Investment giant Grayscale said in a blog post shared on Twitter today that it is evaluating 3 altcoin projects. Altcoins under review for inclusion in the basket: Cronos (CRO), ApeCoin (APE) and Kyber Network Crystal (KNC).
Grayscale is preparing these 3 altcoin projects for its basket
Grayscale, one of the world’s largest crypto investment companies, announced that it can add 3 more altcoins to its basket. These altcoin projects include an exchange token, a metaverse coin, and a DeFi altcoin. In an announcement on Twitter on July 13, Grayscale said:
We are constantly evaluating the cryptocurrency market. Before committing to adding an altcoin to one of our funds, we would like to note the areas we are investigating. This week, we’re adding APE, CRO, and KNC to our list of altcoins under review.
With the above announcement, Cronos (CRO), ApeCoin (APE), and Kyber Network Crystal (KNC) have been added to Grayscale’s “assets under consideration” list. Due to a lengthy filtering phase, the list of altcoins the investment giant is considering is quite crowded.
Grayscale made 3 new additions to the list of assets under consideration in the latest update in July 2022. The company’s current portfolio includes well-established projects such as AAVE, AMP, ADA and LINK. The full list is as follows:
Grayscale’s list: Cronos (CRO), ApeCoin (APE) and Kyber Network Crystal (KNC)
- First, Cronos (CRO) is the native cryptocurrency of Crypto.com exchange and Cronos Chain. Cronos Chain is one of the products in Crypto.com’s line of solutions designed to speed up cryptocurrency transactions. The 22nd largest coin by market cap, CRO is currently trading at $0.1108. Meanwhile, it registered ATH at $0.9698 in November of last year.
- ApeCoin (APE) is a decentralized project inspired by Yuga Labs’ Bored Ape Yacht Club project. APE has metaverse and Web3 token features. The Ethereum-based token derives most of its value from the community. ApeCoin joined the market in March of last year. Although it is a newer project, it is already on Grayscale’s evaluation list. APE is the 37th largest cryptocurrency by market cap. It is currently trading 89.05% below the ATH price of $39.40.
- Kyber Network Crystal (KNC) is a liquidity protocols hub that aggregates liquidity for DApps. The main purpose of Kyber Network is to provide DeFi DApps, DEXs and other users easy access to liquidity pools that provide the best rates. KNC price is trading at $1.22 at the time of writing. It peaked at $5.72 in April of last year.
Meanwhile, Grayscale Bitcoin Trust (GBTC) is the world’s largest publicly traded Bitcoin fund with over 700,000 investors and $24.1 billion in assets. As Kriptokoin.com, we have prepared a detailed article about Grayscale Bitcoin Trust.
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