Grayscale Increases Holdings in Ethereum Classic Despite Last Week’s Crypto Market Crash
Login

Grayscale Increases Holdings in Ethereum Classic Despite Last Week’s Crypto Market Crash

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:


Grayscale, the world’s largest cryptocurrency assets manager by AUM, has announced that it has increased its holdings in Ethereum Classic (ETC), Bitcoin Cash (BCH), and Litecoin (LTC). The recent acquisitions have brought the total value of the company’s crypto holdings to $39 billion.

According to a report published by Bybt, a cryptocurrency analytics firm, Grayscale purchased 80,300 ETC, 1,822 BCH, and 1,468 LTC last week.

Meanwhile, Bitcoin (BTC) remained the dominant asset held by Grayscale, as the investment company now has more than 655,500 Bitcoin in its possession with a total value of $32.7 billion at press time. Even though Bitcoin had a rough time last week, Grayscale has acquired about 6,748 BTC over the past 30 days.

The company’s total Ethereum Classic holding now stands at about $140 million. The cryptocurrency market valuation currently stands at $1.55 trillion and is down by 1.25 over the past 24 hours, as the cryptocurrency market struggles to pare recent losses.

ETCUSD – 4-Hour Chart

Key ETC Levels to Watch — March 8
The ETC traded on a mixed sentiment in the early hours on Monday and was last spotted around the $11.23 price point.

Since the last crash in February, the fifty-third-largest cryptocurrency has struggled to regain a strong bullish momentum to no avail. The cryptocurrency appears to be confined within a trading range between $12.21 and $10 over the past few weeks. Ethereum Classic has to post a sustained break above the $12.46 resistance to finally negate the consolidation range and reclaim its all-time high.

Meanwhile, our key resistance levels are at $12.46, $14.00, and $16.00. While our key support levels are at $10.57, $10.00, and $9.00.

Total Market Capitalization: $1.55 trillion

Ethereum Classic Market Capitalization: $1.3 billion

Ethereum Classic Dominance: 0.083%

 

You can purchase crypto coins here: Buy Coins

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News