Layergg, a prominent cryptocurrency analysis company, has compiled a list of potential FUDs (Fear, Uncertainty, and Doubt) that may arise in the upcoming period.
Here is the synthesized list of FUDs by the analysis company:
Grayscale is projected to sell between 10,000 to 25,000 BTC daily. According to the analysis company, the outflow of funds is not slowing down but, in fact, increasing. The total outflow of funds until now is $3.45 billion USD. Notably, FTX has sold nearly $1 billion USD of Grayscale’s GBTC since the approval of the Bitcoin ETF.
The distribution of BTC from the cryptocurrency exchange Mt.Gox is expected to take place within the next two months, with 200,000 BTC to be unlocked. In December 2023, some Mt.Gox creditors received compensation in Japanese yen through PayPal. It is noteworthy that the purchase price of Bitcoin for most Mt.Gox holders is below $1000 USD, which could impact their selling decisions.
The U.S. government currently holds about 100,000 BTC related to the Silk Road. They announced their intention to sell 50,000 Bitcoins obtained from the Silk Road in four tranches, but there have been no updates since July. However, this may continue after the ETF is deployed.
Grayscale holds $7-8 billion USD in the future Ethereum ETF fund ETHE. ETHE, similar to GBC, has been trading at a discount of up to 50% compared to the normal price until recently. This raises the possibility of the Ethereum version of the “ETF – Sell the news” phenomenon. Interestingly, FTX’s holdings of ETHE are only a quarter of GBTC.
