Original|Odaily Planet Daily (@OdailyChina)
Author|Wenser(@wenser 2010 )
The crypto market continues to warm up, with BTC returning above $80,000 after more than a hundred days, surging nearly 30% in the past week, thoroughly igniting bullish sentiment.
At the same time, crypto-related stocks, which have been fluctuating and declining for months, have collectively exploded, sweeping away the gloom and standing tall once again on the U.S. stock market stage. DAT treasury companies, crypto exchanges, and brokerage platform-related stocks such as Strategy, Coinbase, Circle, Robinhood, Bitmine, and Sharplink have all experienced catch-up gains, with astonishing increases compared to their lows in recent months, becoming the focal stars of this market rally. Odaily Planet Daily will, in this article, provide an overview of the best-performing representative crypto-related stocks for readers' reference.
Strategy: MSTR Has Rebounded Nearly 50% From Its Low in the Past Year
Last week, as BTC approached $70,000 and massive short positions were liquidated, U.S. crypto-related stocks rose collectively, with Strategy (MSTR) showing the strongest rebound, once climbing 12.68% to $104.25.
At the time of writing, Strategy (MSTR) pre-market stock price is temporarily at $122.63, with a 5-day gain of 28.13%. Compared to the low price of around $82 within the past year (52 weeks), the overall rebound gain is as high as 49.5%.
It is worth mentioning that Strategy's (MSTR) stock price low period coincided with the peak of market skepticism towards Strategy's hoarding model and STRC dividend model in late June. Since then, Strategy has been raising funds through financing, share sales, and various other operations over the past three months to prepare for dividend payments. Recently, STRC prices have also been gradually returning to around $100, currently temporarily reported at $97.21, representing a 29.6% increase from the historical low of around $75. Combined with an approximate 12% dividend yield, the returns are considered quite rich.
MSTR Stock Price Trend
Bitmine: BMNR Has Rebounded 88.6% From Its Low in the Past Year
Ethereum treasury company Bitmine recently stated that the company has become the U.S. large-cap listed company with the highest correlation to Ethereum (ETH) price. Among U.S. large-cap stocks, BMNR's correlation with ETH price movements exceeds that of other crypto-related stocks, with crypto trading platform Coinbase (COIN) ranking second.
On August 20th, during the continued recovery of BTC and ETH market trends, BitMine (BMNR) once rose 10.72% to $20.24.
At the time of writing, BMNR is temporarily at $24.14, with a 5-day gain of 31.48%. Compared to the low price of $12.8 within the past year (52 weeks), the overall rebound is approximately 88.6%.
As the largest ETH treasury listed company in the market, Bitmine holds a massive 5.8476 million ETH, accounting for about 4.8% of Ethereum's total supply. Additionally, its combined crypto assets, cash, marketable securities, and "Moonshot" investments amount to approximately $14.9 billion, including $308 million in cash and marketable securities, 210 BTC, $180 million in equity of Beast Industries, and $89 million in investments in Eightco Holdings. Currently, BitMine has staked 5,067,309 ETH, about 87% of its holdings, valued at approximately $12.4 billion, with an estimated annualized staking revenue of about $330 million.
BMNR Stock Price Trend
Coinbase: COIN Has Rebounded 29% From Its Low in the Past Year
On August 20th, during the broad rally of crypto-related stocks, Coinbase (COIN), long regarded as a "representative stock of the crypto market," once rebounded and rose 9.05% to $159.47.
Before DAT listed companies like Strategy and Bitmine, Coinbase, due to its unique position as a U.S. cryptocurrency exchange, was once considered the "first crypto concept stock" and thus received continuous bets from institutions including Ark Invest. However, with the listing of exchanges like Bullish and Gemini, Coinbase's unique stock value has been somewhat diluted. Coupled with its contracting market share and trading volume within the crypto industry, its stock price has remained under pressure.
At the time of writing, COIN stock price is temporarily at $179.48, with a 5-day gain of 21.27%. Compared to the low price of $139 within the past year (52 weeks), the overall rebound is approximately 29%.
COIN Stock Price Trend
Circle: CRCL Has Rebounded 75.5% From Its Low in the Past Year
On August 20th, during the broad rally of crypto-related stocks, Circle (CRCL), which debuted as the "first stablecoin stock," saw its stock price once rise 9.56% to $78.59. In the following days, benefiting from positive news related to the CLARITY Act, Circle (CRCL) stock price climbed all the way up, once rebounding to around $92.
At the time of writing, CRCL stock price is temporarily at $87.72, with a 5-day gain of 20.44%. Compared to the low price of around $50 within the past year (52 weeks), the overall rebound is approximately 75.5%.
CRCL Stock Price Trend
Sharplink: SBET Has Rebounded 83.7% From Its Low in the Past Year
As the "runner-up" among Ethereum DAT listed companies, Sharplink's stock price has also performed impressively in this strong rebound wave.
As of August 3rd, Sharplink's ETH holdings increased to approximately 889,000 coins, with crypto assets valued at about $1.4 billion under GAAP accounting. Notably, Sharplink's Q2 revenue this year increased to $11.5 million, but the net loss remained high at $394 million; in contrast, the loss in the same period last year was $103 million. The $394 million loss includes $321 million in unrealized crypto asset losses and $76 million in impairment of staked ETH.
At the time of writing, SBET stock price is temporarily at $8.27, with a 5-day gain of 30.24%. Compared to the low price of around $4.5 within the past year (52 weeks), the overall rebound is approximately 83.7%.
SBET Stock Price Trend
Robinhood: HOOD Has Rebounded 63.2% From Its Low in the Past Year
Compared to other DAT treasury companies, crypto exchanges, and leading stablecoin stocks, Robinhood's cryptocurrency attributes are not as strong. However, its predictive market layout over the past two years, rising cryptocurrency trading volume, and the launch of Robinhood Chain this year, along with on-chain native Meme coins within its ecosystem, make its positioning as a "cryptocurrency concept stock" indisputable.
It is worth mentioning that the Q2 earnings report released by Robinhood earlier showed strong performance. In Q2, net revenue reached $1.308 billion, a year-on-year increase of 32%, hitting a record high; net profit attributable to Robinhood's common shareholders reached $561 million, up 45% year-on-year; diluted earnings per share (EPS) were $0.62, exceeding market expectations of $0.42. Additionally, 13 of the company's business lines achieved annualized revenue exceeding $100 million, moving the "super financial APP" goal from vision to reality. The earlier launch of the Meme coin CashCat is also seen as an important completion of the "trading platform + public chain + Meme coin" strategy. Based on current operational data, Robinhood's subsequent business revenue performance may continue to reach new highs. Recommended reading: "13 Business Lines Exceed $100M in Annualized Revenue, Robinhood is Moving Towards a 'Super Financial App'", "Robinhood Launches CashCat, The Next Meme Coin Factory is Ready".
At the time of writing, HOOD stock price is temporarily at $103.62, with a 5-day gain of 11.1%. Compared to the low price of around $63.5 within the past year (52 weeks), the overall rebound is approximately 63.2%.
HOOD Stock Price Trend
Bullish: BLSH Has Rebounded 45.8% From Its Low in the Past Year
As a crypto exchange listed on the U.S. stock market in August last year, Bullish's stock price performance has also been acceptable. However, due to its industry position as a U.S.-compliant operating exchange, it has still gained favor and capital bets from crypto industry leaders like Cathie Wood.
On August 13th, Bullish announced its Q2 financial performance data. Its Q2 digital asset sales were $32.6 billion, lower than $58.6 billion in the same period last year; net loss was $280 million, compared to a net profit of $108.3 million in the same period last year, with a corresponding diluted loss per share of $1.78.
However, the company's core business performance showed slight improvement: Q2 adjusted revenue (non-IFRS) reached $92.6 million, a 62% year-on-year increase, higher than $57 million in the same period last year; subscription, service, and other revenue reached a record $62.7 million. Adjusted trading revenue was $29.9 million, up 24% year-on-year; adjusted EBITDA was $29.5 million, compared to $8.1 million in the same period last year; adjusted net profit was $14.3 million, compared to a loss of $6 million in the same period last year.
At the time of writing, BLSH stock price is temporarily at $30.61, with a 5-day gain of approximately 24.18%. Compared to the low price of $21 within the past year (52 weeks), the overall rebound is approximately 45.8%.
BLSH Stock Price Trend
Hyperliquid Strategies: PURR Has Rebounded Nearly 255% From Its Low in the Past Year
Among the crypto-related stocks with strong rebound momentum in this round, Hyperliquid Strategies (PURR) is a relatively special one. Benefiting from the impressive performance of Hyperliquid and the HYPE token during the market downturn, PURR has instead charted its own independent course.
Furthermore, according to the previously disclosed Q2 13F filing information, numerous investment funds, family offices, and investment institutions have actively or passively purchased PURR shares, positioning themselves in the Hyperliquid ecosystem and the "compliant U.S.-focused on-chain Perp DEX platform" narrative. Combined with recent positive news such as Hyperliquid receiving high attention from U.S. regulators, PURR's stock price has experienced sustained gains. For more details, recommended reading: "From Hedge Funds to Family Offices, Who is Quietly Increasing HYPE Exposure Through PURR?"
At the time of writing, PURR stock price is temporarily at $10.64, with a 5-day gain of approximately 52.87%. Compared to the low price of $3 within the past year (52 weeks), the overall rebound is approximately 254.6%.
PURR Stock Price Trend
Summary: The 'Leader Strategy' is Always the Best Choice
Looking at the price performance of the above crypto-related stocks, we can identify some preliminary patterns based on the timing of the price lows and the strength of the rebound:
First, buying leading concept stocks at their lows is always the best choice. Like the choices of many investment institutions, their selection targets are usually limited to 3-5 leading stocks, including Strategy, Bitmine, and Circle.
Second, the near-year lows for crypto-related stocks like Strategy, Bitmine, Sharplink, and Bullish almost all appeared around June 25th and 26th, marking the bottom of a market phase; the lows for crypto-related stocks less affected by BTC and ETH price fluctuations, such as Coinbase, Circle, and Robinhood, appeared in February this year, when market panic sentiment reached a phase peak. There is also some mutual reference value among these stocks.
Third, despite the recent strong market rebound, with BTC rising nearly 30% in a single week and ETH over 30%, the stock prices of many crypto-related stocks still have a significant gap from their near-year highs. Many stocks are still down over 50% or even over 100%, which also indicates that the market still has some distance to go before returning to its highs.
Finally, looking beyond the cycle or based on the project's own profitability, PURR has shown the strongest rebound from its low, with the highest rebound gain; Robinhood's rebound strength is also acceptable and worthy of long-term attention.
Additionally, judging by the degree of price recovery for BTC and ETH, to a certain extent, many crypto-related stocks play the role of "BTC and ETH leveraged concept stocks." The market eliminates the weak, and the crypto-related stocks still at the table are already the best of the best.
