BIG THINGS ARE HAPPENING IN CRYPTOCURRENCY IN FEBRUARY 2021!
Ethereum futures
All right as of 2/20/21 if you're invested in cryptocurrency listen up bitcoin right now is undergoing a supply crisis Assyrian futures for the first time in history are about to launch on the CME last time this happened for bit coin multiple years ago it had major implications on the space as well as many of your top altcoin investments like this right now making news in the space today welcome back everybody to alt coin daily cryptocurrency every day my name's Austin like always check the time stamps down below and let's jump in according to our most recent data bitcoin is undergoing a supply crisis since the start of this year 211 new big goin well addresses with at least 1000 BTC or more were created however at the same time bitcoin supply on exchanges is at its lowest level in almost 2.5 years and we can literally see that there's not enough big wine to go around.
So who's buying major piece of bitcoin news bill Miller's trust to invest up to $300000000 in the big wine through grayscale speak 1 trust so think about this even though the supply of bitcoin right now on exchanges is already so low bill Miller is saying that they plan to start buying more specifically bill Miller plans to put up to 15 percent of his Miller opportunity trust which has 2.2 $5000000000 in assets in it 15 percent of that money into a big 1 and this is public record if they've made the official filing according to a filing submitted to the U. S. securities and exchange commission by the Miller opportunity trust like we said.
But now in a direct quote they may seek investment exposure to bitcoin indirectly by investing in the grayscale bitcoin trust the. Institutional dominoes are falling in a big way it was about probably over 14 days now the bill Miller put out but was it actually penned an income strategy letter calling bitcoin an emerging and undertones technology an enormous addressable market and it's now 2 weeks later he is putting his money where his mouth is in a big big way to me this is a big fundamental indicator that decline is probably gonna go up you tell me what you think down below in the comments as I get more information the minute I get more information I'll make a video I'll keep you informed. Moving forward next piece of news CME is about to open its doors to Ethereum futures trading for the first time ever as you know the CME is a traditional derivatives exchange and they did say in a Sunday morning tweet that youth futures for a first trade date the next morning of February 8 now this is a double edged sword in a sense because the reason that some people see this as such a big deal is because the launch itself represents a significant step towards the creation of financial products built around crypto currencies this is traditional finance saying Hey we want a piece of this through the rips now the other edge of the sword.
Which to me this is a net negative in the space is that these are cash settled so it'll allow people to manipulate the price without actually having to hold east check this out. Per the contract details published on the CME website the futures are cash settled and based on the CME ether dollar reference rate each monthly contract represents 50 which right now amounts roughly 270 $8000 with a minimum block trade size of 5 contracts so each contract represents 50 theory M. and you have to trade a minimum of 5 contracts at a time that's 250 theory M. per contract monthly that's a lot of money being traded and the firm's backing this slash providing liquidity for the CME for ease futures include block 5 galaxy genesis coin shares and and Y. D. I. G. so they will supposedly have the Ethereum to back it but all these are cash settled anyway for you what this means to you as a crypto investor just prepared it's now easier for traditional markets to manipulate the price now that could be good and bad you can manipulate it up just as much as you can manipulate it down but we'll see let's keep tabs on this end of the minute anything changes or we get new information.
will keep you updated okay let's get into alt coins starting with Cardano major accomplishment delighted to report that since 10 minutes ago the Cardano testnet is officially in multi asset era meaning we successfully forked in applied AT Gogan Mary native took an upgrade next stop minute by the end of this month so this is a big accomplishment this is a big reason why the Cardano price is rising this month in anticipation for this and what this means to you is assets can now start to be built on the Cardano blockchain and check this out further news for I. O. H. K. or I guess their new name is I O. G. they were formally I which K. I. O. G. now I O. G. is in the final stages of a government
Cryptocurrency
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