Institutional investors are clearly interested in cryptocurrencies. This is evidenced by the fact that institutional money is drying up the sell-side liquidity, pushing Bitcoin[1] prices higher. However, it won’t be long before these investors get a taste for the volatility and superior returns that Bitcoin and the cryptocurrency markets offer. Hence, it will only be a matter of time before investors attempt to diversify into altcoins.
While Ethereum[2] is the most popular cryptocurrency after Bitcoin, investors will want more. This is where investing companies like Grayscale[3] and other institution-faced platforms that offer altcoin investments will come into the picture.
Investment in Bitcoin will fuel the growth of altcoins with strong fundamentals
Bitcoin will no doubt be the main attraction, especially in light of the fact that it is expected to head to $100,000 this cycle. However, as the dust from this cycle settles, DeFi will take the spotlight due to obvious reasons,
- Potential to replace the traditional finance industry and its outdated systems
- A quicker and far efficient system that can be decentralized
- Rapid reduction of human intervention
- Evolution of a new industry and new use-cases
Enter: Grayscale
For a few weeks now, Crypto-Twitter has been going on about how LINK will be the next asset listed on Grayscale. As previously reported, this might be more than just a pipe dream since Grayscale has incorporated an additional six trusts in the state of Delaware that includes LINK, among other crypto-assets.
Source: State of Delaware[4]
As can be observed, the other cryptocurrencies include BAT, MANA, FIL, LPT, & XTZ. With Grayscale buying up most of the newly minted BTCs, the addition of new altcoins will definitely be bullish for these coins. Perhaps, an evolution of the
