Ethereum Classic becomes Second-largest Holdings on Grayscale after BTC

Ethereum Classic becomes Second-largest Holdings on Grayscale after BTC

The official Twitter handle of Ethereum Classic [ETC] retweeted today a post that stated Grayscale, the cryptocurrency-focused investment trust has reported that they have about $90 million of ETC in its possession.

There was an update on Greyscale’s twitter account stating the same information. It said:

“08/08/18 UPDATE: Holdings per share and net assets under management for our investment products. $BTC $BCH $ETH $ETC $LTC $XRP $ZEC?”

On its official online portal, Grayscale has defined Ethereum Classic as cryptocurrency which is applicable in the Internet of Things [IoT] owing to its flexibility as a cryptocurrency. Furthermore, ETC is currently in the second position in terms of holding in the Grayscale trust with BItcoin (BTC) leading the charge with $1,385.3 million.

The prime targets remain institutional and accredited investors for Grayscale. The investment firm in the month of July has nearly  $1.4 billion of digital assets. Recently a tweet came up which confirmed that the figure has gone up to $1.5 billion.

Recently Ethereum Classic overtook big coins, namely, Tron [TRX] and Monero [XMR] after its the market capitalization swelled. It has shifted from the 13th position to 11th. But this jump was only shortlived as the cryptocurrency is back at the 13th rank again.

The listing of ETC on Coinbase that is going to happen in the upcoming days has kept Ethereum Classic in the spotlight. Coinbase is one of the leading players among other top exchange platforms in the cryptocurrency trading space. Coinbase recently finished adding ETC successfully as a testing on Coinbase Pro.

At the time of writing ETC was being traded $15.27 with a market cap of $1.58 billion. Within 24 hours the price of ETC has dipped by 5.67% with a trading volume of $365.8 million. ETC hit one of the lowest point of its time going down to  $14.73.  Another low ceiling for ETC this week was when it hit $14.26 [3rd August] with a market cap of around $1.47 billion.

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Madhuri Arora
A passionate writer and an avid reader. I love watching action and superhero movies. Love food, music, travel and games.