Digital asset management giant Grayscale hopes to launch an Avalanche (AVAX) exchange-traded fund (ETF) in the US.

The Nasdaq Stock Market submitted a proposal this week to the U.S. Securities and Exchange Commission (SEC) to list and trade shares of Grayscale Avalanche Trust, which would be entirely tied to the price of the layer-1 project’s native asset, AVAX.

Grayscale isn’t the first financial giant to file for an Avalanche ETF. Documents submitted to the state of Delaware earlier this month suggest VanEck also hopes to launch a fund tied to the Ethereum (ETH) rival.

Coinbase Custody will serve as the custodian for Grayscale’s Avalanche ETF if it’s approved. The crypto asset manager also hopes to launch funds tied to Cardano (ADA), Solana (SOL), XRP and Hedera (HBAR).

The SEC greenlit the first spot market Bitcoin (BTC) ETFs in January 2024, bringing in billions of dollars worth of inflows to the top digital asset by market cap. The regulator subsequently approved Ethereum ETFs for trading last July.

Two financial firms, Franklin Templeton and Hashdex, also launched joint BTC-ETH ETFs earlier this year.

AVAX is trading at $20.36 at time of writing. The 17th-ranked crypto asset by market cap is down nearly 8% in the past 24 hours.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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A crypto whale is booking millions of dollars in losses after making several Official Trump (TRUMP) trades.

According to blockchain tracking platform Lookonchain, the whale’s losses have ballooned to nearly $16 million on his TRUMP memecoin trades this month.

“This whale sold 743,947 TRUMP ($7.92 million) at $10.66 [Friday] – taking another $3.3 million loss on TRUMP! He only profited on his first TRUMP trade. The next three were all losses, bringing his total loss to $15.7 million.”

Earlier this month, Lookonchain noticed that the same whale at first made nearly $12 million on his initial TRUMP trade, before suffering the large losses.

“This whale made $11.82 million on his first TRUMP trade, lost $24.35 million on the second, and took another $201,000 loss on the third! Now, he’s back-spending $11.28 million to buy 777,684 TRUMP at $14.50. Will he turn a profit this time?”

Other whales are also looking at losses on their recent TRUMP trades.

One deep-pocketed investor sold TRUMP for a loss of $207,000 this week after spending $5 million worth of Circle’s stablecoin, USDC, to accumulate the memecoin right after President Donald Trump posted “I LOVE TRUMP” on his social media platform Truth Social, according to Lookonchain.

President Trump launched the memecoin in January, just days before his inauguration.

TRUMP is trading for $10.27 at time of writing, down 8.1% in the last 24 hours.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Historical data presents March as one of the bullish months for cryptocurrencies, but there are some exceptions, including this year. With uncertainty and unfilled expectations from the U.S. Strategic Bitcoin Reserve and other factors, the crypto market faces a consistent downtrend. However, the expectations are rising for next month’s crypto bull market, but before this, let’s discuss the top altcoins to sell that lack significant price rally potential. 

3 Altcoins To Sell Before March 31

Amid millions of cryptocurrencies, only a bunch offer significant returns, while the others fail. In the current market, almost every digital asset is struggling, but the performance is even worse for some, such as Solana, GameStop, and Official Trump, making them the top altcoins to sell before the crypto bull market. Why? Let’s discuss this. 

1. Solana (SOL)

Solana has long lost its bullish performance due to the massive drop in the demand for meme coins. More importantly, it is less likely for the demand to return to its original state per analysts, which is why there are certain doubts about SOL’s price performance. 

2. GameStop (GME)

GME was among the top bullish altcoins back in 2024, but that has changed this year. The uncertainty is rising around the gaming company as the GameStop stock price is affected severely by their decision to build Bitcoin treasure. Amid uncertainty and mixed sentiments, investors must consider such altcoins to sell. 

3. Official Trump (TRUMP)

Other than its bullish performance at launch, the TRUMP meme coin has only declined in performance per CoinmarketCap. It is often discussed due to its poor performance, insider trading, and other controversial topics. Its bearish performance and controversies build the demand to sell this crypto.

Final Thoughts

Although downtrends and price drops are common, some crypto are not worth holding for longer due to their poor performance and internal issues. As the crypto bull market approaches, consider top cryptos to buy, like Bitcoin and others, such as Solana, TRUMP, GameStop, and other altcoins to sell. 

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Pooja Khardia

With a deep-seated passion for reading and five years of experience in content writing, Pooja is now focused on crafting trending content about cryptocurrency market.

As a dedicated crypto journalist, Pooja is constantly seeking out trending topics and informative statistics to create compelling pieces for crypto enthusiasts. Staying abreast of the latest trends and advancements in the field is an integral part of her daily routine, fueling a commitment to delivering timely and insightful coverage

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.