Bitcoin (BTC) continued its journey towards $25,000 on Aug. 11 amid positive news that the world’s largest asset manager, Blackrock, had launched a BTC product. On August 10, bitcoin rose above the $24k mark after the U.S. consumer-price inflation data for July was released. The core CPI was unchanged with an increase of 5.9%, compared with the expected 6.1% growth, a relief for markets.
On Thursday, altcoins were also up, with Ankr (ANKR, +45.76%) , Ravencoin (RVN, +11%), Golem (GLM, +15.77%), Bitcoin standard hashrate token(BTCST, +23.73%), Injective (INJ, +14.31%), StormX (STMX, +11.42%), and Energy Web Token (EWT, +33.74%) posting significant gains.
Ankr, decentralized infrastructure, and cross-chain staking DeFi platform that aims to make Web3 accessible for everyone was one of the top gainers in the crypto market, posting over 50% gains. This consequently led to its re-entry into the top 100 cryptocurrencies by market capitalization.
Ankr’s sudden spike was buoyed in part by a major network release, Ankr 2.0, which includes Ankr token staking. Explaining the release on Twitter, it says, “We are more than excited to introduce you to our most important release of 2022.” Ankr 2.0. Including $ANKR Token staking’’. The release includes the Decentralized RPC, which is currently live, Ankr staking, call for node providers; and Ankr DAO, which are expected to launch soon.
Ankr Network has already welcomed other independent node providers aboard, such as Harmony Protocol, Fantom Foundation, IoTex, and others.The Binance Labs also announced a strategic investment in ANKR, leading up to the price gains.
The largest asset manager in the world, BlackRock, is making a significant foray into the cryptocurrency markets by introducing its first-ever investment product directly in Bitcoin.
According to a statement released by New York-based BlackRock on Thursday, the new private Bitcoin trust aims to monitor the price of the largest cryptocurrency and respond to demand from huge institutional clients looking for exposure to the commodity even after its price fell this year.
BlackRock, which oversees $8.5 trillion, has made two significant moves into digital assets in the past week. Last week, BlackRock announced a prominent collaboration with cryptocurrency exchange Coinbase to enable institutional traders to manage their Bitcoin holdings alongside traditional portfolio assets like stocks and bonds.
The Bitcoin Trust is a change for BlackRock Chief Executive Officer, Larry Fink from four years ago when he claimed he hadn’t heard from any clients looking for exposure to cryptocurrencies. Fink stated in March of this year that the business was researching the rising significance of digital assets and stablecoins as well as how to use them to benefit clients.
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