Editor's Note: This article comes fromGolden Finance, reprinted by Odaily with authorization.
Golden Finance
Golden Finance
, reprinted by Odaily with authorization.
On January 12, Grayscale resumed the purchase of encrypted trust funds except ETH and XRP, and the famous currencies rose again. ZEN and ZEC, which were frequently mentioned recently, were also included in the purchase. Recently, ZEN and ZEC have also strongly led the upward movement of the privacy sector.
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Grayscale Opens to Accepting New Investments After 20-Day Pause
Grayscale announced on Dec. 22 that its BTC, BCH, ETH, ETC, LTC trust funds, and Grayscale Digital Large Cap Fund are currently not accepting new investments. It is reported that Grayscale regularly blocks its cryptocurrency trust fund for so-called "private placements". GBTC has repeatedly performed this operation in the fourth quarter of 2019.
According to the verification of Jinse Finance, Grayscale has disclosed the new purchase data. Among them, the minimum limit of BTC is 50,000 US dollars, and the minimum limit of BCH, ETC, LTC, ZEN, ZEC, and XLM is 25,000 US dollars, while ETH and XRP show that it is temporarily impossible to subscribe.
From Grayscale’s announcement on December 22 last year to suspend accepting new investments to today’s resumption of holdings increase, the changes in the positions of various currencies in the 20 days are as follows: Grayscale’s BTC trust holdings decreased by 600 (-0.10%), and the total holdings were 606,674 BTC ;Grayscale ETH trust positions decreased by 6842 pieces (-0.23%), with a total position of 2934911ETH; Grayscale BCH trust positions decreased by 295 pieces (-0.12%), with a total position of 239187BCH; Grayscale ETC trust positions decreased 17,154 pieces (-0.14%), with a total position of 12,267,677 ETC; Grayscale LTC Trust’s position decreased by 1,423 pieces (-0.12%), with a total position of 1,153,480 LTC. Note: The reduction of positions is due to the need to charge management fees. When there is no increase in holdings on working days, the position will decrease slightly.
In fact, the tokens ZEC and ZEN in Grayscale’s investment portfolio have been mentioned frequently in recent days, and they have achieved a strong rise after the news of the opening of subscription today.
According to news on January 10, Barry Silbert, the founder of Grayscale and DCG, mentioned two tokens in the Grayscale investment portfolio: ZEC and ZEN. He tweeted that it looks like 2021 will be the year of privacy protection, decentralization, and resistance to censorship.
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Re-examine the "only in and out" mythical animal grayscale and what other bright-branded currencies have developed?
Since the current round of market rise, Grayscale Trust has been called the promoter of this Bitcoin bull market, and it is also considered to be a mythical beast that "only enters but does not exit". The reason is that in the investment terms of Grayscale Trust, there is a mechanism that does not support redemption and a form of dual capital contribution, which separates the issuance market from the circulation market.
It has been less than a year since the "312 plunge" of Bitcoin in 2020, and the price has achieved a nearly 10-fold increase (although it has fallen back recently). Standing at the current juncture, it is necessary to re-examine Huidu, the famous currency of Pixiu. Just today, cryptocurrency ratings agency WeissCryptoRatings tweeted that in this broken world, few things are 100% certain. But following death and taxes in the ranking of inevitability is the long-term growth of cryptocurrencies, an undeniable megatrend of the 21st century.
So in this general trend, which projects have been precipitated that institutions are more optimistic about? What are the new developments in the development of these projects that deserve our understanding one by one.
According to public information, in addition to the above-mentioned privacy coins, the trust funds that Grayscale participated in also included BTC, BCH, ETH, ETC, LTC, XRP, and XLM. This is in line with the development of blockchain technology.
Blockchain as a payment currency represented by Bitcoin and Litecoin can be regarded as a representative project of 1.0, and there has always been a saying of "bit gold, lite silver". On August 1, 2017, a new blockchain BCH was forked from Bitcoin. In addition to block expansion, BCH is currently exploring smart contract implementation solutions based on Bitcoin Cash and simple ledger protocols. It can be said that BCH The emergence conformed to the historical trend and broke out at the time of expansion. After that, many forks were forked for the sake of forking, so I won’t focus on it.ETHPerhaps in everyone's impression, Ripple is a latecomer, but in fact the origin of the Ripple project is much earlier than Bitcoin. In 2004, Ryan Fugger launched the first implementation of Ripple. Its goal is to build a decentralized virtual currency system that allows anyone to create their own currency. However, Ripple is currently undergoing regulatory review by the SEC, and the outcome is undecided.
Stellar is a new payment system similar to Ripple recently launched by Mt-Gox and Ripple's original founder McCaleb. The created network has the same functions as the Ripple payment network, through which any currency can be transferred, including US dollars, euros, renminbi, yen or bitcoins, which is simple and fast. It relies on the bitcoin blockchain technology and can be transferred in 2 -Connect 180 currencies in the world within 5 seconds, connect banks, payment systems and the general public, and reduce transaction costs and time delays caused by cross-border payments.
