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Trading App Giant Robinhood Lists Bitcoin (BTC) and Ethereum (ETH) Stocks in Grayscale

US trading giant Robinhood is adding two crypto-related products to its lineup for retail investors.

Investment asset manager Greyscale has announced that the company’s traditional investment vehicles for Bitcoin (BTC) and Ethereum (ETH) are launching on the Robinhood trading app.

There are two new ways to access crypto on @RobinhoodApp. You can start trading $GBTC and $ETHE today.

— Shades of Gray (@Grayscale) May 6, 2022

The Grayscale Bitcoin Trust (GBTC) digital currency investment product was originally called the Bitcoin Investment Trust, created in September 2013, and offers institutional investors exposure to Bitcoin without the need to purchase or store it in person. Grayscale BTC Trust currently has $23.2 billion in assets under management (AUM).

Meanwhile, the Grayscale Ethereum Trust (ETHE) was founded in December 2017 and now has $8.4 billion in AUM.

Last October, Grayscale announced its intention to convert its Bitcoin fund into an exchange-traded fund (ETF), with the company’s global head of ETFs Dave LaValle saying:

“GBTC demonstrates that there is strong investor demand for physically backed Bitcoin investment vehicles.”

In November, filings with the US Securities and Exchange Commission (SEC) revealed that banking giant Morgan Stanley significantly increased its holdings in GBTC.

In January, Robinhood CEO Vlad Tenev mentioned the platform’s goal of adding crypto-related products to its platform.

At the time of writing, Robinhood quotes GBTC price down 1.08% and trading at $24.75, while ETHE is in the red down 1.6% with a value of 19.76 $.

Bitcoin itself continues the sell-off that began earlier Thursday when it was priced above $39,000, down 2.22% on the day and changing hands at $36,189 at the time of writing.

Ethereum is also struggling, falling sharply from Thursday’s high of $2,937 and currently priced at $2,711.

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Coinbase Product Manager Predicts Big Advances For Ethereum In 2022

Ethereum is one of the prominent blockchains in the cryptocurrency industry that established smart contract technology. This has helped cement decentralized finance and checkmate third-party interference in cryptocurrency transactions. But in the past, their main challenge and drawback was related to scalability and speed in executing transactions.

As the months and years go by, Ethereum is making great progress in fixing scalability issues. This led to the deployment of the layer two version of the blockchain.

Related Article | Is Norton 360 Mining Ethereum on your computer? If so, they will take a 15% cut

As the new year begins, many people have shared their predictions and expectations for the cryptocurrency industry in 2022. Some of these people include investors, analysts, and industry leaders. Among the many comments is the latest post from Surojit Chatterjee, Chief Product Officer at Coinbase.

Chatterjee predicts big strides in Ethereum’s scalability. Sharing his predictions on Tuesday via a company blog post, the CPO expressed his confidence in Ethereum. He mentioned that the scalability of the blockchain would put it ahead of Web3 and the crypto economy.

Ethereum struggles to resurface | Source: ETHUSD on

Furthermore, he was confident that there would be an improvement in the scalability of Ethereum. In addition, he indicated the possible traction for alternative layer one networks.

Also in his post, the CPO commented on the emergence of new top-tier networks based on social media and gaming. He explained that moving bridges from layer one to layer two will drive a huge improvement in scalability. Furthermore, he anticipated a situation where the industry is in a desperate search to improve the speed and usefulness of L1 and L1-L2 cross-bridges.

Benefits of Cross-Bridges for Ethereum Scalability

Using these bridges will facilitate the easy transfer of tokens from a layer one (L1) network like Ethereum to a layer two (L2) network like Arbitrum. In addition, it allows reverse transactions between bridges.

For companies like Matter Labs, 2021 saw their tremendous breakthrough. The company developed and implemented its level two platform based on the zkSync rollup package to achieve its great feat.

Overall, 2021 was a year of massive expansion for the tier two ecosystem, as all major platforms saw an increase in adoption. Tier two ecosystem tracker L2beat reports a nearly 11,000% increase in the total amount blocked last year. This brought the value in 2021 to $5.5 billion from $50 million in January 2021.

As for scaling technologies, Chatterjee chose zk-Rollups citing its attractiveness to users and investors. He explained that Zero-knowledge scalability compiles transaction data in batches. This will allow efficiency in its processing in the Ethereum L1.

Additionally, Coinbase CPO predicts the emergence of more privacy-focused apps. However, he mentioned that this would generate more attention from regulators, as there are restrictions imposed through KYC and Anti-Money Laundering (AML).

Related Article | More green energy: Cryptocurrency mining saves a hydroelectric plant in Costa Rica

Chatterjee has other predictions, including increased industry regulations, safer DeFi, and more institutional participation in DeFi. Others are moves to Web3 by Web2 companies, more brand equity in metaverses, and non-fungible tokens (NFTs).

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In a new announcement, introduces IDEX (IDEX), formerly AuroraDAO, to operate on the company’s app.

IDEX is a decentralized multi-blockchain exchange that offers a non-custodial solution for trading digital assets. The IDEX token is used to secure the network and encourage platform adoption.

According to the press release,

“IDEX is the first hybrid liquidity DEX that combines the best of centralized and decentralized exchanges, with the performance and features of a traditional order book and the security and liquidity of an automated market maker (AMM).

Users benefit from not having to pay additional network costs to place or cancel orders. Placements are also processed in real time, allowing for advanced trading.

IDEX is an Ethereum token that powers the decentralized exchange IDEX. IDEX holders can stake tokens to help protect the protocol and earn rewards.”

While many new coin listings tend to trigger rallies, IDEX price action hardly responds to the news.

IDEX is currently trading at $0.20, down 3.73% in the last 24 hours.

The hybrid decentralized exchange is the second new token that has listed this year after merging with the Oasis Network (ROSE) last week.

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Coinbase Launches Five Ethereum-Based Altcoins In Cryptocurrency Trading Ecosystem

Coinbase, the US-based digital asset exchange, is expanding support for five Ethereum-based altcoins in its trading ecosystem.

In a new blog post, Coinbase announces that Alchemix (ALCX), the government token of the lending platform backed by Alchemix Finance, can now be purchased on and the exchange’s mobile apps.

The ALCX is trading at $ 441.61 at the time of writing, down 3.18% for the day.

ENS is a government token for the Ethereum name service, which allows people to create non-fungible tokens (NFTs) that can be linked to Ethereum addresses and web domains.

ENS is currently trading at $ 48.82. That’s down 8.71% for the day and more than 50% from the all-time high of $ 88.64 which reached last week after appearing on Binance.

Additionally, Coinbase is expanding support for GALA, the native token of Gala Games, the player-controlled blockchain gaming platform. Altcoin rose more than 100%, from a low of $ 0.089 on November 15 to its current price of $ 0.20.

GYEN is an Ethereum-powered stablecoin indexed to the Japanese Yen. Although GYEN is expected to remain pegged to the Japanese Yen, it managed to climb 470% to $ 0.05 after being listed on Coinbase.

Finally, the native POWR token from point-to-point energy trading company Power Ledger is now available on all Coinbase trading platforms. At the time of this writing, altcoin was down 2.07% to $ 0.70.

Coinbase Pro listed all tokens except GYEN with stablecoin mStable USD (MUSD) earlier this week.

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Ethereum: 7,000% increase until 2022 if history repeats itself

Bitcoin’s jump to $55.3K filled the market with euphoria, partially eclipsing Ethereum’s 5% gains in two days. As the main altcoin moved more slowly to the north, the expectation of a slow and steady rally grew in the market.

Ethereum, at the time of printing, was trading at $3,540, with daily gains of 1.23% versus gains of 5.73% for BTC. However, there were signs that history was repeating itself. So it seemed likely that ETH’s price would skyrocket on the charts.
Ethereum Fractal May Raise Prices

Fractals are useful indicators to identify turning points in the market. They are often used to identify the direction the price will move. Interestingly, Ethereum saw a fractal indicator in 2017 that included four technical patterns that increased the price of ETH by 7,000%.

The pseudonym analyst Jaydee_757 first saw the Etherum fractal and pointed out that the same set of bullish indicators flashed again in 2021.

In 2017, a bullish auction price structure pushed ETH’s monthly RSI into an extreme overbought zone above 94. This triggered a short-term sideways consolidation, lowered the RSI reading and, in turn, a correction in the Stochastic RSI.

However, in late 2017, the Stochastic RSI passed and became bullish with its blue line crossing the saffron line. This crossing between the %K and %D lines further reinforced the bullish search, giving way to 5x gains.

By January 2018, the value of altcoin had risen another 500%, closing above $1,200. It coincided with the RSI, forming a double top.

In particular, Ethereum seemed to reflect the same fractal movements as 2017 when it entered the fourth quarter of 2021. A strange similarity can be seen in the 2017 and 2021 RSI structures, as they both experienced a double top and are oversold in the market. . monthly chart.

After the bullish hammer blow, the price of ETH increased 70 times in just six months. In the longer term, the alt rose 3,400% to hit $4,300, 16 months after painting a bullish RSI crossover.
This is what the metrics tell us

Ethereum’s NVT index reached its highest value since February 2020 on October 4th. These high NVT values ​​indicate that the network value exceeded the value transferred to the network.

While this often involves a price bubble, in the case of ETH it can represent legitimate stages of growth.