Blog: Filecoin (FIL) Enters Top-Ten Crypto List

Goldman Sachs PrePares for Bitcoin Offering to Wealthy Clients

The overall cryptocurrency market continues with its positive momentum northwards with total market valuations eyeing a move above $1.9 trillion. While Bitcoin (BTC) continues to consolidate around $59,000 levels, the altcoin space is showing strong movement with Filecoin (FIL) entering the top-ten crypto list with a massive 40% in the last 24-hours. 

While BTC is showing much price action at present, it continues to garner the attention of institutions. Bitcoin has undoubtedly emerged as the best crypto to invest in with Wall Street banking giants Goldman Sachs is considering offering Bitcoin and crypto investment options to its wealth management clients. 

On Wednesday, March 31st, the banking giant appraised CNBC about it. During her interview with the media house, Mary Rich, who was recently named global head of digital assets for Goldman’s private wealth management division said

″We are working closely with teams across the firm to explore ways to offer thoughtful and appropriate access to the ecosystem for private wealth clients, and that is something we expect to offer in the near term”. 

The Wall Street banking giant is considering providing a “full spectrum” of investment options in Bitcoin and other cryptocurrencies. Rich said that this could be either through physical Bitcoin offerings, derivatives, or other traditional investment vehicles. 

Rich also added that Goldman arrived at this decision considering high demand from their clients amid the current macro backdrop. Currently, Goldman Sachs is in the process of securing regulatory approval from the U.S. SEC and NYDFS. “We’re still in the very nascent stages of this ecosystem; no one knows exactly how it will evolve or what shape it will be,” Rich said. “But I think it’s fairly safe to expect it will be part of our future.” 

In other news, the world’s biggest asset manager BlackRock has revealed in its latest SEC filing that it has started to dabble into Bitcoin Futures. BlackRock announced its entry into the CME Bitcoin Futures in January 2021 and exited during the March expiry last week. 

The BlackRock Global Allocation Fund was holding 37 CME Bitcoin Futures contracts and has roughly made nearly $360K. 

Altcoin News: Filecoin Leads the Altcoin Market Rally Entering Top-Ten Crypto List

Amid Bitcoin (BTC) consolidation, the blockchain-based decentralized storage protocol Filecoin has emerged as a clear winner in the altcoin space. The Filecoin (FIL) price has shot up 40% today hitting its all-time high above to become the ninth-largest cryptocurrency by market cap. 

At press time, each FIL coin is trading 44% up at $223 with a market of $14.11 billion. Filecoin has gained 150% over the last week and nearly 900% year-to-date to touch this new milestone. Interestingly, Filecoin has garnered massive interest in China’s miner community which is making heavy investments to mine the FIL cryptocurrency. With its current move, Filecoin has surpassed long-time giants like Litecoin (LTC) and Chainlink (LINK) moving up the charts. 

Besides, other top-ten altcoins have also registered solid moves today. Ethereum (ETH) is up 6% moving past $1900 levels and eyeing its next move above $2000. The third-largest cryptocurrency Binance Coin has also gained above 6% moving past $300 levels. 

Polkadot (DOT) cryptocurrency has surged 11% in a bullish swing hitting its all-time high of $39.75. However, the Polkadot crypto price faces key resistance at $40 on the technical charts at this stage. 

Chainlink (LINK) cryptocurrency is another such altcoin registering solid gains today. At press time, the Chainlink (LINK) coin is trading at $29.90 with a market cap of $12.4 billion. As per on-chain data provider Santiment, Chainlink has seen good accumulation over the last week by mid and large holders holding 100-100K LINK coins. 

Chainlink-LINK-Price-Accumulation-Zone Source:Chainlink-LINK-Price-Accumulation-Zone (Courtesy:Santiment)

NFT News: Enjin Raises $19 Million for NFT-focused Blockchain, Dapper Labs Raise $305 Million

The NFT marketplace is hot right now and this is where most of the blockchain companies will be competing over the next few years. On Wednesday, March 31st, the Singapore-based blockchain company Enjin announced raising $19 million worth of funds. 

Enjin said that this fundraising shall be directed towards its efforts of creating Efinity, a decentralized blockchain platform exclusively focused on creating NFTs for apps, games, creators, and enterprises. The NFT-centric Efinity blockchain shall be built atop the Polkadot blockchain network. 

Maxim Blagov, CEO of Enjin said: “With Efinity, we’re bringing the NFT industry a dedicated, purpose-built blockchain that will create the advent of a globe-spanning, advanced digital asset economy—a free, open, and decentralized market where new digital worlds begin.” 

The Efinity blockchain will have its own native token called Efinity Token (EFI). 

On the other hand, Dapper Labs, the creator behind the NFT-focused Flow blockchain announced its latest $305 million fundraise taking its total valuations to $2.6 billion. Dapper Labs is the creator behind the much popular NBA Top Shots NFT marketplace of the National Basketball Association (NBA). 

Popular personalities from NBA including Michael Jordan, Alex Caruso, and Kevin Durant participated in the funding round. Dreamer VC, a venture capital outfit from Hollywood start Will Smith also participated. 

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In this article:
  • BTC
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  • $51 + 2.4%
  • BTC
  • $51230
  • $51 + 2.4%
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