Grayscale Now Has 3 Million Ethereum under Management

Grayscale, the world’s largest crypto asset management firm, has accelerated its accumulation of the world’s second-largest cryptocurrency. The firm now has more than 3 million Ethereum with a total value of $4.9 billion. Grayscale added 47,000 ETH in the last 24 hours.

According to the latest data published by Grayscale, the total value of the company’s digital assets under management jumped above $29 billion yesterday after Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term and Ethereum posted record gains. Bybt.com data shows that the value of Grayscale’s crypto assets under management is near $30 billion.

Ethereum is its second-largest holding of the firm after Bitcoin. Grayscale temporarily stopped new investments into its Ethereum Trust last month but recently reopened it for accredited investors. The company purchased 70,791 ETH in the last 7 days.

Bitcoin remained the largest holding of Grayscale with nearly 650,000 BTC under management. The total value of the company’s Bitcoin holding jumped above $24 billion on Thursday. Grayscale accumulated 42,223 BTC in the last 30 days.

Grayscale’s Ethereum Report

The asset manager released its Ethereum report yesterday to help clients understand the structure and purpose of the ETH network. The firm also outlined the importance of Ethereum 2.0 to improve the overall network activity of Ethereum.

“Between the enormous amount of activity on Ethereum, the economic improvements to Ether, and the promise of increased scalability with ETH 2.0, there is a lot for the Ethereum community to be excited about. We can observe from the data that the price of Ether tends to move with underlying activity on the network. As noted throughout this report, multiple metrics are reaching new highs, including active addresses, Hash Rate Hash Rate A hash rate is the measure of a cryptocurrency miner’s performance and a key security metric. In the context of mining, the more hashing or computing power in a given network, the greater its security and its overall resistance to attackMining hashrate is a key security metric. The more hashing (computing) power in the network, the greater its security and its overall resistance to attack. Hash rate is also a measurement of the output of a device that is used to add transactions to a blockchain A hash rate is the measure of a cryptocurrency miner’s performance and a key security metric. In the context of mining, the more hashing or computing power in a given network, the greater its security and its overall resistance to attackMining hashrate is a key security metric. The more hashing (computing) power in the network, the greater its security and its overall resistance to attack. Hash rate is also a measurement of the output of a device that is used to add transactions to a blockchain Read this Term and network fees, a positive sign for investors,” Grayscale mentioned in the report.

Apart from Bitcoin and Ethereum, Grayscale has more than 1.3 million Litecoin (LTC) with a total worth of over $200 million. The firm purchased 166,035 LTC in the last 30 days. Bitcoin Cash remained the fourth-largest holding of the firm with 268,000 BCH valued at nearly $120 million.