Decentralized Finance (DeFI) Is Coming To Stellar Lumens (XLM)
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Grayscale Investments, the world’s largest crypto asset manager, has reportedly added 5,566,271 XLM to its Stellar Lumens Trust. The value of the amount of XLM added by Grayscale is around $2.5 million at current prices.

The new development was revealed in the recent data provided by the crypto analytics platform Bybt dated 31st March 2021.

Read Also: Stellar Blockchain Partners with Ukrainian Government to build the Country’s CBDC

Aside from the huge addition of XLM, Grayscale also added huge funds for a number of newly incorporated assets, including 7,290,372 MANA, 258,899 FIL, 1,396,356 BAT, and 65,670 LINK.

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Grayscale Investments Adds 5,566,271 XLM to Stellar Lumens Trust
Courtesy of Bybt

According to the report shared on 1st April 2021, the crypto asset manager currently holds a total of $46 billion worth of various cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH) that have the largest share.

The report also shows that Grayscale currently holds $28 million worth of XLM in its Stellar Trust. It can be recalled that the firm purchased relatively 6.6 million XLM just about a week ago. So, there is a possibility for the leading crypto asset manager to keep increasing its position in Stellar Lumens (XLM).

Read Also: Stellar Lumens (XLM) Joins Top 3 List of Most Popular Crypto Asset on Coinbase

Grayscale tweeted, “Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products. Total AUM: $46.0 billion.”

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Solomon Odunayo

By Solomon Odunayo

Solomon Odunayo is an accomplished blockchain and cryptocurrency expert at Herald Sheets, known for his in-depth analysis and engaging articles that cater to both beginners and experienced readers. With a degree in Computer Science from the University of Lagos, Solomon leverages his technical background and keen understanding of the crypto space to provide readers with valuable insights and up-to-date news. His passion for innovation and commitment to staying current with industry developments make him a trusted voice in the digital currency community.