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Home Crypto News Market In 24 Hours Grayscale Buys $1Billion In Crypto

In 24 Hours Grayscale Buys $1Billion In Crypto

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Grayscale tweeted Wednesday that total assets under its management were $45.8 billion compared to $44.9 billion the day before.

As of April 21, the Grayscale owns $45.8 billion worth of Bitcoin and other cryptocurrencies.

Grayscale Investments has acquired another incredible amount of crypto in just 24 hours of $0.9 billion worth of digital assets.


Grayscale has bought more altcoins to add to its already huge holdings. As of April 22, the company has acquired 519 ZEN, 967 LPT, and 29,990 LINK.

 

In the last seven days, Grayscale has acquired 71,035 XLM and 2,965 ZEN, and in altcoins based on five recently launched trusts: LINK: +42,507, BAT: + 259,421, MANA: +278,205, LPT: +20146, FIL: +3,524

While premiums for Bitcoin, Ethereum, and Ethereum Classic Trust remain negative, premiums of LTC and BCH have seen have seen a huge jump.

Litecoin Trust (LTCN) shares are trading at a whopping 859.42% premium, while Bitcoin Cash Trust (BCHG) shares are changing hands at a +239.69% premium.

Extremely high premiums in grayscale show overbought products, indicating that investors are beginning to lock in their profits.

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Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Ammara authored more than 1,000 stories for TheCryptoBasic, CryptoComes and other fintech media outlets. She is particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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