hack, WhiteBIT moved to block the 445,000 XRP tokens. The hack followed several network exploits in the past few months.
Meanwhile, XRPâs popularity has risen in the past few months following its ongoing lawsuit. After a summary judgment on July 13, many crypto firms increased their XRP holdings. This could have been why Coins.ph was holding a large stash of XRP tokens.
After its victory on July 13, XRP had risen to $0.81. Yet, by October 23, XRP had fallen by 33.3% to $0.54. As XRPâs lawsuit rages on, analysts say a positive outcome will bring a rally for the token. If XRP wins its lawsuit against the SEC, it could rise by 53.7% to $0.83.
The stolen XRP tokens were worth around $6.4 million. Following the hack, WhiteBIT moved to block the 445,000 XRP tokens. The hack followed several network exploits in the past few months.
Meanwhile, XRPâs popularity has risen in the past few months following its ongoing lawsuit. After a summary judgment on July 13, many crypto firms increased their XRP holdings. This could have been why Coins.ph was holding a large stash of XRP tokens.
After its victory on July 13, XRP had risen to $0.81. Yet, by October 23, XRP had fallen by 33.3% to $0.54. As XRPâs lawsuit rages on, analysts say a positive outcome will bring a rally for the token. If XRP wins its lawsuit against the SEC, it could rise by 53.7% to $0.83.
Binance Latam Regional VP: âWe Intend to Become Regulated in Argentinaâ
Min Lin, Latam regional vice president at Binance, referred to the intention of the institution to become regulated in Argentina after a specific law to license crypto brokers is approved. Lin stated the exchange is talking with regulators to introduce innovation in regulatory frameworks and prioritize user protection. #etf #gbtc #fomo #sbf
Min Lin, Latam regional vice president at Binance, referred to the intention of the institution to become regulated in Argentina after a specific law to license crypto brokers is approved. Lin stated the exchange is talking with regulators to introduce innovation in regulatory frameworks and prioritize user protection. #etf #gbtc #fomo #sbf
Bitcoin (BTC) Price Prediction 2027
As you're aware, the cryptocurrency market is heavily influenced by volatility, making it challenging to predict and stay updated on current prices. In 2027, the maximum price is projected to reach $1,26,320.88, with an average trading value of $1,21,768.78. The minimum price is expected to be approximately $1,16,078.65. The introduction of new initiatives and partnerships with other crypto projects could potentially attract more investors to Bitcoin, consequently increasing its value in 2027.
$BTC #Meme #etf #gbtc #fomo #sbf
As you're aware, the cryptocurrency market is heavily influenced by volatility, making it challenging to predict and stay updated on current prices. In 2027, the maximum price is projected to reach $1,26,320.88, with an average trading value of $1,21,768.78. The minimum price is expected to be approximately $1,16,078.65. The introduction of new initiatives and partnerships with other crypto projects could potentially attract more investors to Bitcoin, consequently increasing its value in 2027.
$BTC #Meme #etf #gbtc #fomo #sbf
According to VanEck, its 2030 Solana valuation scenarios anticipate a SOL price ranging from a bearish $9.81 to a bullish $3,211.28, based on varying market shares and revenue estimates across key sectors.
In its 2030 baseline, VanEck's standardized valuation framework projects Solana to achieve a token valuation of $335. The estimate, it stated, is based on projecting a terminal valuation multiple on Solana's SOL tokens based on an anticipated real rate of return.
VanEck stated that depending upon the scenario, it is assumed that a certain portion of businesses and their income will be produced from blockchain activities or will use blockchain in some capacity to locate clients, create new goods, decrease expenses, or simplify back-end business tasks.
Given this, VanEck envisions Solana becoming the first blockchain to support applications with over 100 million users.
Despite its potential, VanEck says Solana has a lower chance of hosting the majority of the world's crypto transactions by 2030 than Ethereum.
While Solana's network and execution engine offers higher throughput and unlock greater possibilities, the majority of crypto users and developers have yet to adopt it.
Solana currently has a significantly lower share of crypto total value (TVL) of $408 million out of $46 billion, as well as a similarly low percentage of daily active users (184,000 out of 5.5 million).
As a result, the base scenario forecasts Solana adoption at around 30%, a significant increase over today's data but significantly lower than Ethereum's base case of 70%.
VanEck's price prediction of $11,800 for Ethereum was based on the ETH network obtaining a 70% market share of value transmitted over open-source blockchains. If Solana can avoid Ethereum's event horizon and reach Ethereum-like dominance, the bull case forecasts $51.8 billion in revenue and a price target of $3,211 in 2030.
SOLÂ was trading at $31.97 at the time of writing; thus, a price increase to $3,211 would represent a 10,600% increase for Solana in the coming years.
#sol #Meme #etf #gbtc #fomo #sbf
In its 2030 baseline, VanEck's standardized valuation framework projects Solana to achieve a token valuation of $335. The estimate, it stated, is based on projecting a terminal valuation multiple on Solana's SOL tokens based on an anticipated real rate of return.
VanEck stated that depending upon the scenario, it is assumed that a certain portion of businesses and their income will be produced from blockchain activities or will use blockchain in some capacity to locate clients, create new goods, decrease expenses, or simplify back-end business tasks.
Given this, VanEck envisions Solana becoming the first blockchain to support applications with over 100 million users.
Despite its potential, VanEck says Solana has a lower chance of hosting the majority of the world's crypto transactions by 2030 than Ethereum.
While Solana's network and execution engine offers higher throughput and unlock greater possibilities, the majority of crypto users and developers have yet to adopt it.
Solana currently has a significantly lower share of crypto total value (TVL) of $408 million out of $46 billion, as well as a similarly low percentage of daily active users (184,000 out of 5.5 million).
As a result, the base scenario forecasts Solana adoption at around 30%, a significant increase over today's data but significantly lower than Ethereum's base case of 70%.
VanEck's price prediction of $11,800 for Ethereum was based on the ETH network obtaining a 70% market share of value transmitted over open-source blockchains. If Solana can avoid Ethereum's event horizon and reach Ethereum-like dominance, the bull case forecasts $51.8 billion in revenue and a price target of $3,211 in 2030.
SOLÂ was trading at $31.97 at the time of writing; thus, a price increase to $3,211 would represent a 10,600% increase for Solana in the coming years.
#sol #Meme #etf #gbtc #fomo #sbf
AHOY! $MEME (@MEMECOIN) IS GOING TO @BINANCE! đ
This is not a drill! This is not fake news! This is happening!
$MEME is the 39th (not 69th) project on Binance Launchpool! You only have 7 days! Come join the farming with your fellow Binancians!
#Meme #etf #gbtc #BinanceSquare #DeFiChallenge $BNB
This is not a drill! This is not fake news! This is happening!
$MEME is the 39th (not 69th) project on Binance Launchpool! You only have 7 days! Come join the farming with your fellow Binancians!
#Meme #etf #gbtc #BinanceSquare #DeFiChallenge $BNB
đđđ #gbtc ETF Sees Another $515M in Outflows as #Bitcoinprice Remains Below $40k
On January 23, GBTC reported additional outflows totaling $515 million, bringing the total outflows to $3.4 billion since its conversion to a spot ETF earlier this month. In contrast, nine recently approved spot Bitcoin ETFs recorded total inflows of $249 million.
Despite the US SEC's approval of spot ETFs, Bitcoin erased all its gains and traded below $40,000, witnessing a market cap reduction of nearly $200 billion this week. At the time of writing, Bitcoin is trading at $39,700. The notable surge in GBTC outflows is attributed to the actions of the now-defunct #FTX crypto exchange, which reportedly sold around two-thirds of its 22.3 million GBTC shares over a three-day trading period. FTX still holds about 8 million shares, valued at approximately $281 million, awaiting liquidation.
Bloomberg ETF analyst Eric Balchunas observed that the latest data suggests a potential slowdown in GBTC outflows. Grayscale's website indicates 600.5 million outstanding shares, representing a trust holding of 536,694.9 Bitcoin. Since January 10th, a total of 82,525 Bitcoin has exited the GBTC platform, as per CC15Capital data.
An analyst from Bitfinex noted that the #BTCđ„đ„ price, staying below the $43,000 level, has wiped out over half of the profits accumulated by short-term holders. Considering these dynamics, the analyst suggested that a significant price correction below current levels across the market would not be surprising.
Source - Cryptonews.com
#CryptoNews $BTC
On January 23, GBTC reported additional outflows totaling $515 million, bringing the total outflows to $3.4 billion since its conversion to a spot ETF earlier this month. In contrast, nine recently approved spot Bitcoin ETFs recorded total inflows of $249 million.
Despite the US SEC's approval of spot ETFs, Bitcoin erased all its gains and traded below $40,000, witnessing a market cap reduction of nearly $200 billion this week. At the time of writing, Bitcoin is trading at $39,700. The notable surge in GBTC outflows is attributed to the actions of the now-defunct #FTX crypto exchange, which reportedly sold around two-thirds of its 22.3 million GBTC shares over a three-day trading period. FTX still holds about 8 million shares, valued at approximately $281 million, awaiting liquidation.
Bloomberg ETF analyst Eric Balchunas observed that the latest data suggests a potential slowdown in GBTC outflows. Grayscale's website indicates 600.5 million outstanding shares, representing a trust holding of 536,694.9 Bitcoin. Since January 10th, a total of 82,525 Bitcoin has exited the GBTC platform, as per CC15Capital data.
An analyst from Bitfinex noted that the #BTCđ„đ„ price, staying below the $43,000 level, has wiped out over half of the profits accumulated by short-term holders. Considering these dynamics, the analyst suggested that a significant price correction below current levels across the market would not be surprising.
Source - Cryptonews.com
#CryptoNews $BTC
đđđ #BitcoinETFđ°đ°đ° Day 8 Update: Market Rebound Signals Bottom As Grayscale Selling Slows Down
Following the SEC's approval of Bitcoin ETFs on January 11 and subsequent trading initiation, the ETF market has consistently shown robust volumes. Amid a market recovery from a 20% drop, signs of a slowdown in Grayscale's selling activities offer hope for Bitcoin bulls. Market analysts note a positive shift in Grayscale's strategy, potentially stabilizing Bitcoin prices and restoring investor confidence.
Major asset management players, such as BlackRock and Fidelity, demonstrate resilience and commitment to Bitcoin. #BlackRock holds 44,000 BTC in AUM, showcasing increasing exposure, while Fidelity, a key Bitcoin ETF issuer, maintains confidence with 40,000 BTC AUM.
Despite a sell-off driven by FTX in its initial 8 days, expectations for reduced selling pressure from FTX and Grayscale on day 9 could contribute to a more stable market environment. Bitcoin ETFs emerge as substantial holders, absorbing 101,600 BTC from Grayscale and adding 21,100 BTC in 8 days, indicating growing institutional interest.
Bitcoin ETF managers alone acquire 15 times the daily Bitcoin supply, surpassing 13,444 BTC against the 900 BTC daily creation rate. This underscores strong demand from institutional investors and the potential impact of ETFs on the Bitcoin market.
Bloomberg ETF expert Erich Balchunas notes a decrease in GBTC volume, signaling potential exhaustion in selling. However, a recent $515 million withdrawal from #gbtc resulted in a total outflow of $3.96 billion since its ETF conversion. On a positive note, there was a net inflow of $409 million on the ninth day, indicating renewed investor interest.
Source - newsbtc.com
#CryptoNews #BinanceSquareBTC
Following the SEC's approval of Bitcoin ETFs on January 11 and subsequent trading initiation, the ETF market has consistently shown robust volumes. Amid a market recovery from a 20% drop, signs of a slowdown in Grayscale's selling activities offer hope for Bitcoin bulls. Market analysts note a positive shift in Grayscale's strategy, potentially stabilizing Bitcoin prices and restoring investor confidence.
Major asset management players, such as BlackRock and Fidelity, demonstrate resilience and commitment to Bitcoin. #BlackRock holds 44,000 BTC in AUM, showcasing increasing exposure, while Fidelity, a key Bitcoin ETF issuer, maintains confidence with 40,000 BTC AUM.
Despite a sell-off driven by FTX in its initial 8 days, expectations for reduced selling pressure from FTX and Grayscale on day 9 could contribute to a more stable market environment. Bitcoin ETFs emerge as substantial holders, absorbing 101,600 BTC from Grayscale and adding 21,100 BTC in 8 days, indicating growing institutional interest.
Bitcoin ETF managers alone acquire 15 times the daily Bitcoin supply, surpassing 13,444 BTC against the 900 BTC daily creation rate. This underscores strong demand from institutional investors and the potential impact of ETFs on the Bitcoin market.
Bloomberg ETF expert Erich Balchunas notes a decrease in GBTC volume, signaling potential exhaustion in selling. However, a recent $515 million withdrawal from #gbtc resulted in a total outflow of $3.96 billion since its ETF conversion. On a positive note, there was a net inflow of $409 million on the ninth day, indicating renewed investor interest.
Source - newsbtc.com
#CryptoNews #BinanceSquareBTC
đđ Grayscale GBTC Sees Net Outflow, ARKB and EZBC Experience Net Inflows đđ
đ Date: Feb 22, 2024
đ Investment Flow Dynamics:
- On February 21st, Grayscale's GBTC fund reported a net outflow of $199.3 million.
- In contrast, ARK 21Shares' ARKB fund experienced a net inflow of $10.7 million.
- Franklin's EZBC fund also saw a net inflow of $3 million.
đ Shift in Investment Patterns:
- The observed movement indicates a shift in investor preferences, with some reallocating funds from Grayscale's GBTC to ARKB and EZBC.
đ Potential Factors Behind the Shift:
- Changing market conditions, investor sentiment, and the performance of the respective funds could contribute to this shift.
đĄ Investor Considerations:
- Investors are advised to stay informed about market dynamics and adjust their strategies based on evolving trends.
- Diversification and regular portfolio assessments are key practices for managing investment risk.
đ° Monitoring Market Trends:
- Ongoing monitoring of fund flows and market trends provides valuable insights for investors navigating the dynamic cryptocurrency landscape.
đ Adapting to Market Changes:
- As the crypto market evolves, being adaptable and responsive to changing conditions is crucial for optimizing investment portfolios.
#TrendingTopic #gbtc #arkb #EZBC #cryptonews đđ
đ Date: Feb 22, 2024
đ Investment Flow Dynamics:
- On February 21st, Grayscale's GBTC fund reported a net outflow of $199.3 million.
- In contrast, ARK 21Shares' ARKB fund experienced a net inflow of $10.7 million.
- Franklin's EZBC fund also saw a net inflow of $3 million.
đ Shift in Investment Patterns:
- The observed movement indicates a shift in investor preferences, with some reallocating funds from Grayscale's GBTC to ARKB and EZBC.
đ Potential Factors Behind the Shift:
- Changing market conditions, investor sentiment, and the performance of the respective funds could contribute to this shift.
đĄ Investor Considerations:
- Investors are advised to stay informed about market dynamics and adjust their strategies based on evolving trends.
- Diversification and regular portfolio assessments are key practices for managing investment risk.
đ° Monitoring Market Trends:
- Ongoing monitoring of fund flows and market trends provides valuable insights for investors navigating the dynamic cryptocurrency landscape.
đ Adapting to Market Changes:
- As the crypto market evolves, being adaptable and responsive to changing conditions is crucial for optimizing investment portfolios.
#TrendingTopic #gbtc #arkb #EZBC #cryptonews đđ
