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The increase in Grayscale's holdings has what impact on the coin price?
Sharing another new article by researcher @lmkfun. In recent years, under the deregulation policy in the US, many large institutions have started to increase their layout in the cryptocurrency market. Especially in the last bull market, Grayscale not only continued to increase its holdings of BTC and ETH, but also expanded to various Altcoins (such as LTC, BCH, ZEN, ZEC).
7. Decentraland (MANA)
Holdings:
Since March 2021, the number of MANA has increased from 9 million to 18 million, accounting for about 0.9% of the circulating market value.
Price performance:
In the early stage after the increase, the price of the currency fluctuated at a low level for a long time;
After about half a year of slowing down the increase in holdings, MANA rose from $0.82 to $5.21, a surge of 535%.
Analysis
MANA
8. Basic Attention Token (BAT)
Holdings:
Since March 2021, it has increased from 1.8 million to 5.88 million, accounting for 0.39% of the circulating market value.
Price performance:
After the increase, it rose slightly by 20%, and then fell by as much as 60%;
After the increase slowed down, BAT climbed again to $1.7.
Analysis
BAT
Sector:
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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