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Institutional Crypto Giant Set to Surpass $10 Billion in Bitcoin, Ethereum, XRP and Altcoin Holdings – The Daily Hodl

The leading digital asset manager Grayscale is on the cusp of a major milestone.

New numbers on Grayscales crypto products show the company now has $9.8 billion in assets under management (AUM), rapidly approaching the $10 billion mark.

Grayscales suite of investment products give institutional investors a simple and regulatory compliant way to gain exposure to Bitcoin (BTC), Ethereum (ETH), XRP, Bitcoin Cash (BCH), Litecoin (LTC), Stellar (XLM), Horizon (ZEN), Zcash (ZEC), and Ethereum Classic (ETC).

The companys new Q3 report shows just how fast the space is growing in 2020.

Grayscale says investors bought $1.05 billion in Grayscale Trusts throughout the quarter, higher than its previous record of $906 million in the second quarter of this year.

With an average weekly investment of $80.5 million, it wont be long until the firm crosses that $10 billion mark.

More institutions invested in 3Q20 than ever before and have increased their average allocation from $2.2 million in 3Q19 to $2.9 million in 3Q20. Institutions that are comfortable with multiple products within the Grayscale suite of products, have averaged nearly double the commitments of single-product investors during 3Q20

Consistent and significant growth in the demand for digital assets shown through the lens of Grayscale asset raising continues to corroborate our view that digital assets are an emergent market that should not be ignored. This persistent demand has allowed Grayscale Bitcoin Trust to become one of the fastest-growing investment products in the world.

And as investors grow more comfortable with digital assets, we are seeing increased appetite among Grayscales products. Grayscales Bitcoin Cash, Litecoin, and Digital Large Cap products have all seen over 10x growth in inflows quarter-over-quarter.

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The Next 20x to 50x Crypto Trend Is Coming, Says Influential Altcoin Trader Heres His Strategy for Spotting Top Projects – The Daily Hodl

A group of altcoins are gearing up for exponential gains, according to crypto trader and influencer Aaron Arnold.

The host of the popular YouTube channel Altcoin Daily says he believes anyone that has written off the decentralize finance (DeFi) sector is underestimating the strength of the nascent market.

Arnold points to data from Ethereum insights platform Dune Analytics that shows the total number of DeFi users over time remains in a parabolic rise amidst an overall price correction in the DeFi market.

Whats most interesting to me was in early to mid-September, when all the prices started going down, the metrics only continued to increase This is total DeFi users over time, but you can go to individual projects and see the same thing.

Arnold says the data from Dune is a key indicator of which DeFi projects are the most popular, with Uniswap (UNI), Compound (COMP), Kyber (KNC), Aave (AAVE), yearn.finance (YFI), Maker Dao (MKR), and Curve (CRV) all continuing to grow in user adoption.

The trader says hes specifically watching yearn.finance, Synethetix (SNX), Compound and Aave as DeFi projects with significant upside potential.

Im here to postulate that the next big alt trend will still be DeFi. DeFi is still in a bull trend, and the trend is your friend. Anybody who says DeFi is dead simply has not been paying attention. Yes, we have seen the degen DeFi food coins flushed out, the tacos, the hot dogs. They are dead Its very common in cryptocurrency to go through bubbly periods. Once the bubble pops, then the degen coins get flushed out and the more legit coins, the coins with more staying power, prevail for longer

While total value locked for individual projects did have a period of going down, for the last 30 days you can look at individual projects Compound trending up, Aave trending up, Synthetix for about the last 15 days trending up

I think with all these metrics, theyre pointing to higher prices. While I dont know if its possible to still get a 100x in these projects, I think getting a 5x, 10x, 20x is possible. Hell, maybe even a 50x, because I think if you look at the back end metrics, these are all trending up. I talk to people who work at exchanges; they are super interested in DeFi. People in the traditional finance world are super interested in DeFi. Thats really where I see the next six months, possibly 2021 heading.

I

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Check This If You Are Looking For Altcoin That Will Explode – Somag News

Popular altcoin Yearn.finances YFI token has dropped to $ 7,500 before seeing one of the busiest short squeezes ever.

The cryptocurrency has experienced a tremendous surge in the past few days. Within hours of touching these lows, YFI faced sudden buying pressure and its price climbed up to $ 18,000. These figures point to an increase of more than 100% from altcoins daily lows. This bullish move has revitalized the DeFi industry and caused DEX trading volumes to skyrocket as investors begin to return to the industry.

As DeFis blue chips altcoins have gained sustained momentum in the past few days, its likely that this is just the beginning of a rally, according to analysts. According to analysts, the enormous power of Bitcoin and Ethereum could enable more capital flows into cryptocurrencies like Yearn.finances YFI. As long as BTC remains stable, investors will undoubtedly switch to higher-risk assets to increase their profitability, analysts say. One famous economist now points to three factors that point to the bullish trend at Yearn.finance. According to the economist, the altcoin could rise further.

At the time of writing, Yearn.finances YFI token is trading more than 3 percent at its current price of $ 14,400. These levels indicate a notable recovery from lows below $ 13,000 daily. These lows were set shortly after the cryptocurrency surged to the $ 18,000 highs, and this decline was due to aggressive profit-taking sales in the market. This is a sign that the final move is more than a dead cat splash or a short squeeze, according to analysts.

Alex, a cryptocurrency-focused economist, highlights three factors that suggest altcoins, such as Yearn.finances YFI, may rise higher next week. The intersection of these trends will undoubtedly support YFI and other blue chip DeFi altcoins, according to the analyst. The famous economist adds the following to his statements on the subject:

LOGIC SIMPLE. 1st RISK WEEK. 2. BTC FOR RISK TRADE. 3. ALTCOINS TO MAKE HIGH BETS AGAINST BITCOIN. THEN WE WILL GROW IN THE WEEK NEXT. YFI IS IN PLACE AND NO STATION. THE SIZE IS LARGE. THE GRAPHIC IS FOR BITCOIN TERM TRANSACTIONS.

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Altcoins Invested by Ripple CTO Lost $ 300 Thousand – Somag News

Ripple CTO David Swartz made important statements about some of the altcoins he invested in. When Swartz saw the bottom of these altcoins that he bought early, he lost 300 thousand dollars.

Ripple chief technology officer David Schwartz announced that he lost $ 300k after investing in some alternative cryptocurrencies. Have you lost your investments in Bitcoin and other cryptocurrencies? On Schwartz Quora. He answered his question and admitted that he made investments that did not end well.

David Schwartz, one of the chief executives of XRP, the 4th most valuable crypto money by market value, also explained some of the projects that lost $ 300,000 in total.

Most of these cryptocurrencies performed quite well in 2017-2018, but now almost all of them have bottomed out. According to CoinGecko data, TIX is trading at $ 0.001, while DICE is trading at $ 0.0002. FLASH and AMP are bought and sold for $ 0.003. Among these altcoins, Kudos, Pryze and Vezt are not even included in CoinGecko; this confirms that they have been at zero for a long time.

For Ripple CTO, this is not the first time for bad altcoin investments. Schwartz has previously made statements about wrong investment decisions. David Schwartz admitted on Twitter last October that he acted early, selling 40,000 ETH at $ 1 each in 2012. The current value of 40,000 ETH is about $ 18.5 million, and in another tweets, Schwartz said that he sold quite a lot of Bitcoin for $ 750 and a lot of XRP for $ 0.10.

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Bulls Are Forced In Altcoin! The Rally Might Be Unfinished – Somag News

Ethereum (ETH) rose above the $ 465 resistance against the US dollar. ETH price surged to a new monthly high near $ 477 and recently initiated a downside correction.

Ethereum is still following a nice bullish path above the $ 450 and $ 455 support levels, according to analyst Aayush Jindal. The price surged to a new monthly high near $ 477 and moved above the 100 hourly simple moving average. There is a crucial bullish trend line formed with support near $ 452 on the hourly chart of ETH / USD. The pair remains well supported near $ 450 and could continue its rise above $ 470.

There was a steady rise above the $ 455 and $ 460 resistance levels in Ethereum. ETH price even broke the $ 465 resistance level and settled well above the 100 hourly simple moving average.

It even traded to a new monthly high around $ 477 and recently started a downside correction. Ether price corrected below the $ 465 level. The initial key support is near the $ 454 level. There is also an important bullish trend line formed with support near $ 452 on the hourly chart of ETH / USD. On the upside, the $ 467 level is a short-term resistance for the bulls. The first major hurdle is near the $ 475 level, where the price could rise above $ 477 and $ 480. The next major resistance is near the $ 488 level, where ETH price could visit the $ 500 resistance.

If more losses occur below the $ 458 level, Ethereum could find strong buying interest near the $ 454 and $ 452 support levels. The 100 hourly simple moving average is also placed just above the $ 450 support level. Therefore, a break below the $ 450 support zone could trigger a sharp bearish move. The next major support below the $ 450 zone could be near the $ 432 level.

Hourly MACD: The MACD for ETH / USD is slowly losing momentum in the bearish zone.Hourly RSI: The RSI for ETH / USD is currently just below the 50 level.Major Support Level $ 452Major Resistance Level: $ 467

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Why Are These Three Altcoins Rising As Bitcoin Shakes? – Somag News

While Bitcoin (BTC) price has seen some decline in the last 24 hours, it has been noted that some altcoin prices have increased significantly. Among these subcoins were Aave, Civic and Yearn.Finance. So why are these three altcoins suddenly on the rise? Lets examine the reasons.

Bitcoin (BTC) has seen a 1.5% decrease in the last 24 hours, according to CoinGecko data, while some altcoin prices have increased. Its weekly performance is shared as 12.5% increase. After the news that the coronavirus vaccine studies were successful yesterday, the Bitcoin price approached the level of $ 15,800. However, within a short time, Bitcoin was in a slightly bearish trend. Currently, Bitcoin is trading at $ 15,258.

According to the data, the Aave price has increased 5.7% in the last 24 hours and 101.3% in the last week. Aave announced that the admin key on Medium has been transferred for user security. Then the Independent Reserve announced that it will start listing some altcoins, including Aave. The Aave price, which may have been affected by these releases, continued to rise.

According to the analysis of Cryptobriefings Ali Martinez, Aave saw high demand on November 5th. The DeFi token went from $ 26.4 to $ 59. This price increase seen in a short time may result in a pullback, according to Martinez. The analyst stated that the selling pressure seen in Aave recently could be prevented to some extent, but investors will continue to buy in order to prevent prices from falling. Otherwise, he underlined that the price of Aave may decline to $ 31.6. Aave, currently $ 59.94.

According to data from CoinGecko, Civic has increased by 102.1% in the last 24 hours and 523.8% in the last week. Coinbase announced on November 5 that it will start supporting some altcoins, including Civic. After this announcement made on November 5, the price of the Civic appears to have increased gradually. Civic, which is likely to have been affected by this news feed, is currently trading at $ 0.14.

According to the shared Civic price chart, Yearn.Finance has climbed 19.9% in the last 24 hours and 77.3% in the last week. YFI was one of the most popular coins of October, according to ICO Analytics. Yearn.Finances developers, Bantegs announcement that the Keep3r network is ready to be integrated into YFI has seen an upward movement in the YFI price.

In his analysis for YFI, Ali Martinez suggests that Yearn.Finance may have entered consolidation with the increase it has seen in the past few days. He said that an increase in buying pressure could raise YFI up to $ 19,000. The analyst said that if the uptrend reverses, it may decline to the support point at $ 14,000, adding the possibility of a 20% drop, adding that the YFI price may decline to the support point at $ 11,000. Currently, YFI is trading at $ 17,630.

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The oracle shares the levels of 3 altcoins that will explode – Somag News

World-renowned crypto analyst Michal van de Poppe explains a group of altcoins that he believes has the potential to spark strong rallies if Bitcoin continues to consolidate.

In his latest analysis of cryptocurrencies, veteran analyst Michal van de Poppe explains where BTC might go next if Bitcoins failure to close above $ 16,000 triggers a healthy correction. Michal van de Poppe adds the following to his comments on the subject:

WEEKLY CLOSING GOOD, BUT UNDER 16,000 DOLLARS. LEVELS TO FOLLOW: IF THE MARKET BEGINS TO CORRECT: $ 13,700 $ 14,100. THEN 12,800 DOLLAR 13,200 DOLLAR AND 11,500 DOLLAR 12,000 DOLLAR RANGE

As for the altcoin market, the famous analyst says that if Ethereum stays above $ 390, it will make a big breakthrough. Michal van de Poppe adds the following to his comments on the subject:

ETHEREUM STILL MOVES WITH RESISTANCE. IT MADE A BEAUTIFUL SUPPORT RESISTANCE IN 360 DOLLARS, IT HAS RISE HIGHLY. IF THIS DOES NOT FALL BELOW 390 DOLLARS IN THIS RESISTANCE ZONE NOW IN 460 DOLLARS, WE ARE ON THE WAY TO A MASSIVE BREAKING TO 600 DOLLARS AND EVEN TO 800 USD.

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Google: We’re capping your free cloud storage at 15GB starting next year – TechRepublic

Files, photos and videos will start counting towards users' 15GB free Google Account storage starting 1 June 2021, with files exceeding the limit at risk of being deleted.

Files, photos and videos will all begin counting towards Google Account owners' 15GB free storage from June 2021.

Image: CNET

Google is making big changes to its cloud storage policy, announcing yesterday that free online storage for files, photos and videos will be capped at 15GB starting next summer.

From 1 June 2021, any new files created in Drive, as well as photos and videos uploaded to Google Photos, will count towards the 15GB of free storage included with every Google Account. Customers who go over that limit risk having excess content stored in Gmail, Drive and Photos deleted.

SEE:Cloud data storage policy(TechRepublic Premium)

Those who wish to extend their storage beyond 15GB can pick up a Google One account, which starts at $1.99 per month for 100GB storage. This seems to be the primary motivator behind the changes: according to Google, more than 4.3 million GB are added across Gmail, Drive and Photos every day, so it seems Google wants to monetize this huge reliance on its cloud services.

"To continue providing everyone with a great storage experience and to keep pace with the growing demand, we're announcing important upcoming storage changes to your Google Account," Google said in a blog post announcing the changes.

"These changes will apply to Photos and Drive and will enable us to continue investing in these products for the future. We're also introducing new policies for consumer Google Accounts that are either inactive or over their storage limit across Gmail, Drive and Photos, to bring our policies more in line with industry standards."

Google Photos has offered unlimited storage since 2015. Historically, users have been able to upload images in 'high quality' resolution to Google Photos without it counting towards the 15GB cap.

From the sounds of it, consumers have been making good on that offer. According to Google, today there are more than four trillion photos stored in its cloud-based photo gallery, with 28 billion photos and videos being uploaded to Google Photos each week.

"This change also allows us to keep pace with the growing demand for storage," Google said in a separate post.

"We know this is a big shift and may come as a surprise, so we wanted to let you know well in advance and give you resources to make this easier."

SEE: Top cloud providers in 2020: AWS, Microsoft Azure, and Google Cloud, hybrid, SaaS players (TechRepublic)

For now, no action has to be taken by users. Photos and videos that have already been uploaded to Google Photos in high quality as well as any uploaded before 1 June next year will be free and exempt from the storage limit and will not count toward the 15GB cap.

Similarly, existing Docs, Sheets and other Google files will not count toward storage, unless they're modified on or after 1 June 2021.

By Google's estimates, it will take 80 percent of users at least three years to hit the 15GB cap. The company says it will notify users as they approach their storage limit, and is also offering each user a personalized estimate of how quickly they are expected to reach 15GB cap, based on how frequently they back up their stuff to their Google Account.

Beyond this, users risk having photos, files and videos deleted if they exceed their limit or otherwise remain inactive for more than two years.

Owners of Google's Pixel smartphones from the latest Pixel 5 to the original 2016 model don't have to worry about the changes to Photos, as free, unlimited storage comes as part of the package.

This is your go-to resource for XaaS, AWS, Microsoft Azure, Google Cloud Platform, cloud engineering jobs, and cloud security news and tips. Delivered Mondays

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Google Photos a reminder that cloud storage isn’t infinite – TechHQ

While it might seem like it, the cloud services we rely on each day to store our documents arent infinite, endless voids of storage.

Ever since I started using Google Photos when it was first introduced five years ago, I never bothered about backing up my memories any other way. Why? It stores an unrestrcited number of files, at a resolution up to 16 megapixels or 1080p video, for free making Google Photos the most generous photo storage option on the market.

But, in a reminder of the increasing masses of data we are banking in both our personal and working lives, free unlimited storage for Google Photos will soon be a distant memory too, for all of us.

Google Photos announced that it will start charging for storage once more than 15Gb on the account has been used. Hence, starting June 1, 2021, once you go over 15Gb, youre going to have to pay up. The update came with other Google Drive policy changes like counting Google Workspace documents and spreadsheets against the same cap. Google is also introducing a new policy of deleting data from inactive accounts that havent been logged into for at least two years.

All Google accounts come with 15 GB of free storage, which you eat up with Gmail messages and attachments, Google Drive files, and Google Photos uploaded at their original size. All of that still applies. But youve had an option to this point to let Google resize your photos to a 16-megapixel maximum when you upload them.

Those photos, as well as videos that top out at 1080p resolution, have not counted against that 15Gb cap. As of June 1, 2021, new uploads of any size will. The upside is, existing high-quality photos and videos wont apply to the 15Gb limit, nor will any that you upload through next May.

In a blog post announcing the change, Google Photos vice president Shimrit Ben-Yair said that 80% of users should stay under their quota for roughly three years before they hit that limit, although obviously, your mileage will vary.

To put it in perspective, it was revealed that more than 4 trillion photos are stored in Google Photos with 28 billion new photos and videos are uploaded every week. A similar post about the wider ecosystem revealed that 4.3 million gigabytes were added to Gmail, Drive, and Photos combined every single day.

Inevitably, the announcement is a sign that as we amass more data than ever before, even the storage vaults of the worlds biggest cloud giants must become realistic about the sustainability of their policies. Google Photos product lead David Lieb wrote on Twitter on Wednesday, Since so many of you rely on Google Photos as the home of your lifes memories, we believe its important that its not just a great product, but that it is able to serve you over the long haul.

To ensure this is possible not just now, but for the long term, weve decided to align the primary cost of providing the service (storage of your content) with the primary value users enjoy (having a universally accessible and useful record of your life).

In other words, best to charge people for the cloud space, then to disappear the service altogether. Notably, Google has introduced a tool to estimate how long your storage will last, based on your current rate of uploads, and next year will start making it easier to find uploads you might want to delete: blurry or dark photos, say, or long videos/.

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What is the cheapest way to save all those photos in your phone? – Mint

If youre used to storing your photos and videos for free in the Google cloud, then this week brought some bad news: The days of unlimited storage are numbered.

From June 2021, youll still get 15 gigabytes of storage for free, but anything over that and youll have to pony up. So with the heady days of free data storage nearing an end, whats the most cost-effective way of storing pictures orany file from your smartphone? Should you keep uploadingyour snaps to the cloud, or store them on a computer? Should you pay for a larger hard drive on your device, or perhaps think about an external hard drive?

Lets start with smartphones. Memory is where firms like Apple Inc. and Samsung Electronics Co. Ltd. really make their money. It will cost you an extra $100 for every 128 GB of memory you add to your iPhone or Galaxy, the most recent iterations of which are both available with up to 512 GB. Thats a lot more than the costfor either manufacturer: A similarly sizedNAND flash memory chip costs just $1.66 at recent prices. Its a very healthy gross profit margin indeed.

Google meanwhile only offers its Pixel handsets with 128GB of memory. That was all well and good when the company let you store unlimited datain the cloud for free. But now its worth thinking about your options.How much will the cloud set you back? The main consumer cloud providers the likes of Apples iCloud, Google One, Microsoft OneDrive and Dropbox Inc. are pretty much aligned on price these days. For 200 GB you can expect to pay $2.99 a month, for 2 terabytes it will be $9.99.

Americans replace their smartphones, on average, every 33 months, so buying an extra 200 GB of storage each month would cost $98.97 for the lifespan of the device. That works out significantly cheaper than buying asmartphonewith more memory at the outset, since opting for an iPhone with an additional 256 GB of memory would add $200 to the price. Of course, the longer youre willing to hold onto your handset, the cheaper it becomes versus cloud storage.

How about forgoing additional phone storage and just regularly backing your handset up to your computer? If youre an Apple fan, backing an iPhone up to a Macbook wont save you a penny additional memory options for the firms laptops cost the same per gigabyte as they do for the iPhone. In some instances, theyre even more expensive.

But you can start saving money with external hard drives and thumb drives. A 256 GB thumb drive from SanDisk, a unit of Western Digital Corp., costs as little as $32.49. On a cost-per-gigabyte basis, that knocks the others out of the park: The smartphones and laptops cost the equivalent of 78 cents for each extra gigabyte; the cloud providers charge 49 cents; and the external hard drive averages out at just 15 cents(1).

The problem is that external hard drives are a real pain to use. You generally have to upload files to your computer,and from there to the drive. Then you cant access them again until youre back at your computer.

There are, however, two options that are better. Some smartphone makers, not least Samsung, let you add extra memory in the form of a MicroSD card. At an average of 19 cents per gigabyte, theyre only slightly more expensive than an external driveand a great deal easier to use.

The other option is the one hold-out on unlimited free storage of photos online: Amazon.com Inc. But there is a risk that the e-commerce behemoth might follow Googles lead. Its the sort of bait-and-switch tactic that antitrust authorities are starting to examine more closely, where tech giants seem to make a service free long enough to squeeze out smaller rivals and take their customers, only to then crank up theirthe prices up once the field. Sometimes cheaper isnt necessarily in the customers long-term interest.

(1) Based on the cost-per-gigabyte of256GB smartphone memory compared to200GB of cloud storage and the average of 256GB external hard drives or thumb drives.

This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.

Alex Webb is a Bloomberg Opinion columnist covering Europe's technology, media and communications industries. He previously covered Apple and other technology companies for Bloomberg News in San Francisco.

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