On May 30, the renowned auto brand DeLorean, made famous in the iconic film “Back to the Future,” revealed a collaboration with Web3 creative agency Otherlife, a branch of Moonpay. Together, they aim to launch a groundbreaking marketplace where DeLorean enthusiasts can purchase, sell, and exchange vehicle reservation build slots. Web3 Agency Otherlife and Auto […]
American multinational investment company BlackRock, has recently achieved a monumental milestone, recording over $20 billion in total assets. The BlackRock Spot Bitcoin ETF has successfully surpassed Grayscale to become the largest Bitcoin fund in the world. BlackRock Overtakes Grayscale BlackRock iShares Bitcoin Trust has recently become the world’s largest Bitcoin fund, overtaking its primary rival, Grayscale Bitcoin Trust (GBTC). Related Reading: Shiba Inu Open Interest Explodes 85% Amid 15% Price Jump, Why This Is Important As of Tuesday, May 28, BlackRock’s Spot Bitcoin ETF held around $19.68 billion in Assets Under Management (AUM), overthrowing Grayscale’s Bitcoin ETF with $19.65 billion and surpassing the third largest, Fidelity Investments, which recorded $11.1 billion in AUM. Over the past two days, BlackRock has recorded more inflows, pushing its AUM to more than $20 billion presently. Following the launch of its Spot Bitcoin ETF on January 11, Grayscale has consistently recorded massive outflows worth billions of dollars. For years, the asset management company was the world’s largest Bitcoin fund, reaching a peak of about $44 billion in 2021. However, since its conversion into an ETF at the beginning of 2024, investors have pulled out almost $18 billion from Grayscale’s Bitcoin fund. On May 3, GBTC recorded its first inflow, receiving approximately $63 million, and effectively ending its 82-day streak of outflows. Its previous outflows had already significantly weakened Grayscale’s position as the largest Bitcoin ETF. In contrast, BlackRock’s Spot Bitcoin ETF has been recording millions of inflows since its launch, making it unsurprising that IBIT has eventually surpassed Grayscale’s GBTC. BlackRock has only recorded a handful of outflows and minimal zero flows. Its highest recorded inflow occurred on March 12, with IBIT gathering approximately $849 million in a single day. Additionally, BlackRock’s Spot Bitcoin ETF witnessed its first outflow on May 1, losing about $36.9 million. On the same day, Grayscale had reported outflows of more than $167 million. Investors are likely favoring BlackRock’s Spot Bitcoin ETF due to its relatively affordable ETF management fees, which decreased from 0.30% to 0.25%. On the other hand, Grayscale has the highest ETF management fees among all the 11 approved United States Spot Bitcoin ETFs. While the asset management company has promised to slash fees, Grayscale’s Bitcoin Trust’s current ETF management fees remain as high as 1.5% annually. Still Leading Spot Bitcoin ETF Net Inflows According to Farside data, for the past week, BlackRock has been leading the Spot Bitcoin ETF race, recording the most inflows out of the 11 Spot Bitcoin ETFs. Related Reading: Shiba Inu Price Prediction: SHIB Shows Unusually High Strength Against Dogecoin Excluding May 27, when all United States Spot Bitcoin ETFs saw zero flows, BlackRock recorded a total of $127.1 million for the first two days. BlackRock’s Bitcoin Trust saw $102.5 million in inflows on Wednesday, while Grayscale’s Spot Bitcoin ETF witnessed outflows of $105.2 million. Currently, Grayscale is still recording more outflows, losing $31.1 million as of writing. Featured image created with Dall.E, chart from Tradingview.com
Crypto voters have become a new battleground for the 2024 presidential election, in a bipartisan shift that has taken Washington by surprise.
The memecoin whale made an over 52% return on its initial investment within a month, despite Pepe’s price falling over 17% from its all-time high.
Do you know that passing uplifting feeling when "Wow, Anthony Sassano followed me, and Vitalik Buterin liked my reply on Twitter/X!" Abd then reality hit after a double-check. Have you ever been in a similar situation? The recent case inspired me to research impersonation scams and our unconscious reactions to them. It's easy to claim…
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I am often asked my opinion of crypto by those who have not yet delved its rabbit holes. This is why I hold: 1. Serious Innovation and Talent First, I haven’t found an industry attracting such talent. It’s up there with AI, neuroscience, and space exploration. Yes, the scammers and the SBFs make the headlines,…
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Meme coin season is back in full swing as Pepe, Super Trump, and Brett experienced huge gains in May. Meanwhile, the new presale crypto WienerAI is emerging as a top prospect as its total raise surges toward $3.5 million. Are these meme coins set to continue their growth into June? PEPE, STRUMP, BRETT Bullish as […]
Hi everyone, I'm calling on any of you who might be able to help me. I made a withdrawal from binance to ledger but my withdrawal never arrived. I realised that I had entered the wrong address by one letter. The address that received my usdt only contains my usdt. Is there any way to…
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Bitcoin chews through overhead resistance on the back of U.S. GDP and jobless claims data, with risk assets benefiting across the board.
In his latest YouTube video titled “If I Had To 10X My Money In 90 Days, I’d Buy This Crypto Altcoin”, Miles Deutscher, renowned crypto analyst Miles Deutscher presented a refined outlook on altcoins he believes are positioned for significant gains in the next 90 days. Originally aiming to spotlight altcoins capable of a 20x return by the cycle’s end, Deutscher adjusted expectations based on realistic market analysis, highlighting those with the potential for a 10x increase. Altcoins With A 10x Potential Deutscher began his analysis by addressing the volatility and uncertainty inherent in the crypto markets, particularly within the altcoin sector. “A 20X return is not easy,” he explained, detailing the necessity of venturing deep into the risk curve and focusing on altcoins with smaller market caps to achieve such high returns. “You’re gonna need to go for coins in the one to $200 million market cap region, maybe $500 million to a billion,” he added. Related Reading: Mastercard Expands Crypto Reach With P2P Platform Launch Across 13 Countries Recognizing the often unpredictable nature of the crypto market, Deutscher revised his approach: “So I’m actually going to reduce this question to 10x. I think 10x is much more realistic for many alts. I like the risk reward on a 10x more, than a 20x.” Deutscher highlighted several altcoins he believes hold the potential for substantial gains: Dogwifhat (WIF): Positioned as the premier meme coin on the Solana blockchain, WIF was discussed with particular enthusiasm by the analyst. With a current market cap of around $3.7 billion, Deutscher forecasted a possible climb to $37 billion, supported by strong community backing and favorable market conditions. He cited recent price movements and community engagement as indicators of an imminent rise, “WIF is starting to break out past this level [at around $3.60] on the daily, which is super bullish.” Pepe (PEPE): Another meme coin, Pepe, was noted for its volatility and high-risk, high-reward nature by Deutscher. Despite achieving a 70x return personally, Deutscher still foresees a lot of potential. However, he also advised viewers on the strategy of taking profits progressively, underscoring the necessity to secure gains in a high-volatility environment. Prime (Gaming Sector): Turning to the gaming niche, PRIME was mentioned by the crypto analysis as a promising candidate for a 10x increase, leveraging the growing popularity and investment flowing into blockchain-based gaming. Related Reading: Crypto Expert Says Market Has Begun A Macro Bullish Expansion – What This Means For Bitcoin And Altcoin Prices Fantom (Infrastructure) and AIOZ (DePin/AI): Both Fantom and AIOZ were recognized for their technological innovations and potential market growth, with Deutscher predicting feasible 10x gains due to their solid technological foundations and market positions. “Fantom (FTM) can 10x. AIOZ can 10x,” he stated. Risk Management In Crypto Importantly, Deutscher emphasized the differentiation in investment strategies based on coin type and market position. While coins like Solana and Ondo Finance might not present a 10x gain, their market leadership and stability offer lower yet significant returns, which can be crucial for maintaining balance within a diversified portfolio. “Can Solana and Ondo Finance (ONDO) 10x? Maybe not, but they’re leaders in their respective sectors. So you may be happy with a 3, 4x there. Not everything needs to be a 10x. This is what you also have to understand. Certain coins in your portfolio have a different purpose. You go in with bigger size, they’re safer. So you’re not taking on as much risk,” Deutscher explained. He also discussed riskier ventures such as Astroport, which, due to its lower market cap, presents a classic high-risk, high-reward scenario. “The lower the market cap, the easier it is to pump because the less liquidity it takes to impact the price,” Deutscher noted, highlighting the speculative nature of such altcoins. At press time, WIF traded at $3.46. Featured image created with DALL·E, chart from TradingView.com
