Crypto Firms on Wall Street Diverge: Miners Dip, Strategy Clones Vary
Jamie Redman
Crypto News
Circle has certainly sparkled on Wall Street since its debut on the New York Stock Exchange (NYSE), and Coinbase has also captured investor interest this week. Yet, not all crypto-related stocks are having a grand time, with Strategy’s MSTR and shares of public miners facing some headwinds.
Miners Take a Hit—Meanwhile, CRCL and COIN Shine as Strategy Copycats Offer a Volatile Mix
Digital assets have been on a wild ride this week, and most publicly traded companies connected to crypto and blockchain haven’t kept pace with Circle’s CRCL. For example, a whopping nine out of the ten biggest publicly traded bitcoin mining companies have faced losses over the past five trading days.
Applied Digital took the biggest tumble with a 15.18% decline, and Bitdeer Technologies wasn’t far behind, dropping 11.24%. MARA Digital Holdings (MARA) experienced an 8.40% decline, while Hut 8 slid by 7.24%. Cleanspark lost 5.45%, and Riot Platforms saw a slight dip of 2.64%.
Strategy (MSTR) also took a little dip of 2.48% over the past five sessions and has even shrunk by more than 6% in the last month. Fresh faces on the scene, who’ve mirrored Strategy’s coin-collecting approach, have also experienced some decent losses.
DDC Enterprise is down 5.51% this week, Gamestop has slipped by 0.55%, Addentax lost 7.62%, and Jiuzi Holdings saw a massive drop of 63% against the U.S. dollar. Yet, some Strategy copy-cats have actually shined, with Metaplanet (TSE-3350) climbing 13.8% over the past five sessions.
Semler Scientific (SMLR) enjoyed a gentle 1.17% five-day increase thanks to a delightful 11.95% pop on Wednesday. As Bitcoin.com News previously reported, Circle has collected hefty gains, with CRCL soaring more than 70% during the five-day period. Alongside this, Coinbase (COIN) also hopped up 19.79% this week.
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