• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
litecoin
Nexo Logo

Grayscale Loads Up On Litecoin, Dumps BTC & Other Coins, But Why?

Cameron Bailey by Cameron Bailey
11 months ago
in Litecoin
Reading Time: 3 mins read
Advertisement

On Wednesday, Greyscale Capital added nearly 8,500 Litecoin to their crypto investment holdings. The investment firm has further spent the last week loading up on Litecoin.

Within the last seven days, they purchased just over 15k Litecoin and in the past 30 days added an additional 15k to their holding. Concurrently, they offloaded a large amount of other cryptocurrencies in the last 24 hours with 35 Bitcoin, 216 Ethereum, and 4,714 Stellar Lumens being the largest movers sold off from their portfolio of crypto assets.

As is evident in the chart of Greyscale’s holdings below, they are very bullish on Litecoin while also showing some slight doubt for the rest of the crypto market.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Greyscale Capital Crypto Holdings

Image from Bybt.com

Related Reading | Crypto Analyst: Buying Litecoin Now Is Like “2020 Ethereum”

Although it is never a good idea to closely scrutinize whale-like holdings from investment firms or crypto wallet addresses that make large moves, seeing a few massive purchases over the last month proves Greyscale’s confidence in Litecoin and their ability to continue leading the way for new blockchain technology.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Large investment firms do not make any moves lightly or without careful consideration for the market as a whole. With this purchase, Greyscale is showing crypto investors what it thinks of both the market right now and where they think the market is moving in the near future.

Crypto investors in general should be bullish that Greyscale is making such a large move. But nobody should get too hyper focused on Greyscale’s fire sale of some of their other crypto assets. Large firms are always attempting to manipulate the markets and catch lightning in a bottle. If they feel they can make a quick buck on an uptick in Litecoin, they’ll do it. The rest of the market will continue to move as a decentralized network does and will continue to reward those that hold their investments over a long term.

Related Reading | Pantera Capital CEO: Bitcoin Has Only Been This “Cheap” 20% Of The Last 11 Years

Why Greyscale Would Buy Litecoin

There are many reasons why an investment firm like Greyscale would buy a massive amount of Litecoin while simultaneously dumping a lot of other cryptocurrency assets. Not only are they obviously bullish on Litecoin and it’s direction, but they may have also been overexposed with investments in other coins.

As the crypto asset market and blockchain technology in general continues to change on a near daily basis, Greyscale certainly could have realized that they were holding too much of certain crypto. Then, in their effort to mitigate the risk of having too much holdings in any one investment, they have slowly been liquidating cryptocurrencies that they are not as bullish on and those they feel they have a surplus of.

Remember, Greyscale is one of the biggest players in the cryptocurrency investment space right now does not want to risk losing a lot of money on any one investment. They still have billions in holdings of both BTC, ETH, and multi million dollar holdings in over ten other cryptocurrencies. Their purchase of Litecoin simply shows how optimistic they are about Litecoin and the future of that crypto.

Photo by fabio on Unsplash
Tags: blockchain technologycryptocurrencyLitecoinNews
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Cameron Bailey

Cameron Bailey

Cameron Bailey is a writer, musician, and artist based in Evanston, IL. You can find his professional portfolio and additional work at the accompanying links. He owns a small amount of crypto assets.

Related Posts

Litecoin LTC LTCUSD

Litecoin Reveals Rollout Date For MimbleWimble, Will LTC See Relief?

2 weeks ago
Litecoin

Litecoin Drops 87% Trading Volume In Q1 2022

3 weeks ago
Litecoin

Litecoin Sees Gains As MimbleWimble Kicks In, What It Means For LTC’s Price

4 months ago
Charlie Lee, Litecoin 10 years

Charlie Lee Sums Up Litecoin’s 10 Years History. Part Five: Conflict Of Interest

7 months ago
Charlie Lee, a photo

Charlie Lee Sums Up Litecoin’s 10 Years History. Part Four: SegWit Activation

7 months ago
Litecoin, an Antminer by Bitmain

Charlie Lee Sums Up Litecoin ‘s 10 Years History. Part Three: SegWit Intro

7 months ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Wildcoins Casino

Wildcoins Casino

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

NFCore (NFCR) Is Now Available for Trading on LBank Exchange

May 20, 2022

How to Gain Great Sums with Quitriam Finance (QTM), Cosmos (ATOM), Flow (FLOW)?

May 20, 2022

3 Cryptocurrencies that could give you Greater Gains: Mushe Token (XMU), Cardano (ADA), and Polkadot (DOT)

May 20, 2022

Award-winning Crypto Game, Stonk League Introduces GameFi Player Rankings

May 20, 2022

You Play You Earn: How Gaming Finance (GameFi) Can Disrupt the Cryptocurrency Market?

May 20, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Spin & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.