<p>Cryptocurrencies traded higher, while some crypto-related stocks dipped over contagion fears. </p> <p>Bitcoin rose 1.6% from yesterday, trading at $16,448 at 8:30 a.m. Eastern, according to CoinGecko. Ether was changing hands for $1,213, climbing over 3.6%.</p> <div> <div id="attachment_190596"class="wp-caption alignnone" style="max-width: 1981px;"><img class="has-caption wp-image-190596 size-full" src="https://www.tbstat.com/wp/uploads/2022/11/BTCUSD_2022-11-29_13-27-53.png" alt="" width="1971" height="1394" /><p class="wp-caption-text"><a href="https://www.tradingview.com/chart/?symbol=COINBASE%3ABTCUSD"><span style="font-size: 8pt;">BTCUSD chart by TradingView</span></a></p></div> </div> <div> </div> <div>Altcoins dogecoin and litecoin jumped by 9.3% and 5.8%, respectively. Elsewhere, XRP added 3.4%, and ADA rose 2%. </div> <p>GBTC's discount to NAV is widening again, now at 40.5%. The discount to NAV of Grayscale's other structured product, ETHE, has widened to 43.7%.</p> <div class="c-message_kit__gutter"> <div class="c-message_kit__gutter__right" role="presentation" data-qa="message_content"> <div class="c-message_kit__blocks c-message_kit__blocks--rich_text"> <div class="c-message__message_blocks c-message__message_blocks--rich_text" data-qa="message-text"> <div class="p-block_kit_renderer" data-qa="block-kit-renderer"> <div class="p-block_kit_renderer__block_wrapper p-block_kit_renderer__block_wrapper--first"> <div class="p-rich_text_block" dir="auto"> <div class="p-rich_text_section">Shares in GBTC do not grant the holder access to the underlying assets, which has created a disparity between GBTC’s trading price and its net asset value (NAV). This was known as the <a class="c-link" tabindex="-1" href="https://www.theblock.co/post/155098/looking-into-grayscale-bitcoin-trust-after-sec-spot-etf-rejection" target="_blank" rel="noopener noreferrer" data-stringify-link="https://www.theblock.co/post/155098/looking-into-grayscale-bitcoin-trust-after-sec-spot-etf-rejection" data-sk="tooltip_parent" data-remove-tab-index="true">premium</a> or the difference between the value of the underlying holdings and the market price of the holdings. The premium flipped to a discount in 2021.</div> </div> </div> </div> </div> </div> </div> </div> <div class="c-message_actions__container c-message__actions" role="group"> <div class="c-message_actions__group" role="group" aria-label="Message actions" data-qa="message-actions"> </div> </div> <p><iframe frameborder="0" height="420" src="https://embed.theblockcrypto.com/data/crypto-markets/structured-products/premium-of-gbtc/embed" title="Daily GBTC Premium/Discount to NAV" width="100%"></iframe> </p> <p>Meanwhile, BlockFi became the latest crypto lender to <a href="https://www.theblock.co/post/188915/crypto-firm-blockfi-files-for-bankruptcy">declare</a> bankruptcy on Monday. The bankruptcy petition noted more than 100,000 creditors and between $1 billion and $10 billion in assets and liabilities.</p> <p>The lender's Chapter 11 filing underscores "significant asset contagion risks associated with the crypto ecosystem, and, potentially, deficient risk management processes," said Monsur Hussain, senior director of financial institutions at Fitch Ratings.</p> <p>"Restructuring processes can be notoriously lengthy – Mt Gox's creditors are only getting closer to being paid eight years after the operation failed," he said.</p> <h2>Crypto stocks</h2> <p>U.S. stock index futures were flat, with S&amp;P 500 futures unchanged and Nasdaq 100 futures ticking up 0.15%.</p> <p>Silvergate dipped 2.3% pre-market, trading around $25, according to Nasdaq data. Shares in the crypto bank plummeted on Monday, dropping over 11%. </p> <p>The La Jolla-based firm <a href="https://www.theblock.co/post/190478/silvergate-capital-reports-less-than-20-million-in-blockfi-deposit-exposure">said</a> it has less than $20 million of its total deposits from crypto customers come from BlockFi, adding that it has "minimal" exposure to the company now in bankruptcy proceedings.</p> <p>Coinbase gained 1.2% to trade around $43 pre-market. Block was up 1%, and MicroStrategy was unchanged, having closed down 3% on Monday.</p><br /><span class="copyright"><p>© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</p> </span>