The world’s largest digital asset manager, Grayscale has filled the gap opened by XRP in the Digital Large Cap Fund with Chainlink (LINK).
Chainlink is one of the 10 largest cryptocurrencies with a market capitalization of more than $13 million.
The Digital Large Cap Fund (GDLC) in the Grayscale business has $538.2 million in assets under management. The fund is opened to investors only at certain periods of the year.
Number of products increased again to 6:
Investors can invest in cryptocurrencies with the largest market capitalization through GDLC. Corporate and qualified investors involved in the fund can sell after a one-year waiting period after making a purchase.
Until this year, GDLC consisted of Bitcoin, Ethereum, Litecoin, Bitcoin Cash and XRP. On January 5, Grayscale took the decision to withdraw XRP from the fund. LINK will now fill the void caused by XRP removal.
As of April 2, the distribution of the fund is as follows::
79.8% Bitcoin
17.5% Ether
0.80% Bitcoin Cash
% 1 Litecoin
0.90% Chainlink
LINK increased 6.1% over the past 24 hours, trading at $33.11, according to CoinGecko data.
Grayscale has also established a chainlink trust recently.
Tether announced that it will launch its USDT on Polkadot and Kusama networks. Exact dates were not announced when Tether will use the Polkadot and Kusama blockchains for stable coin USDT.
Tether currently operates on blockchains such as Ethereum, EOS, Omni, and Tron.
Tether announced Tuesday that it will begin using Polkadot and Kusama blockchains to issue USDT. According to the block, the company will be using the Kusama network in the initial phase.
Many blockchain projects use Kusama to prepare before switching to Polkadot, as Kusama share almost the same code of Polkadot.
Likely to use statemin:
Tether plans to use parachain, called Statemint, which was designed by Parity Technologies for the stablecoins production.
Statemint was introduced last month by Polkadot developer Parity Technologies. It would provide functionality for deploying assets such as stablecoins in the Polkadot and Kusama networks and help end-users with lower fees. Tether CTO Paolo Ardoino explained that they would wait for Statemint to be ready.
Development work for Statemint is expected to “take several months.”.
The company could start doing some test work on the Kusama network.
Tether CTO Paolo Ardoino Said:
We also continue to look at Kusama, said Ardoino. Kusama would theoretically allow us to start experimenting with supporting Tether on parachains even before Statemint is officially live.
In total, USDT, works with with 10 different blockchains, has a total market capitalization of more than $43 billion.
Digital asset management company CoinShares has announced the launch of an Litecoin (LTC) exchange-traded product (ETP) with physical collateral. This is reported in the Company press release.
Each share of CoinShares Physical Litecoin (LTC) is provided with 0.2 LTC upon release. It will be traded on the largest Swiss stock exchange SIX Swiss Exchange under the ticker LITE and have a base commission of 1.5%.
“We are seeing interest from investors not only in BITCOIN and Ethereum, but also Litecoin. And LITE is the next step towards bringing a more comprehensive and diversified ETP offering to the MARKET, ” said Townsend Lansing, head of Development.
LITE will be the company’s third cryptocurrency ETP.
Product Name: CoinShares Physical Litecoin
ISIN: GB00BLD4ZP54
Ticker: LITE
Base Currency: USD
CoinShares is Europe’s largest digital asset investment house, managing billions of assets on behalf of a global client base. CoinShares’ investment products provide exposure to Bitcoin (BTC), Ethereum (ETH) and now, Litecoin (LTC) and are available to eligible institutional and individual investors throughout Europe.
In January 2021, CoinShares released the first such bitcoin-based product. The tool received the ticker BITC.
Next, the company launched Ethereum-ETP. It was also listed on the Swiss exchange.
PureStake, the developer of Polkadot’s smart contract platform announced that they have completed a $6 million funding round for “Moonbeam,” with participation from major exchangesBinance and US coinbase venture capital.
The strategic investment round led by Binance Labs along with major blockchain investment companies like CoinFund and ParaFi, Well-Known venture capital firms from the blockchain industry such as Coinbase Ventures, Fenbushi Capital, Hypersphere Ventures and Signum Capital.
The funding will be used to hire development personnel, build integration tools, conduct third-party security audits, and prepare for the launch of the Moonbeam mainnet, which is scheduled for mid-year.
Moonbeam is one of Polkadot’s main parachains that enable improved interoperability and scalability between different blockchains. Parachain is a shard chain that connects to Polkadot’s main chain, Relay Chain, and is an independent blockchain.
It is possible to build unique tokens and economic zones within each parachain, and to include designs and functions specific to each use case. You can also send and receive messages and transactions between parachains.
The Polkadot ecosystem provides a modular framework “Substrate” for building blockchains. It also includes the EVM (Ethereum Virtual Machine), which is highly compatible with Ethereum because Moonbeam is built on the EVM. As the easiest on-ramp for building apps on Polkadot, you can integrate existing smart contracts on Moonbeam with minimal changes, or develop smart contracts using Solidity that developers are accustomed to. Moonbeam seems to be a promising project to establish an Ethereum-compatible network on Polkadot.
Project on Moonbeam
Moonbeam is a relatively new project but in the last 6 months various new projects were built on Moonbeam and many projects integrated their functions with Moonbeam.
Below are some examples:
SushiSwap
Balancer
IDEX
Seascape
Linear Finance
Ocean Protocol
METAMASK
Chainlink
The Moonbeam development team plans to move the network in multiple stages.
1. Parachain operation on the test net (executed).
2. Operate “Moonriver” on Polkadot’s experimental network “Kusama”.
3. Official operation of Moonbeam network on Polkadot (scheduled for the second half of this year)
MicroStrategy announced that it had purchased 253 Bitcoins worth $15 million. The company’s balance sheet includes 91,579 Bitcoins as of April 5th.
MicroStrategy announced today that it is expanding its Bitcoin reserve in a document submitted to the SEC. The company put the average purchase price of the 253 Bitcoins it bought today at $59,339. BTC/USD is trading at $57,994 on Coinbase at the time of writing.
There are 91,579 BTC in reserve
The company first announced its cryptocurrency investments in August 2020, has since purchased 91,579 Bitcoins in total with an average purchase price of $24,311, spending a total of $5 billion 311 million on BTC.
The company earned 138% on its Bitcoin Investment and doubled its money. MicroStrategy shares price was $123.92 on July 31, compared to $703.56 today.
As the crypto market started the new week, the BTC dominance fell below 55%. The total value of the market is more than $1 trillion 940 million and about $900 million of it comes from the altcoin market.
Altcoins such as BitTorrent Token (BTT), Holo (HOT) have gained much reputation because of their extraordinary performance.
Five Altcoins that we think will show nice performance this week are Elrond Network (EGLD), PancakeSwap (CAKE), Pundi X (PUNDIX), Ecomi (OMI) and Swipe (SXP), respectively. along with highlights of some other main coins events.
Altcoin News To Follow This Week:
Elrond Network (EGLD)
News This Week: Elrond announced in February that the DeFi module designed by Elrond Network will be available in different stages. The first phase of the module is planned to start on April 9th.
Why To Follow: Elrond DeFi 2.0 has been designed to launch products such as Elrond swap, Elrond lending, Elrond launchpad, Elrond synthetic asset, Elrond NFT, Elrond ESDT, Elrond stablecoin. These products will be used by banks, businesses, startups and individuals. Elrond DeFi 2.0 will be fast without scaling problem. Benjamin Mincu, CEO of Elrond Network, describes this as the “era of autonomous banking”. The process, which is expected to start on April 9, will continue for months.
Read More On: https://elrond.com/blog/elrond-defi-20-autonomous-banking-economic-growth/
PancakeSwap (CAKE)
News This Week: The PancakeSwap team announced Biggest ever token burn.
Why To Follow: PancakeSwap started to reduce token supply more rapidly after last week voting. On March 29, The team burned 4,274,788 Cake tokens about $73 million worth.
The team announced Next week will be the biggest CAKE burn ever (so far).
Burning of cake token is reducing supply and as there is high demand of Cake tokens, there are chances that CAKE will make news All-Time-High after token burn.
On April 6, staking will begin on Function X developed by Pundi X Labs. The event that will last until June 15.
Function X Foundation will be allocating 10,500,000 FX tokens for the first onchain staking event, in which 6,930,000 FX (66%) allocating to PUNDIX holder and 3,570,000 FX (34%) allocating to FX holder. The whole distribution will last for 29 weeks (203 days). The staking event will be distributing 1,050,000 FX per week, or 150,000 FX per day.
Read More About PundiX staking: https://medium.com/functionx/function-x-march-hashout-part-2-43c0e61b1636
ECOMI (OMI)
News This Week: ECOMI plans to release the DeLorean collection On its VeVe app on April 8th.
Why To Follow: Digital collections can be made interactive with augmented reality, and the DeLorean project draws attention as augmented reality is used in it. The collection is expected to be available in a static version this week, and in a controllable form in the future. ECOMI COO Dan Crothers says the interactive version in development will “be a crazy thing.”
Swipe (SXP)
News This Week: Swipe Ignition will be integrated into Swipe Swap, which is compatible with both Ethereum and Binance Smart Chain, on April 9.
Why To Follow: With Swipe Swap, digital asset trading can be made on-chain. The Ignition project is designed to enable newly established projects to raise capital with the Initial Wallet Supply (IWO) and enter the Swipe ecosystem.
Swipe Ignition is coming to #SwipeSwap next week on both #BSC AND #ETH chains.
50% off spot for a $4m allocation of our next IWO ⚡️
“we are soft-launching our Webapp as early as April 5!”
Source:
Just announced – we are soft-launching our Webapp as early as April 5! Select brand ambassadors will receive first access, and will be available to all #Celsians soon after. More details to come. ?#UnbankYourself#HODL#Celsius
“Our Next BitcoinSV Virtual Meetup Will Be Held on Thursday 8 April 2021 at 7pm (CST).”
Source:
Save the date!
Our next #BitcoinSV Virtual Meetup will be held on Thursday 8 April 2021 at 7pm (CST), we will have another great line up of guest speakers, this time from the Bitcoin SV ecosystem in Asia-Pacific.
The Bank of Japan has launched the first phase of testing the national digital currency or Central Bank Digital Currency (CBDC) as stated in the Bank report.
At this stage, the bank will develop a test environment for CBDC and conduct experiments with its main functions. The first phase will last until March 2022.
According to the roadmap, After the first phase the Central Bank will offer the digital Yen to private enterprises and end users.
In March 2021, the governor of the Bank of Japan, Haruhiko Kuroda, said that the regulator had no plans to issue a CBDC soon.
In the 2020 summer, the Bank of Japan created a working group to study central bank digital currencies and to participate in joint research with regulators of other countries.
March was a good month for the Bitcoin and Ethereum miners. The BTC miners made revenue of $1.75 billion, and ETH miners recorded a profit of $1.38 billion.
Revenue from BTC mining in March increased by 28.7%, while the profit growth of ETH miners was only 0.73%. At the same time, the percentage of income from transaction fees decreased for both groups.
In February, Ethereum miners received 52.87% of the profit from commissions (Transaction Fees), in March this figure fell to 47.22%. Bitcoin miners received $167.21 million in transaction processing fees, which is 9.55% of the total profit. Compared to February, the reduction in the commissions volume was 10.7%.
On March 20, a record daily profit of BTC miners was recorded, in just a day they received a little more than $60 million.
The interest in mining remains at an extremely high level, which leads to a shortage of ASIC miners in the market. In the secondary market, the devices are sold at a price five times higher than the prices of pre-orders.
On April 2, the BTC mining difficulty was recalculated. Bitcoin mining difficulty grew by 5.82% and for the first time in history exceeded 23.14 trillion.
The total value of the cryptocurrency market has increased to $2 trillion, Bitcoin’s market dominance, which has a market capitalization of $1.1 trillion, has fallen below 56%.
In the top 100 altcoins in terms of market capitalization, Holo (HOT) gained the most. This week On Binance, HOT entered the top 3 position by volume, and has gained 810% in the last 1 month.
Top 5 Earning Altcoins
The top 5 best performing altcoins in the top 100 for the week of March 27-April 3 are as follows.
Mask Network (MASK) price doubled in one week. Mask network gained 193 percent on the monthly chart, 80 percent on the bi-weekly chart, and 146 percent on the weekly chart.
Mask All-Time High is $41.45 and the All-time low was $7.37.
MASK has a market capitalization of $1.5 billion and is positioned at number 82 in the Top 100 cryptocurrencies. The daily trading volume of the token stands at $421 million. Mask’s total supply is 100 million, while its circulating supply is 61 million.
What is Mask Network Token (MASK)?
Mask Network is a platform that works on Chrome, Firefox, Edge, and Chrome-based browsers, allowing users to send and share encrypted messages.
Mask The Portal to the New, Open Internet. Encrypt your posts & chats on social networks Allow only your friends to decrypt.
It targets internet users to move from web 2.0 to web 3 and serves on Twitter and Facebook. Users can perform decentralized file sharing and storage operations with Mask.
Mask Network, which received a strategic investment from Binance on April 1, plans to accelerate its multi-chain and ecosystem work. Binance and Mask agreed to develop a web 3.0 multi-chain ecosystem.
The network’s token MASK is used in in-network transactions and community activities such as voting.
Mask Network Features
Send encrypted posts to friends.
Decentralized file storage and sharing.
Send and receive cryptocurrencies on social networks.
The OKEx exchange launched MASK token deposits on February 24 and withdrawals on February 26. At the same time, OKEx distributed 50,000 masks to Mask Network community members.
Users can find the MASK token in the markets Section at the top corner of the OKEx exchange. MASK can be purchased via USDT.
With recent Binance investment in Mask, the token may launch on Binance, which will further increase Mask price.
