It’s been just revealed that amidst the bear market that the crypto sector has been in for a while now, there are some pretty exciting events that are taking place. Also, there are optimistic crypto predictions out as well. Check out the latest reports here.
The latest news in the crypto space
Amid the ongoing crypto winter, digital asset management giant Grayscale’s decentralized finance (DeFi) investment product has started trading on the financial market OTC Markets.
According to the online publication the Daily Hodl, Grayscale DeFi Fund currently gives customers exposure to the decentralized exchanges Uniswap (UNI) and Curve (CRV), the decentralized lending platforms Aave (AAVE) and Compound (COMP), and Maker (MKR), a governance token that supports the Ethereum (ETH)-based stablecoin DAI.
Rayhaneh Sharif-Askary, Grayscale’s head of investor solutions, stated the following:
“We believe that investors deserve access to the digital currency ecosystem through secure products, and are excited to now offer them exposure to the evolving decentralized finance sub-sector through a publicly-quoted security.”
The fund’s weighted basket at time of writing is 69.06% UNI, 12.84% AAVE, 8.84% MKR, 5.03% CRV and 4.23% COMP.
The same online publication that we mentioned above notes that the product, which tracks the CoinDesk DeFi Select Index (DFX) and is rebalanced quarterly, trades under DEFG.
It’s Grayscale’s 15th investment product trading on OTC Markets, according to a new announcement from the digital asset manager.
Bitcoin optimistic prediction
The popular crypto trader who correctly called the collapse of Bitcoin in 2018 is predicting a decent surge for BTC to the end of the year.
In a new strategy session, Tone Vays said that Bitcoin is trading within a narrow horizontal channel after rallying from its current bear market low around $15,700.
In order to learn more details about this, make sure to check out our previous article.
Stay tuned for more news from the crypto space.