Grayscale To Sell 3 Million PoW Tokens Due To Lack Of Liquidity

Crypto Live News

Written by: Qadir AK

Written by Qadir AKQadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Sep 17, 2022

Greyscale investment, a digital asset manager, announced its massive plan to sell all 3.1 million Ethereum proof-of-work tokens which were received by Grayscale Ethereum Trust and Grayscale Digital Large Cap Fund after Ethereum was updated to proof-of-stake from proof-of-work. 

The fund and the trust, both will transfer the token rights to Greyscale Investments, which will further sell them within 180 days. Profits will be allocated to all the shareholders. According to Greyscale, the lack of liquidity in the ETHPoW market is the reason behind this decision to sell. Because of the token’s incredible volatility, it is difficult to predict how much the firm will get out of the sale. 

Read More

Leave a Reply

Your email address will not be published.

You May Also Like

: Data from 2.1 million students in 10,000 schools reveal the impact of remote learning: lower academic achievement and reduced socio-economic mobility

How has remote learning impacted children’s academic achievement? Using testing data from…

Beware! Scammers hacked an Indian Website with a Fake Azuki NFT Airdrop

You are here: Home / News / Crypto Scam / Beware! Scammers…

Using analytics to optimize marketing spend and drive sales

“Our No. 1 goal is to understand the impact that our marketing…

Aggregation is key to the new Martech Map

Back in 2015, there was a lot of talk about the “Frankenstack”…