The remarkable success of the BlackRock Bitcoin ETF is attracting asset inflows into the crypto market, encouraging growth of new projects.
BlackRock Bitcoin ETF
BlackRock’s Bitcoin ETF, the iShares Bitcoin Trust (IBIT), is approaching $20 Billion in assets under management. This already puts it in the top 3% of Bitcoin ETFs, surpassing veterans like the VanEck Semiconductor ETF (SMH), iShares MSCI Emerging Markets ETF (EEM), and iShares MSCI Japan ETF (EWJ). IBIT broke the record previously held by gold-focused fund GLD by surpassing the $10 billion milestone just seven weeks after its launch in January. The success of the BlackRock Bitcoin ETF has also caused a shift in perception towards Bitcoin (BTC) among major players in finance, with Citadel Securities, UBS, and Goldman Sachs joining as authorized participants (APs).
Octoblock: A New DeFi Project Ready To Thrive In The Crypto Market
Octoblock has attracted significant attention due to its unique approach to decentralized finance (DeFi). The protocol seeks to build an ecosystem with various innovative features and services that benefit not just its community but the society at large.
A double-strategy revenue-generation system known as the Nautilus Trove will handle the protocol’s asset inflows, allocating them to DeFi strategies and other yield-bearing investments. Half of the protocol’s profits will be distributed to OCTO holders, with 45% airdropped based on their percentage holdings and 5% allocated randomly through sweepstakes.
Octoblock’s cFyF technology (Crowd Funded Yield Farming) will enable DeFi users to combine their resources in communal pools and collectively participate in yield farming activities. Due to their aggregated capital, the cFyF participants will be able to access higher-yield farming opportunities, leading to increased returns. The cFyF participants will also get a chance to exert their influence in the DeFi ecosystem through their governance rights.
Additionally, the Tentacle Trust, a charitable account integrated into Octoblock’s ecosystem, will help fund organizations focused on marine conservation. The contributions for the trust will be sourced from the Nautilus Trove, and OCTO holders will vote monthly to select the beneficiaries.
Furthermore, Octoblock will launch Coral Cove, a cross-chain platform with high security, low fees, and enhanced transaction routes. The platform will also combine asset swapping and bridging capabilities, simplifying asset management across blockchains by eliminating the need for multiple services or platforms.
The Octoblock Initial Coin Offering (ICO) commenced its third phase on April 10, selling OCTO tokens at $0.037. Investors at this level get a 13% bonus and a chance to win a full-option Tesla courtesy of Octoblock.
Conclusion
As BlackRock’s ETF continues to attract significant asset inflows, it signals a growing interest that could provide a solid ground for projects like Octoblock (OCTO) to thrive and contribute to the evolving crypto landscape.
For more information on Octoblock:
Website: https://octoblock.io/
Buy OCTO: https://reef.octoblock.io/register
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