Grayscale Ethereum Trust Holding approached $ 10 billion, while Ether reached the distance of $ 3,000

The total value of the Grayscale Ethereum Trust reached over $ 9.3 billion today, with the second largest maintaining its bullish momentum throughout the week. Grayscale's private crypto investment funds have become very popular among investors due to the lack of regulated crypto investment tools for institutions. Grayscale Bitcoin Trust is one of the largest crypto funds, and as the demand for Ether increases, so does the grayscale trust in cryptocurrencies. Ether ($ ETH) is currently in beast mode, reaching an all-time high in 4 days of the last five days and is currently trading at $ 2,928 after setting a new ATH of $ 2,955 earlier today. The second largest cryptocurrency by market cap has recovered stronger than ever after last week's correction chaos, with many altcoins dropping more than 30%. Ethereum is another rally away from breaking $ 3,000 just a month after many call for death. Over the past month, the problem of rising gas charges from the Ethereum network has made it virtually impossible to use for many challenge protocols, paving the way for many centralized alternatives such as the Binance Smart Chain (BSC). However, it seems that the adoption of EIP-1559 and the increasing demand among institutions and the popularity of Defi fueled the problem of short-term gas charges. Demand for ETH among institutions increased At the start of the bull run, Bitcoin was the only digital asset on the radar of institutions that saw it as a store of value. However, as the bull run progressed, institutions began to explore digital assets other than Bitcoin, and Ethereum has become a stronger option, especially with the success of the Challenge ecosystem and the imminent launch of ETH 2.0. People like JP Morgan, who saw Bitcoin as anger a few years ago, now see great potential in Ethereum as they already offer a Bitcoin Trust. A new article published by the banking giant praised Ethereum for the depth of the market and was able to invest in it. T.

Join the Discussion

Back to top