Grayscale said that it is considering new investment assets, the most prominent of which are DeFi. Even though Musk loves Dogecoin, he says that he prefers Bitcoin (BTC) as corporate strategic investment.
Grayscale is the issuer of publicly traded products such as a Bitcoin Trust with the support of Bitcoin (BTC). In recent days, they announced that they are considering 23 new assets, 8 of which come from the DeFi ecosystem of Ethereum.
Those other assets are Aave, COMP from Compound, MKR from MakerDAO, Reserve Rights (RSR), SUSHI from SushiSwap, Synthetix Network Token (SNX), YFI from yearn.finance, and UNI from Uniswap. Like Polkadot’s DOT, Cosmos’s ATOM, and Cardano’s ADA, there is a sign that the “big revision of prices” may be gathering momentum.
Grayscale CEO Michael Sonnenshein said that “the universe of digital currency is constantly evolving.” He added that “bold, exciting and innovative opportunities can meet investor demand, as is the case with this expanding asset class.”
According to Grayscale’s announcement, there are also considerations such as “sufficiently secure custody arrangements and regulatory considerations.” They consider that these will be factors in deciding which assets to trade as products traded on a stock exchange.
Atomic Swaps Go to Ethereum and Bitcoin Thanks to the New Version of AtomicDEX
The Komodo platform recently released the public beta version of AtomicDEX, which seeks to enable trustless atomic swaps between different blockchain networks. Currently, it connects Ethereum and its tokens to blockchain networks such as Bitcoin (BTC), Litecoin (LTC), and Dogecoin (DOGE).
Atomic swaps allow users to trade directly with native tokens. By buying Ether (ETH) with BTC, they would simply exchange the ownership of the respective currencies on their blockchain networks. For that reason, they would not need to use intermediate representations of tokens.
In this type of cross-chain interaction, special cryptographic techniques are generally based on Hash Time-Locked Contracts (HTLC). The latter ensures that two transfers occur completely or not at all.
This implies that two parties to an exchange transaction will trade funds simultaneously. Also, if either party pulls back, there will be a cancellation of the transaction.
Elon Musk Is Not Worried about the SEC Investigating His Tweets about Dogecoin
The US Securities and Exchange Commission (SEC) may be investigating Elon Musk’s impact on Dogecoin prices. Those are the rumors circulating on social media about the CEO of electric car manufacturer Tesla.
Musk has previously clashed with the SEC, but a possible legal sequel to his penchant for the meme cryptocurrency does not seem to faze him. His love for “dogs and memes” has led him to post humorous memes about Dogecoin (DOGE). The most recent shows the mascot, Doge, “on the actual moon”.
In traders’ jargon, that refers to stratospheric price action, which would suggest a form of support. Musk has said that he loves the meme cryptocurrency, but that he prefers Bitcoin (BTC) in the case of personal and corporate strategic investments.
Although the CEO’s posts on Twitter are ironic, they have not stopped driving the memecoin market up. An example of this is the “Dogecoin Christmas 2020” meme.
By Willmen Blanco