Grayscale Investments, a giant in digital assets has decided to add Solana and Uniswap to its large cap funds.
As stated in a press release, as part of a quarterly rebalancing of funds, the company sold digital assets in order to accumulate SOL and UNI. The crypto asset manager is the largest ranked company in this field containing more than $41.50 billion worth of assets in management.
The purchases were huge since currently 3.24% of the funds belong to Solana as it is the fourth largest sum of the funds. Uniswap stands in the fifth place with 1.06% share of the funds.
Other assets owned by Grayscale are Bitcoin 62.19%, Ethereum 26.8%, ADA 5.11%, Chainlink 0.82%, Litecoin 0.77% and Bitcoin Cash 73%.
Grayscale and Solana
Undoubtedly, Solana managed to steal the spotlight in the past few months. The smart contracts platform has had monstrous inflows lately. As a serious Ethereum competitor, institutional investors favored Solana over other networks for their transactions. Furthermore, the Solana network proved very successful in the NFT scene. Naturally, with the rise in the ranks, the appeal grew higher and higher. It was only a matter of time before big players such as Grayscale joined the party.
The Solana network faced some technical difficulties last month due to busy network. As a result, the network was out for a few hours. However, it turned out that the network was not as decentralized as previously thought. It seems that the incident did not damage Solana’s reputation as it came to be a slight hiccup. The inflows continued on steady as ever.
Serious Altcoins on the Rise
Solana was the star of the show for the past few months with the amazing bullish runs. However, there were others who performed just as well. Considering the potential, Luna, Avalanche, Cosmos and ATOM are legitimate options that are very likely to join the list.
The cryptocurrency market, rewards utility more than anything else. The decentralized exchange Uniswap and the smart contracts platform Solana were both very successful at that. After all, the institutional investors can and will bring large sums of money flowing into the system. In that regard, they will look for efficient and creative platforms that will make their lives easier.
With that in mind, we could clearly see numerous altcoins that do possess the required capabilities. These talented altcoins are great choices for making investments upon.
HiExchange will soon add new a series of new altcoins. Solana, Luna and Uniswap will sure be on that list. You will be able to purchase or sell them on HiExchange with the best rates possible. We are on the top ranked exchanges list on Bestchange every single day. Our 24/7 customer support, automated algorithm and respect for anonymity ensures that our customers have a delightful experience. Make sure you check our blog on a daily basis as well as on social media to stay up to date with our latest announcements, Opinion articles, news and technical analysis.