Friday, 8 December 2023

Crypto News

Trading frenzy hits Chainlink as Ethereum builds momentum and BorroeFinance presale shines

Trading frenzy hits Chainlink as Ethereum builds momentum and BorroeFinance presale shines

Grayscale’s Chainlink Trust Shares recently appreciated by 200%, igniting a buying trend among LINK bulls. Also, Blackrock’s spot Ethereum filing triggered a surge in the price of Ethereum (ETH)

Meanwhile, BorroeFinance ($ROE) leads top DeFi projects with a remarkable presale performance.

Let’s find out which is the best cryptocurrency to invest in.

Grayscale’s Chainlink Trust hits $44: can LINK touch $20?

On November 9, Grayscale revealed a significant development in its Chainlink Trust Shares via its official website. According to the company, its Chainlink Trust Shares increased by a 200% premium. This comes as Chainlink (LINK) makes remarkable chart upside moves.

ChainLinkGod, a LINK fan and X user commented on the development around the Chainlink Trust. He said the commodity is the first security whose movement aligns with LINK and draws strength from the token. 

The Chainlink Trust Shares’ connection to LINK makes it possible for investors to invest in LINK without making an actual purchase.

Lately, Chainlink (LINK) has been in an uptrend, gaining 24.36% between November 6 and November 10. This rally saw LINK rise from $12.23 to $15.21. Meanwhile, experts remain bullish on Chainlink, with their recent prediction seeing LINK attain the $25.00 region in the long run.

This projection indicates an anticipated 9.79% increase in the price of LINK.

Ethereum rises 10% amid Blackrock Spot Ethereum ETF news

On November 9, ETF analyst James Seyffart called attention to a recent spot Ethereum ETF filing by Blackrock. 

James noted on the X platform that the firm confirmed the ETF application with Nasdaq, bearing serial number 19b-4. The news traversed the crypto community, sparking excitement among Ethereum (ETH) users.

This development tipped Ethereum (ETH) into a rally. Ethereum (ETH) experienced a value surge between November 6 and November 10, bouncing from $1891.71 to $2085.14. This jump portends a 10.23% boost in the market value of Ethereum (ETH).

Another factor behind this surge is a recent network development. According to on-chain analytic firm Santiment, small addresses holding 0.1 ETH and less had risen to 100,000 for the first time. Likewise, wallets holding from 10 to 10,000 ETH also went up.

Experts noted in their Ethereum price prediction that ETH could push further to $2,500, moving at its current pace. This…

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