Five Altcoins on the Rise with Grayscale News

Grayscale, the world’s largest digital asset manager; Applied to establish funds indexed Aave (AAVE), Polkadot (DOT), Cosmos (ATOM), Monero (XMR) and Cardano (ADA). These five altcoins started to gain in value after the Grayscale news.

In the application made on January 27, it was announced that special funds could be created for AAVE, DOT, ATOM, XMR and ADA. Application filed by Delaware Trust Company on behalf of Grayscale.

Five altcoins start to gain value

Grayscale applied for funding for ChainLink (LINK), Basic Attention Token (BAT), Decentraland (MANA), Livepeer and Tezos (XTZ) on January 22. These five altcoins gained over 10% with the Grayscale news.

A similar situation occurred for the AAVE, DOT, ATOM, XMR and ADA five within a week. Within an hour of learning the Grayscale news, according to CoinGecko data:

  • Aave (AAVE): 7.1%
  • Polkadot (DOT): 9.1%
  • Cosmos (ATOM): 14.1%
  • Monero (XMR): 4.2%
  • Cardano (ADA): up 6.7%.

This application made by Grayscale does not necessarily mean that funds will be opened for these altcoins. Grayscale explained that these applications were made for preparatory purposes.

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