Grayscale Launches Bittensor And Sui Trusts
Grayscale Investments, a prominent crypto asset manager and ETF issuer, recently introduced two new offerings. The company unveiled the Grayscale Bittensor Trust and the Grayscale Sui Trust, catering to the crypto investor’s growing interest in innovative tokens.
- Grayscale Bittensor Trust dedicated to TAO, supporting the Bittensor Protocol for AI
- Grayscale Sui Trust focuses on SUI, powering the Sui protocol for decentralized applications
Rayhaneh Sharif-Askary, Grayscale’s Head of Product & Research, expressed excitement about the new Trusts, highlighting the crucial roles of Bittensor and Sui in the evolving crypto ecosystem. The company aims to provide investors with access to cutting-edge tokens through these new offerings.
Price Analysis of SUI & TAO
Post-announcement, SUI and TAO tokens displayed varying price movements amidst the recent market downturn. The SUI token plummeted to a 9-month low of $0.4636, gradually declining from its peak of $2.17 in March.
- SUI has rebounded to $0.6166 after a 3% increase in the last 24 hours
- TAO surged to $253 from a low of $164, showing signs of recovery
Investors eye resistance levels at $0.6966 for SUI and $300 for TAO to potentially reach their previous highs in the market.
Hot Take: Crypto Investment Expansion
As crypto investment options continue to expand, Grayscale’s introduction of the Bittensor and Sui Trusts offers investors unique opportunities to engage with emerging token projects supporting AI and decentralized applications. Stay informed about the evolving crypto landscape to make well-informed investment decisions.
Sources:
– https://www.globenewswire.com/news-release/2024/08/07/2925970/0/en/Grayscale-Investments-Launches-Two-New-Product-Offerings-Grayscale-Bittensor-Trust-and-Grayscale-Sui-Trust.html
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