Grayscale Investments, one of the largest crypto asset management firms, has doubled-down on their Bitcoin (BTC) transfers as of recently, and moved a total of 93,700 BTC worth $3.85 billion in total to the leading cryptocurrency exchange, Coinbase.
This occurred after a notable shift in the market, but the same cannot be said for Ethereum (ETH), as this has been delayed until March 10, 2024, by the SEC. There is no decision currently in place for ETFs featuring the ETH crypto. In the meantime, the Meme Moguls (MGLS) presale is making significant waves among Web3 circles and could soon reach new heights with its crypto ICO. Today, we will dive into all three cryptocurrencies and see what’s in store for their future.
Grayscale Buys Significant Amount of Bitcoin (BTC)
Blockchain analytics firm Lookonchain recently shared an update from Grayscale Investments surrounding the total volume of Bitcoin (BTC) crypto units that are transferred to Bitcoin. This was a direct result of the Securities and Exchange Commission (SEC) approving its spot Bitcoin application. It also included 10 other Exchange Traded-Fund (ETF) issuers.
There were numerous transactions: for example, on January 23, 2024, Grayscale deposited 15,222 BTC worth $588.8 million at the time on Coinbase Prime. The second one occurred a day after, in which they transferred an additional 14,487 BTC, worth $578 million, to Coinbase Prime and an additional 4,750 BTC, worth $189.8 million, to new wallets. Grayscale, in total, has transferred 93,700 Bitcoins worth $3.85 billion. They still hold 519,399 BTC, worth $20.84 billion.
Ethereum (ETH) ETF Could Spark Additional Interest
The US Securities and Exchange Commission (SEC) has just put off its decision on approving a proposal to launch a spot Ethereum (ETH) exchange-traded fund until March, based on an official filing published January 24, 2024. The regulator now has until March 10 to approve, reject, or even initiate additional proceedings on the merits.
The Ethereum price has found support at the $2,200 level currently. According to the Ethereum crypto chart, during the past week, it moved from $2,186.35 to $2,531.09 and found support at the $2,200 level. While it did face rejection above $2,500 and never touched $2,600 in the past trading sessions, it is still heading in a bullish direction. According to the Ethereum price prediction, the crypto can reach $4,172.54 by the end of 2024.
Meme Moguls (MGLS) to Become a Major Player in the TradFi Space and Raises Nearly $2M With Presale
Meme Moguls (MGLS) is an upcoming Web3 platform that can completely change how users enter the meme coin space by introducing Play-to-Earn (P2E) elements. The Moguls Exchange Trading Platform is at the core of the ecosystem and enables anyone to trade meme-based assets.
MGLS is the native cryptocurrency that is at the center of the operations and functions as the governance token and in-game currency of the platform. It operates in Moguls Land as well, a dedicated Metaverse where users will be able to connect, mine tokens, join liquidity pools, and stake their tokens.
● Each player has the opportunity to engage in simulated trading. ● They begin with $100,000 in virtual currency. ● However, to better simulate real-world investing, they can only commit 20% to a single investment. ● Each player can climb up the leaderboards to reach Moguls Status in order to get the best possible outlook.
This Ethereum-based altcoin is currently at Stage 5 of its presale and trades at $0.0036. Early investors already gained 90% in ROI, but at launch, analysts project an upswing of 100x is possible for the crypto. So far, nearly $2 million have been raised, which raised interest among traders. These aspects make it the most appealing crypto ICO of 2024.
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