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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