Traders have reportedly moved $35 million in BTC and ETH to interest-bearing crypto accounts at BlockFi. BlockFi is introducing a 25 BTC and 500 ETH cap next month to discourage crypto whales. As per Bloomberg, Bitcoin and Ethereum investors are moving their crypto to interest-bearing accounts by the millions. In the first week of March, Block Fi, a New York-based fintech startup providing interest-bearing accounts, was launched. Traders have reportedly moved $35 million in BTC and ETH to interest-bearing crypto accounts at BlockFi, in just three weeks. Zac Prince, chief executive of BlockFi, said in an interview: “We expect the interest rate in the account to be higher in times when prices are falling, and lower when prices are rising because demand to borrow Bitcoin is partially driven by market sentiment. We are bullish on the cryptocurrency market and on Bitcoin long term.” In a blog post, BlockFi stated that its accounts are designed for retail investors and not crypto whales. In fact, they are introducing a 25 BTC and 500 ETH cap next month to discourage whales. “”¦starting April 1st, only BlockFi Interest Account (BIA) balances of up to and including 25 BTC or 500 ETH (equivalent to roughly $100,000 and $70,000 respectively) will earn the 6.2% APY interest rate. All balances over that limit will earn a tiered rate of 2% interest. To clarify, if you had 25.5 BTC in your BIA account, the first 25 BTC would earn interest at 6.2% and the remaining 0.5 will earn interest at 2%.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next AUD/USD Technical Analysis: Falling wedge breakout confirmed, but risk-off may play spoil sport FX Street 4 years Traders have reportedly moved $35 million in BTC and ETH to interest-bearing crypto accounts at BlockFi. BlockFi is introducing a 25 BTC and 500 ETH cap next month to discourage crypto whales. As per Bloomberg, Bitcoin and Ethereum investors are moving their crypto to interest-bearing accounts by the millions. In the first week of March, Block Fi, a New York-based fintech startup providing interest-bearing accounts, was launched. Traders have reportedly moved $35 million in BTC and ETH to interest-bearing crypto accounts at BlockFi, in just three weeks. Zac Prince, chief executive of BlockFi, said in an interview: "We expect the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
