Gray Scale’s Position and Trust Premium Rate of Mainstream Currencies
According to the report, the data of Coinglas shows that the current total position of gray scale is 18.799 billion US dollars, and the trust premium rate of mainstream currency is as follows: BTC, – 38.19%; ETH，-49.24%； ETC，-64.07%； LTC，-47.54%； BCH，-27.84%。
The negative premium rate of gray bitcoin trust rose to 38.19%
Analysis based on this information:
The message reports on the current total position of Gray Scale as 18.799 billion US dollars, along with the trust premium rate of mainstream currencies such as BTC, ETH, ETC, LTC, and BCH. The data is from Coinglas, a cryptocurrency platform that deals in trading and investments.
Gray Scale is a digital currency investment company that offers institutional investment in Bitcoin and other cryptocurrencies. The company’s position of nearly 19 billion US dollars indicates the growing confidence that institutional investors have in cryptocurrencies, particularly in Bitcoin.
The trust premium rate mentioned in the message shows the difference between the Net Asset Value (NAV) of the trust and the market value of the cryptocurrencies held in the trust. A higher trust premium rate indicates increased investor interest and demand for the cryptocurrency, leading to a greater price than NAV. Conversely, a negative trust premium rate indicates decreased investor interest and demand, leading to a lower price than NAV.
The trust premium rate of mainstream currencies mentioned in the message is negative for all currencies except BCH, indicating the lower investor interest and demand for these currencies. BTC has a trust premium rate of -38.19%, indicating a decrease in investor interest in the cryptocurrency. ETH has a trust premium rate of -49.24%, the lowest of all, indicating a significant decrease in investor interest and demand for the currency. ETC has the lowest trust premium rate of all currencies mentioned, at -64.07%, indicating the least investor interest and demand for the currency. LTC has a trust premium rate of -47.54%, putting it in the same category as BTC and indicating decreasing investor interest in the currency. BCH is the only currency with a positive trust premium rate of 27.84%, indicating increased investor interest and demand.
The trust premium rates of cryptocurrencies can serve as an indicator of the overall sentiment surrounding cryptocurrencies, particularly for institutional investors. The negative trust premium rates for most mainstream currencies in the report suggest a decrease in investor interest and demand, particularly for ETH and ETC. It will be interesting to see whether the trend of decrease in trust premium rates continues or if there will be a resurgence of investor interest in these currencies.
In conclusion, the message reports on Gray Scale’s position and the trust premium rate of mainstream currencies on Coinglas. This information can serve as an indicator of the overall sentiment surrounding cryptocurrencies, particularly for institutional investors.
500
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/7695/
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.
Recommended articles
-
TORN Breaks Through $9 and Trades at $9.03: Analysis of Market Volatility
According to reports, the market shows that TORN has broken through $9 and is currently trading at $9.03, with a daily increase of over 10%. The market is highly volatile, so pleas
-
**Damus Integrates ChatGPT to Enhance Its Open Social Application**
On April 3rd, Damus, an open social application based on the Nostr protocol, announced in a social media article that it has integrated ChatGPT optimized for chat, supporting multi
-
What is the stability of counterfeit coins (the platform with the most counterfeit coins)
What kind of counterfeit currency is stable? According to trustnodes, various counterfeit currencies have experienced significant fluctuations in recent times. However, both Bitcoin and Ethereum have experienced a sharp correction (it has lasted nearly three months since January 2018), and these changes have led many people to believe that the price of Bitcoin will fall to a higher position, while some analysts said that this is due to the rise in the price of counterfeit coins Below is a simple example to illustrate why there is such “relative stability” between Bitcoin and Shanzhai coin. If Bitcoin is unstable, it may be affected by an ICO boom similar to 2017 Platforms with the largest number of counterfeit currenciesAccording to newsbtc, the Currency Exchange is one of the largest Cryptocurrency trading platforms with the largest market capitalization. There are over 300 currency trading pairs on its platform, with a total asset of approximately $500 million (valued at nearly $1 billion at current…
-
What is the use of withdrawing in the Bitcoin era (what does Bitcoin withdrawal mean)?
What is the use of withdrawing in the Bitcoin era? What are the benefits of with
-
Circle’s USDC Redeems $2.5 Billion While Issuing $600 Million in 7 Days
According to reports, according to official data, in the past seven days, Circle has issued a total of $600 million in USDCs and redeemed $2.5 billion in USDCs, reducing circulatio
-
#**Countdown to Bitcoin Halving 2024: What It Means for Crypto Investors**
On April 29th, it was reported that according to the OKLink countdown special page of Ouke Cloud Chain, the current block height is less than 365 days away from the halving time of
-
Bitcoin Network Stats: Transactions, Computing Power, and Difficulty
According to reports, according to BTC.com data, the current number of unconfirmed transactions across the Bitcoin network is 28252, the overall network computing power is 321.62 EH/s, and the 24-hour transaction rate is 3.08 transactions/s. Currently, the overall network difficulty is 43.55 T. It is predicted that the next difficulty will be increased by 2.20% to 44.51 T. There are still 4 days and 13 hours left before the adjustment. The number of unconfirmed transactions across the Bitcoin network is 28252 Analysis based on this information:The Bitcoin network is a complex system that comprises several interconnected components that work in unison to enable the smooth operation and security of transactions. Many factors impact the network’s performance, such as the number of unconfirmed transactions, computing power, difficulty, and transaction rate. Recently, BTC.com published data indicating that there are 28,252 unconfirmed transactions across the Bitcoin network. This is a potential cause for concern because unconfirmed transactions can cause blockages in the network…
-
Ukrainian Cryptocurrency Exchanges Suspend Bank Card Business Amidst National Bank Restrictions
It is reported that the cryptocurrency exchange, Kyon and the Ukrainian exchange, Kuna, announced the suspension of the bank card business using the Ukrainian …
-
Galaxy Blitz Bridging the Gap: Web2 Players Get a Taste of Web3 Gaming
On March 16th, it was announced that Galaxy Blitz, a large Web3 game project, has opened a payment channel for web2 players. At that time, Galaxy Blitz can easily purchase in-game resources using over 130 fiat currencies and over 700 payment methods without any wallet knowledge and operation. Web3 game Galaxy Blitz opens legal currency payment channel Analysis based on this information:The announcement made on March 16th that Galaxy Blitz has opened a payment channel for Web2 players marks a significant milestone in the gaming industry. Galaxy Blitz is a large Web3 game project that initially catered only to players who have an existing knowledge on crypto wallets and the workings of Web3 gaming. This move was a positive one because it has expanded the reach and influence of the game project, which can ultimately translate to increased revenue. With the opening of the payment channel, Web2 players now have the opportunity to try out the Web3 game project without…
-
What does the snapshot of the forked coin mean (chia forked coin)?
What does the snapshot of the forked coin mean? The snapshot of the forked coin
-
Synthetix’s SCCP-293 Update: Reduced Perps Fees and Increased Open Position Limits
On April 28th, Synthetix announced that SCCP-293, which has been activated to update perpetual contract parameters, will significantly reduce Perps fees and increase the limit on o
-
2023 Hong Kong Web3 Carnival Showcases Ant Chain’s Innovations in Web3 Security
On April 15th, it was announced that the 2023 Hong Kong Web3 Carnival was held for four consecutive days at the Hong Kong Convention and Exhibition Center. On April 15th, Ant Chain
-
BTC’s last active supply has reached a historic high for over 10 years
According to reports, the last active supply of BTC has just reached 2704487.209 BTC for over 10 years, setting a new historical high.
BTC\’s last active supply has reached a histor -
What does “mint rush” mean? (What does “rush” mean in English?)
What does \”mint rush\” mean? \”Mint rush\” means that in the Mint protocol, indisc
-
Blur Token on the Rise
On February 16, according to the official news, the Blur Bidding Pools reached a record high of 69.94 million US dollars. Currently, 360 million BLUR Tokens ha…
-
What Beads Does Mining Bring (Mining, What to Mine)
What beads does mining bring? According to official news, what beads does BTC m