Altcoins are on the verge of making an astronomical rally. Grayscale Investments’ announced on Feb 26 that altcoins exploration in different investment products will lift the whole altcoin market. Consequently, many analysts jumped to the same conclusion.
Grayscale published a long list of altcoins, and stated that they want to offer institutional investors more choices. The non-exhaustive list of tokens being up for review, and final decision is presented below. These include DeFi blue chips as follows:
- Aave (AAVE)
- Chainlink (LINK)
- Compound (COMP)
- Maker (MKR)
- Reserve Rights Token (RSR)
- Sushiswap (SUSHI)
- Synthetix (SNX)
- Uniswap (UNI)
- Yearn Finance (YFI)
On the other hand, other significant assets are up for consideration as well:
- Cardano (ADA)
- Basic Attention Token (BAT)
- Cosmos (ATOM)
- Decentraland (MANA)
- EOS (EOS)
- Filecoin (FIL)
- Monero (XMR)
- Polkadot (DOT)
- The Graph (GRT)
Why Grayscale Investment Announcement Matters?
Grayscale Investments is the world’s largest digital currency asset manager. Also, it provides fund management services to accredited investors. So the Coinbase custody services are used to handle custody of assets under management (AUM).
They currently offer funds for Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Ether, Ethereum Classic (ETC), Litecoin (LTC), Horizen (ZEN), Ripple (XRP), Zcash (ZEC), Stellar Lumens (XLM).
It’s a vital solution for funds, family offices, investment groups, high and very high net worth individuals, to gain exposure to crypto-assets, without having to worry about the security and custodial issues. Subsequently, it might be a catalyst for the altseason too.
Why It’s The First Horsemen Of The Altseason?
Historically, the altcoin investment has been dominated by retail group and individual buyers. However, the last altseason of ’17-’18 saw the total market capitalization of all assets max out at $547 billion.
On the other hand, it already is at $603 billion, and the altcoins are yet to exhibit the manic exuberance of the last altseason. In fact, it won’t only be the retail buying into quality projects like the last time.
Grayscale’s latest announcement and the plans to add a long list of diverse crypto-assets, alongside the traditional large caps, is likely to attract institutional buyers with a higher risk/reward appetite.
These investors with deep pockets with orders of magnitude higher buying than retail and who previously didn’t have a formal way to acquire these unique assets are likely to ignite a major rally and another proper altseason.
It would be the one eclipsing the previous altseason, since the amount of money flowing into the ecosystem would be higher and likely to cause more impact because of the infrastructure and a long list of investable projects than before.
Ripple Price Prediction – How High will XRP reach in 2050?
How to 100x your wealth in 2021 – Buy Altcoins, here’s why
How will the Grayscale SEC Lawsuit affect Bitcoin?
Ripple Price Prediction – How High will XRP Reach in 2025?
Grayscale Reveals Record 1Q20 Institutional Crypto Investments
Stone Ridge Asset Management Invests $115M In Bitcoin!
JPMorgan says Institutional Investors Are Moving From Gold To Bitcoin
The Big Ripple Price Prediction for 2023 – How high can the XRP price go in 2023?
Institutional FOMO? Data Suggests Bitcoin’s Latest Rally Largely Driven By Institutional Interest
Top 5 Cryptocurrency ETFs to Invest in
Big News: Ripple Price is about to TRIPLE? This News Confirms…
Top 5 Performing Cryptocurrencies of the Week -(Week 16)
Grayscale Reports A Record $1 Billion+ In Investments in Q3!
Pompliano Predicts Bitcoin Will Become Wall Street Staple Investment
Shiba Inu to Reach 1$ soon? This New Upcoming Development Proves it Right
Compound Announces Major DeFi Product To Onboard Next Billion DeFi Users
Understanding Asian Crypto Law and Its Impact on Tokens
XRP relisted, Ripple CEO optimistic about the Lawsuit…BUY XRP in 2023?
First U.S. Pension Funds Invests in Crypto
Aave Pro – DeFi Grade Yields For The Institutions And The Corporate World
Top 5 Performing Cryptocurrencies of the Week -(Week 23)
You might also like
More from Altcoin
Ethereum Price Prediction as ETH climbs above $1,900…Buy Ether NOW?
How high could the Ethereum price rise at the top of the bear market? Let's analyze in this Ethereum price …
Top 5 Trending Tokens: A Snapshot of the Crypto Market
These tokens have shown impressive growth rates and have the potential to offer substantial returns. Let's take a look at …
XRP Price Prediction for June 2023: XRP Price at 1$ or $0.20?
XRP price in the second quarter looks positive. But what is the Ripple (XRP) forecast for next June? We analyze …