Grayscale Investments announced a new Trust Fund today allowing traders to invest in five different cryptocurrencies backed trust fund that include chainlink, Filecoin, LivePeer, BAT and Decentraland. The listing 0f these cryptocurrencies by the Grayscale Investments had an immediate effect on their respective price as most of the listed altcoins registered nearly double digita gains over the past 24-hours.
The biggest gainer among the five turned out to be LivePeer (LPT) which reached its new all-time-high of $13.45 with over 97% gains in the past 24 hours. LivePeer is a decentralized streaming network largely unkown prior to its Grayscale listing.
The second biggest gainer was Basic Attention Token ($BAT) with over 44% gains in the past 24-hours reaching its ATH as well with $1.118. BAT is the native token for Brave decentralized browser which reward its users in BAT for using the platform.
Filecoin marked the third-largest gains among the with 5 altcoins with 35% gains. Filecoin started out as a stablecoin for its native blockchain whose primary use case is decentralized data storage. However, quite similar YFI token which was supposed to be a valueless DEfi swap toklen, Filecoin rose to an ATH of over $400.
Link registered a 9% gain reaching $30.35 breaking past the key resistance of $30 after spening the past few day around $27. Chainlink was one of the largest gainer in 2020 even before the main bull run began. Link proponents believe the altcoin is highly under valued and a few hundred dollars price won’t be un achievable in the coming months.
Decentraland, the native token of a 3D world in which users utilize two tokens to interact with the platform and purchase land, goods and services in-world. It gained 3% for the day and had overcome all its losses post the Grayscale announcement.