1. PixelPlaygroundHome
  2. Metaverse Insights

When did Grayscale first buy ZEC (which coin is grayscale ready to buy)

• Metaverse Insights • 121 views

When did Grayscale first buy ZEC? Editor\’s note: This article is from Colorful C

When did Grayscale first buy ZEC (which coin is grayscale ready to buy)

When did Grayscale first buy ZEC? Editor’s note: This article is from Colorful Cloud Blockchain (ID: cybtc_com), written by irishash, and authorized by Odaily Star Daily to be reprinted.

In the 2017 cryptocurrency bull market, Grayscale Investment Company first bought Bitcoin Cash, and then began purchasing ZEC and ZEN tokens. This rise was based on the ICO frenzy in 2018. Since then, Grayscale Investment Company has made a large amount of accumulation, and this number is still increasing. However, according to Coinmarketcap.com, as of the end of 2019, Grayscale’s ZEC reserves were about 90,000 coins. So why did they make so many purchases first? Let’s first take a look at the recent situation:

At the end of the first quarter of 2020, Grayscale Investment Company started buying Zcash and ZEN. These products have been in a loss state since 2013. Until 2015, the revenue of some products exceeded their total profits (almost 4 million US dollars). However, since the beginning of 2016, from the end of 2017 to the first three quarters of 2018, due to the downturn in the market and various reasons, investors have been hoarding ZEC. At the end of the first quarter of 2020, as the market continued to decline, the demand for ZEC also decreased. After January 18, 2019, ZEC prices once fell to about $0.004, and in the first quarter of 2019, when the transaction fee reached $0.015, ZEC prices reached $0.036. In the mid-to-late 2019, ZEC prices soared again and reached a high of $0.067 at the beginning of 2019. In late February 2018, ZEC’s price fell again and broke through $0.043 in early December. At that time, some analysts believed that the market conditions would not be too good afterwards. Therefore, at the end of the third quarter of this year, there was a lot of selling pressure in the market, but it then rebounded, and this selling was also driven by investors. In addition, Grayscale also found some problems: 1. How to choose the right investment tools; 2. Will Grayscale add more products in the future. Although there is currently no company that can introduce the trust product with specific products or service types. However, if anyone is willing, they can take a look at the data below, including which assets, and any one that will be included in the trust shares.

Other digital currencies mentioned on the Grayscale official website are ZEC, ZED, ZEC-A, and ZEC-J. They all have their own rules, but in fact, only two situations are worth noting: 1. ZEC is not a security, but a commodity, and its issuer cannot sell it to customers. In the second case, ZEC belongs to “alternative funds” rather than traditional assets, so everyone should hold a portion of ZEC.

Which coin is grayscale ready to buy?

According to reports, according to Grayscale Investment Company’s official social media disclosure: Grayscale Investment is actively buying which digital currencies. Currently, four currencies have received Grayscale’s purchase applications: XRP, EOS, and XLM; the BCH Trust Fund has submitted a draft proposal; the Tezos Trust Fund is awaiting approval from the US Securities and Exchange Commission; ETCTrust is the second investment tool to be included in the list. (Yahoo Finance)

This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/24887/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 08/18/2023 18:51
Next 08/18/2023 19:14

Recommended articles