Thursday, July 9, 2020
No menu items!
  • News
  • Cryptocurrency
  • Contact Us
More

    Grayscale Ethereum Trust Loses 50% of Its Value in a Week

    Must Read

    David Schwartz Answers Questions on How Fair and Reasonable It Is for XRP to Stay below $0.2

    The Chief Technical Officer (CTO) at Ripple, was recently tasked by a crypto community member to explain how fair...

    Charles Hoskinson: Those Who Took a Very Bearish Contrarian Position on Cardano (ADA) Are Wrong

    Charles Hoskinson, the CEO of IOHK has stated that the 7th largest cryptocurrency by market capitalization, Cardano (ADA), has...

    Brad Garlinghouse Identifies the Lapses Ripple and XRP Can Fill In Global Economy in Terms Remittances

    The CEO of Ripple, Brad Garlinghouse, has recently pointed out the lapses in the traditional finance that he believes...
    Avatar
    Solomon Odunayo
    Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.




    Despite the slight price appreciation experienced by ETH lately, Grayscale Ethereum Trust still recorded over 50% loss this week alone.

    The update about the crash came after the Grayscale announced a successful quarter. The investment company recently reported that assets under management (AUM) attained all-time-highs.

    Also, reports about the accumulation of Ethereum (ETH) and Bitcoin (BTC) by Grayscale indicate that institutional investors now have a growing interest in cryptocurrency.

    Grayscale Ethereum Trust Loses 50% of Its Value in a Week
    Courtesy of Grayscale Investments

    Over the past month, the Grayscale Ethereum Trust recorded a notable gain. At the end of May, the price per share was a bit above $110. In relatively a week later, it rose by over 100%, having the price per share at over $220.

    Back then, the price of the Ethereum Trust share grew up to 700 percent. As of now, its value is now back to the point it was before the June uprising, due to the significant plummet it recently experienced.

    As the sudden crash brings new investors to take advantage of the new price, some in-house investors will be left stumbled due to the huge decline.

    Going by the account of Nic Carter, the founder of Coin Metrics, Grayscale Ethereum Trust lost value because institutional investors such as Hedge Funds are liquidating positions.

    He added that the liquidation can only play out after a 1-year delay, which also stops sellers from offloading their holdings as fast as they wish.

    Grayscale’s Investment in Ethereum (ETH)

    Grayscale’s interest in Ethereum (ETH) has grown since the beginning of 2020, resulting in an increased purchase of the digital asset by the investment firm.

    In early June, the director of investor relations at Grayscale, Ray Sharif-Askary reported that the crypto fund manager has substantially increased its investment in Ethereum (ETH), stating that its investment in the digital asset has grown up to $110 million, which represents 22 percent of Grayscale Investments’ purchases year-to-date.




    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Latest News

    David Schwartz Answers Questions on How Fair and Reasonable It Is for XRP to Stay below $0.2

    The Chief Technical Officer (CTO) at Ripple, was recently tasked by a crypto community member to explain how fair...

    Charles Hoskinson: Those Who Took a Very Bearish Contrarian Position on Cardano (ADA) Are Wrong

    Charles Hoskinson, the CEO of IOHK has stated that the 7th largest cryptocurrency by market capitalization, Cardano (ADA), has been proving those with bearish...

    Brad Garlinghouse Identifies the Lapses Ripple and XRP Can Fill In Global Economy in Terms Remittances

    The CEO of Ripple, Brad Garlinghouse, has recently pointed out the lapses in the traditional finance that he believes are affecting the huge part...

    Leading Global Steel Company Adopts VeChain-Based My Care to Reduce Risk of COVID-19 Infection

    A leading global steel company, ArcelorMittal, has announced the adoption of a VeChain-based technology, My Care, to reduce the risk of the new coronavirus...

    Wietse Wind Answers Question about Linking Multiple XRP Public Addresses to a PayID

    Wietse Wind, a lead developer at XRP Ledger, has taken his time to answer a necessary question directed to him by a supposed XRP...

    More Articles Like This