Grayscale’s GBTC Fund Trades At Largest Discount Ever – December 20

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $46,401

Bitcoin price found some short-term support around $45,500 over the weekend, currently holding strong within the $46,000 range.

Top-20 altcoins have had mixed performance over the last 24 hours of trading, as Ethereum falls 2%, Terra rises 3% and Solana drops 5%.

Top Stories for December 20, 2021 πŸ”₯

πŸ‘‰ Grayscale’s GBTC Fund Trades At Largest Discount Ever

Grayscale’s Bitcoin Trust, also known as GBTC, is currently trading at its largest-ever discount – almost 23% below the market price of its underlying assets.

Despite the trust being the largest existing product for institutional Bitcoin exposure, the discount appears to point to relatively low demand for GBTC.

Grayscale is seeking to convert the GBTC funds to a spot price exchange traded-fund (ETF) next year.

πŸ‘‰ Polkadot Officially Launches Its First 5 Parachains

The Polkadot network has officially launched its first five parachains: Acala, Astar, Clover, Moonbeam, and Parallel Finance.

Parachain are earned through an auction process, in this case with around $2.4 billion worth of DOT tokens pledged in total across the five projects. Each has its very own use case and plugs into Polkadot’s relay chain.

πŸ‘‰ JPMorgan Partners With Siemens For Blockchain Payments System

JPMorgan Chase is developing a blockchain-based payments system for German industrial conglomerate, Siemens.

The system will use JPMorgan’s blockchain unit Onyx, to build a system that can handle automatic payments between Siemen’s own accounts.