The world's largest digital asset manager entity, Grayscale Investments, has offered five new trusts in Chainlink (LINK), Decentraland (MANA), Filecoin (FIL), Basic Attention Token (BAT) and Livepeer (LPT). This indicates institutional confidence which is a bullish indicator which might lead to explosion in prices of these altcoins. For the newbies in the cryptocurrency space, Grayscale Investments is a behemoth which has a huge effect on cryptocurrency prices and any news of them offering trusts in a particular one usually means greater profits down the line.
This is apparent from the price changes of these 5 altcoins in the last 24 hours. LINK is up almost 10%, MANA is up almost 22%, FIL is up almost 27%, BAT has increased 20% and LPT is up 143%! This quashes any doubts, if there were any, about the impact of Grayscale Trusts on the prices of these altcoins. As can be seen from this LPT daily chart below, its price has absolutely skyrocketed after the announcement.
If you are wondering that the prices of these altcoins has already increased and you probably missed the flight to the moon, do not worry for I am enumerating the next altcoins that could be offered by Grayscale Investments as trusts. A visit to the website of Division of Corporations wing of the State of Delaware for Grayscale Investments shows a list of more than 40 trusts that have been filed by Grayscale Investments. This is completely legitimate information and can add to your sources of information when you are looking for next altcoin moonshot. This list has various altcoins with some giants in the cryptocurrency space like Cardano (ADA), Aave (AAVE), Polkadot (DOT), Cosmos (ATOM), Synthetix (SNX) and many more. So which of these altcoins will get offered as trusts by Grayscale Investments in the near future. A Coindesk article suggests that Grayscale may soon offer trusts for Cardano, Monero, Cosmos, Polkadot and Aave pretty soon.
In my opinion, it might be a good idea to invest in these altcoins given that they are fundamentally strong and hodl them till the news of a Grayscale Trust is announced and these coins moon.
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The views and opinions expressed here are solely of the author. Every investment and trading move involves risk and it is necessary that you conduct your own research before making any decisions.
