Crypto Analyst Predicts Blackrock Is Working With Small Cap Altcoin
Noteworthy engagements include EnergyWeb’s participation at Blackrock’s summit and a joint venture focusing on sustainable technologies.
Despite potential and rising interest, Miya advises caution due to the speculative nature and volatility of crypto markets.
Small but noteworthy altcoin Energy Web Token (EWT), managed by EnergyWeb, has recently caught the eye of analysts due to its speculated connections with financial giants Blackrock and Temasek.
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In a post, crypto analyst Miya discussed significant activities and engagements hinting at a potential collaboration between these traditional financial giants and the agile digital asset firm.
Miya said EnergyWeb has distinguished itself by securing an invite to Blackrock’s prestigious Digital Asset Summit, an event that also welcomed another prominent crypto-native project, Circle.
Source: BlackRock
At the summit, EnergyWeb representative Amy Westervelt was given a platform to address key stakeholders, a rare privilege that highlights the project’s growing influence and recognition in the sector.
Linking Partnerships and Potential
Further fuelling speculation is the recent announcement of a joint venture between Blackrock and Temasek, aiming to invest over US$1.4 billion (AU$2.1 billion) in sustainable technologies – a domain where EnergyWeb has established its niche. The fund, known as Decarbonization Partners, has surpassed its initial fundraising target, emphasising the financial and strategic commitment to green technology innovations.
Temasek, through its industrial and transportation holdings arm SP Group, is one of the founding members and core supporters of the EnergyWeb Foundation.
Why is this important now? Because Temasek ALSO has deep connections with $EWT. Temasek actually was one of the founding members and core-supporters of EnergyWeb Foundation.
With a market capitalisation hovering around US$180 million (AU$275 million), Miya said, EWT has been under the radar of many investors until recent developments. The altcoin has shown considerable activity in the last week, drawing attention from both retail and institutional investors, they added.
Additionally, Robert Mitchnick the Head of Digital Assets at Blackrock, showed interest in EWT by engaging with LinkedIn content related to EnergyWeb, posted by Westervelt.
Analyst: Proceed With Caution
While the development is exciting, analyst Miya urged caution, given that the crypto market is notoriously volatile and that much of the current interest is based on speculative connections:
This is an altcoin, and obviously with the current market conditions, risky. Don’t take this biased post as neutral research, DYOR and nfa.
Moreover, with no formal confirmation of a partnership between Blackrock, Temasek, and EnergyWeb as yet, the market’s response remains speculative but optimistic. At the time of writing EWT is trading for US$2.6 (AU$3.96), still far below its all-time high in April 2021 when it traded for US$22.22 (AU$33.88).
Energy Web Token (EWT), all-time graph, source: CoinMarketCap
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The post Crypto Analyst Predicts Blackrock Is Working With Small Cap Altcoin appeared first on Crypto News Australia.
Filed under: Bitcoin - @ April 30, 2024 2:10 am