Grayscale Halts Inflows To GBTC While At 15% Discount – March 11

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $55,620

Bitcoin price touched as high as $56,497 over the last day of trading, as price slips back into the $55,000 range.

Top-20 altcoins have taken a hit over the last 24 hours as Ethereum drops 3%, XRP falls 4% and THETA stands out with a 22% rally.

Top Stories for March 11, 2021 πŸ”₯

πŸ‘‰ Grayscale Halts Inflows To GBTC While At 15% Discount

Digital assets management giant Grayscale Investments has halted new investments into its Grayscale Bitcoin Trust (GTBC), as the fund trades 15% lower than the value of the Bitcoin it holds.

The discount has been blamed on the rise of several new Bitcoin trusts and Canadian bitcoin exchange-traded funds (ETFs).

Parent company Digital Currency Group announced today that it would buy up to $250 million worth of GBTC shares.

πŸ‘‰ Ethereum Miners Plan Hash Power Protest Of EIP-1559

A group of Ethereum miners are planning a hash-power protest against the implementation of Ethereum Improvement Proposal 1559 (known as EIP-1559).

The proposal seeks to replace the current bidding-based fee market with a fixed price mechanism, which also burns some of the Ether (ETH) supply.

In protest, the group of miners plan to direct over 51% of the network’s hash power to a mining pool opposing EIP-1559, for 51 hours on April 1.

πŸ‘‰ Chinese “Twitter” Suspends Major Crypto Exchange Accounts

Weibo, the Chinese equivalent of Twitter, has suspended the accounts of major cryptocurrency exchanges including Huobi, Binance, OKEx and MXC.

The platform has not offered clear explanations for the suspensions, however mentioned that the accounts have accounts have violated laws and its community rules.