Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Grayscale Ethereum Trust Buys Additional 10,000 ETH

Published 03/18/2021, 06:08 AM
Updated 03/18/2021, 06:30 AM
Grayscale Ethereum Trust Buys Additional 10,000 ETH

Grayscale Ethereum Trust Buys Additional 10,000 ETH

  • Grayscale Ethereum Trust has purchased an additional 10,000 ETH.
  • Chinese firm Meitu bought ETH and BTC worth $28.4 and $21.4 million respectively.

Grayscale Ethereum Trust has bought an additional 10,000 ETH. This is in addition to the company’s previous announcement of buying 25,000 ETH worth $37.6 million.

Amid Grayscale ETH purchase, Chinese publicly-traded beauty app firm Meitu also bought an additional $28.4 million in ETH. Notably, Meitu did not buy only ETH; the company also bought about $21.6 million in Bitcoin.

According to Meitu, the $28.4 ETH purchased is meant to play a major role in the crypto industry. The company reportedly said that the ETH acquisition will help them to contribute heavily to become fully involved in the blockchain industry from now on.

Also, Meitu notably said that the ETH will also function as a transaction expenditure reserve for decentralized applications (DApps).

In addition, the $21.6 million Bitcoin will be used as part of the firm’s Miracle Vision treasury, according to the company. Last week, Meitu also bought BTC and ETH. Specifically, the firm purchased 15,000 units of ETH and 379.1214269 units of BTC respectively.

At the time of writing, Ethereum price is at $1,832, with a 24h trading volume of $31,752, according to CoinGecko.

This article first published on coinquora.com

Continue reading on CoinQuora

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.