Category: Financial Markets
BetaShares Crypto Innovators (CRYP) has broken trading records on its debut. After opening at $11.23 per unit the newly minted ETF finished the day at $11.19 per unit having climbed 11.19 per cent.
CRYP saw more than $8 million change hands in less than 15 minutes. By midday, trading volumes had soared to $24.5 million.
The fund doesn’t directly invest in cryptocurrencies or digital assets, it invests in companies involved in those sectors, tracking the Bitwise Crypto Industry Innovators Index. CRYP’s index is intended to cover the complete range of the crypto ecosystem by offering exposure to pure-play crypto enterprises, companies with at least 75 percent of their balance sheets invested in crypto-assets, and diversified corporations with crypto-focused business lines. Its largest holding is in Silvergate Capital, followed by Marathon Digital Holdings and Galaxy Digital, which together represent just over one-third of CRYP’s total portfolio.
Cryptocurrency exchange platform Coinbase, bitcoin mining company Riot Blockchain, and business analytics provider Microstrategy are among CRYP’s holdings.
BetaShares said its portfolio has a year-to-date performance of nearly 133 per cent, with monthly performance of 28 per cent. In its information pack, however, the company said investment in CRYP should be considered “very high risk.”
General Advice Warning
Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.
Shortly after the World Health Organization (WHO) named Omicron as the new variant of concern for the recent mutation first found in Africa, investors fled to the new meme cryptocurrency Omicron (OMIC).
The Omicron cryptocurrency gained 231% in the past 24 hours and reached an intraday’s high at $689. Despite the rising popularity of the coronavirus-themed coin, the market capitalization of OMIC remains unknown and only $496,407 was traded in the past day.
The Omicron token powers a decentralized reserve currency protocol on the Arbitrum Network, backed by a basket of assets, including USD coin (USDC) and liquidity provider tokens tied to MIM (Magic Internet Money).
The token was created in early November as a fork of OlympusDAO on the Arbitrum network and its protocol relies on stakers and bonders to ensure a return over a specified period of time.
The Omicron token could continue surging if investors contribute to its yield farm by depositing funds within its protocols. Roughly $700,00 has been deposited within its protocols, which led to annual yields of around 70,000% for stakers unless the developers back out of the project.
According to the crypto project’s official documentation, the digital asset was created a few weeks before the World Health Organization named the variant Omicron. The project’s initial announcements do not mention anything about the coronavirus.
Omicron appears to be only available for purchase through decentralized exchange SushiSwap. Centralized exchanges have not started to support trading of the OMIC token yet.
(Source: FXStreet.com)
General Advice Warning
Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.
