Digital Asset Treasuries Lead Crypto Stock Recovery

Cryptocurrency markets are experiencing a notable recovery, largely driven by Digital Asset Treasuries (DATs). This rebound follows a significant leverage flush at the start of the month, indicating a return of confidence and stability to the market.

Ethereum Stock Performance

Ethereum (ETH) asset treasuries showed strong recovery on Tuesday. For example, Nasdaq-listed EthZilla (ETHZ) rose 12.35% during after-hours trading to $10.80, according to Google Finance data.

BitMine, the world's largest Ethereum treasury, also saw significant stock gains of 10.26% for BMNR. BitMine shares reached $32.40 in after-hours trading, an increase of over 650% since announcing its Ethereum strategy in late June.

Performance of Mining and Crypto Investment Companies

Thumzup Media Corp (TZUP), a mining and crypto investment firm, topped the list of winning stocks that day, gaining 13.25% on the Nasdaq.

Slow Bitcoin Stock Recovery

In contrast, Bitcoin (BTC) stock recovery was slower. Several listed companies with alternative currency treasuries outperformed their Bitcoin counterparts during the market recovery.

GD Culture Group (GDC), a virtual content production company and TRUMP meme coin treasury, saw its stock gain 11.4%, while Solana (SOL) treasury (HSDT) gained 9.36%, and Sui Group Holdings (SUIG) recorded a gain of 7.7%.

Michael Saylor's Strategy Company Performance

Michael Saylor's Strategy (MSTR), the world's largest cryptocurrency treasury, saw a modest gain of 5.78%, with the stock price reaching a high of $188 during Tuesday's trading session. Strategy stock has fallen 37.4% since the beginning of the year, with most of its losses concentrated since the mid-October cryptocurrency market reversal.

BitMine Buys the Dip Again

BitMine is reportedly buying the Ethereum dip this week, collecting another 7,080 Ethereum worth $19.8 million on Monday, and 18,345 Ethereum worth about $55 million on Tuesday, according to Lookonchain and Arkham Intelligence. However, these purchases have not been officially confirmed by the company.

Ethereum prices rose to a five-day high of $3,060 in early trading on Wednesday morning.


Risk Warning: this article represents only the author’s views and is for reference only. It does not constitute investment advice or financial guidance, nor does it represent the stance of the Markets.com platform.When considering shares, indices, forex (foreign exchange) and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and could result in capital loss.Past performance is not indicative of any future results. This information is provided for informative purposes only and should not be construed to be investment advice. Trading cryptocurrency CFDs and spread bets is restricted for all UK retail clients. 

Latest news