Skip to content
Herald Sheets

Herald Sheets

Live Cryptocurrency News

Follow Herald Sheets on Twitter, Facebook, Telegram, Please Read Our Disclaimer

  • Homepage
  • Start Trading
  • Guide
  • Crypto News
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Ripple (XRP)
    • Dogecoin (DOGE)
    • Cardano (ADA)
    • Litecoin (LTC)
  • Analysis
  • Blockchain
  • Mining
  • Reviews
    • Brokers
    • Exchanges
  • Regulation
  • Press Release
  • About Us
    • Contact Us
    • Privacy Policy
    • Submit Press Release
  • Disclaimer
  • Cryptocurrency

Grayscale Investments Dumps Massive Portion of its XRP and XLM Holdings

Solomon Odunayo December 30, 2020 2 min read
Grayscale Investments Disclaims Dumping Huge Amount of XRP and XLM

The world’s largest digital asset manager, Grayscale Investments, has reportedly dumped a massive portion of its Ripple’s XRP and Stellar (XLM) holdings.

Going by the data from a cryptocurrency futures trading platform, Bybt, the amount of XRP held by Grayscale dropped by over $9.18 million on 29th December 2020. This brings its total position to 26.45 million XRP worth relatively $5.8 million at the time of publishing.


trade now

In the case of Stellar Lumens, Grayscale reportedly liquidated over 9.74 million XLM, bringing its current position to 9.19 million XLM worth $1.27 million based on its current price.

Read Also: XRP Dips as SEC Files Suit against Ripple for 7-Year $1.3 Billion XRP Sale

Grayscale’s total investments now stand at $19.26 billion, with Bitcoin (BTC) taking the largest share of the total assets under its management.

The Possible Cause of the Massive Dump

The massive drop in Grayscale’s XRP holdings can simply be attributed to the lawsuit filed by the United States Securities and Exchange Commission (SEC) against Ripple Labs for the sale of unregistered securities for seven years.

The news triggered the delisting of XRP from major exchanges such as Coinbase, OKCoin, Bittrex, Bitstamp, among others, which resulted in a major loss for XRP in terms of price.

Howbeit, Ripple, the cross-border payment firm that oversees the distribution of XRP, has vowed to respond to SEC’s attack, urging the market participants to hear its side of the story before reaching any conclusion regarding XRP’s alleged security status.

Read Also: Weiss Ratings: XRP Is In Bear Market; Downtrend May Continue

Grayscale’s decision to dump a huge portion of its XRP holdings doesn’t seem shocking, considering the regulatory scrutiny surrounding its major distributor, Ripple. But it’s currently not clear as to why the digital asset manager decided to reduce its XLM holdings at the same time.


Follow us on Twitter, Facebook, Telegram, and Download Our Android App.

Trade Now

HeraldSheets.com produces top quality content for crypto companies. We provide brand exposure for hundreds of companies. All of our clients appreciate our services. If you have any questions you may contact us easily with Herald Sheets Facebook Messenger App. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors and the views expressed in them do not reflect the views of this website. Herald Sheets is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.

Continue Reading

Previous: Coinbase Underpaid Females and Black Workers –New York Times Reports
Next: Crypto Michael Says Ethereum (ETH) Is Poised To Hit New All-Time High, Predicts When It Will Happen

Related Stories

Recent Bullish Crypto Market Yields Approximately 44,000 New Bitcoin Millionaires – Report
2 min read
  • Altcoins
  • Bitcoin (BTC)
  • Blockchain
  • Crypto Trading
  • Cryptocurrency
  • Decentralized Cryptocurrency Exchange (DEX)
  • News

Recent Bullish Crypto Market Yields Approximately 44,000 New Bitcoin Millionaires – Report

February 2, 2023
Hong Kong To Facilitate Institutional Investors With Tokenized Green Bonds
3 min read
  • Cryptocurrency
  • News
  • Regulation
  • Scam / Hack

Hong Kong To Facilitate Institutional Investors With Tokenized Green Bonds

February 2, 2023
Ripple Realizes Strong Growth with $226M XRP Sold in Fourth Quarter
2 min read
  • Crypto Trading
  • Cryptocurrency
  • Decentralized Cryptocurrency Exchange (DEX)
  • News
  • Ripple (XRP)

Ripple Realizes Strong Growth with $226M XRP Sold in Fourth Quarter

February 2, 2023

Top 10 Crypto

Name Price24H (%)
bitcoin
Bitcoin (BTC)
$24,059.00
4.22%
ethereum
Ethereum (ETH)
$1,702.68
7.81%
tether
Tether (USDT)
$1.00
-0.17%
binancecoin
BNB (BNB)
$331.74
7.56%
usd-coin
USD Coin (USDC)
$1.00
-0.09%
ripple
XRP (XRP)
$0.418730
3.91%
binance-usd
Binance USD (BUSD)
$1.00
-0.33%
cardano
Cardano (ADA)
$0.412742
9.46%
dogecoin
Dogecoin (DOGE)
$0.094541
5.81%
polkadot
Polkadot (DOT)
$6.80
11.66%

Recent Posts

  • Recent Bullish Crypto Market Yields Approximately 44,000 New Bitcoin Millionaires – Report
  • Hong Kong To Facilitate Institutional Investors With Tokenized Green Bonds
  • Ripple Realizes Strong Growth with $226M XRP Sold in Fourth Quarter
  • India 2023 Budget Retains Strict Crypto Tax Rules
  • Where Did Terra Developers Go After Network Collapsed?
  • Core Scientific Strikes $70M Loan Deal With B. Riley
  • BTC Miner Greenidge Reduces $72M Debt With NYDIG To $17M
  • South Korean Law Enforcement Investigates $8M Crypto Scam Targeting Investors
  • Floki Won’t Actually Burn $115M Worth of Tokens: Here’s Why
  • HSBC Reveals Crypto Industry Move with Job Openings
  • Binance Shuts Down Several Accounts Amid Bitzlato Investigation
  • ETH Added An Average Of Over 130,000 Addresses Daily In 2023
  • UK’s Charity Commission Probes Charity Organization Linked To FTX
  • Dogecoin Community Berates Mcdonald’s Over Reluctance To Announce DOGE Adoption
  • Philippines SEC Seeks More Power Over The Crypto Sector 

Categories

You may have missed

Recent Bullish Crypto Market Yields Approximately 44,000 New Bitcoin Millionaires – Report
2 min read
  • Altcoins
  • Bitcoin (BTC)
  • Blockchain
  • Crypto Trading
  • Cryptocurrency
  • Decentralized Cryptocurrency Exchange (DEX)
  • News

Recent Bullish Crypto Market Yields Approximately 44,000 New Bitcoin Millionaires – Report

February 2, 2023
Hong Kong To Facilitate Institutional Investors With Tokenized Green Bonds
3 min read
  • Cryptocurrency
  • News
  • Regulation
  • Scam / Hack

Hong Kong To Facilitate Institutional Investors With Tokenized Green Bonds

February 2, 2023
Ripple Realizes Strong Growth with $226M XRP Sold in Fourth Quarter
2 min read
  • Crypto Trading
  • Cryptocurrency
  • Decentralized Cryptocurrency Exchange (DEX)
  • News
  • Ripple (XRP)

Ripple Realizes Strong Growth with $226M XRP Sold in Fourth Quarter

February 2, 2023
India 2023 Budget Retains Strict Crypto Tax Rules
2 min read
  • Blockchain
  • Crypto Taxation
  • Crypto Trading
  • Cryptocurrency
  • India
  • News
  • Regulation

India 2023 Budget Retains Strict Crypto Tax Rules

February 2, 2023
Copyright © All rights reserved. | DarkNews by AF themes.
  • RelevantRelevant(REL)$0.825.35%
  • TadpoleTadpole(TAD)$7.32-1.74%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184213-2.11%
  • SakeTokenSakeToken(SAKE)$0.0127135.28%
  • WTF TokenWTF Token(WTF)$0.0113500.17%
  • BNSD FinanceBNSD Finance(BNSD)$0.005461-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%