Grayscale invested $ 28.9 million in Litecoin in a month

by in Cryptocurrency News


Over the past 30 days, Grayscale has acquired 178,691 Litecoin (LTC).

The financial giant invested $ 28.9 million in the purchase of such a volume of cryptocurrency, given the LTC rate of $ 162.

Analysts found that Grayscale was accumulating Litecoin in parallel with increasing capital investment in Bitcoin and Ethereum trusts. At the moment, under the control of the giant's LTC trust, coins are totaling up to $ 255.6 million.

Note that the largest remains the company's bitcoin trust, by the end of last month it accumulated $ 30.724 billion. The total amount of funds in the cryptocurrency controlled by Grayscale on February 27 increased to $ 36.5 billion.

Trending: Cardano Completed Its Vasil Hard Fork With Success

During the reporting period, Grayscale purchased 7,540 bitcoins and 239,972 ether for its trusts.

Litecoin on Monday, March 1, rose in price to $ 168 (+ 6.26%). The coin is located on the eighth line in the ranking of the largest cryptocurrencies.

Recently renowned rock musician and one of the founders of the legendary band Kiss Gene Simmons admitted on Twitter that he has already invested in Litecoin. However, he did not name the number of funds invested in LTC.

Trending: MetaMask announces integration with Apple Pay

It is known that the same musician previously invested $ 300,000 in the ether and Cardano.