Meme coins drop over 10% following GameStop’s stock crash

Meme coins have experienced a notable decline alongside GameStop’s stock crash on June 7. Although the drop was smaller than GameStop’s, major meme coins like Pepe, Dogewheat, Floki, and Bonk fell by over 10%. The unpredictability of the market was evident as GameStop’s stock surged 47% the previous day in anticipation of a live broadcast by Keith Gill, known as ‘Roaring Kitty,’ who had led the GameStop rally. However, the stock price plummeted by as much as 40% after the 50-minute broadcast, which offered no new information. The unpredictability also…

Bitcoin, Ethereum, Solana Over 150% Annual Gains Leave The Stock Market, Gold In The Dust

Despite the relative tepid movement in the crypto market since Bitcoin hit a new all-time high (ATH) in March, Bitcoin, Ethereum, and Solana have continued to top traditional assets, including Gold. This was highlighted in a recent report that showed how crypto assets have provided the best returns for a while now.  Bitcoin, Ethereum, And Solana Outperform Traditional Assets Raoul Pal, Co-Founder of Exponential Age Asset Management (EXPAAM), shared the crypto investment firm’s latest monthly update, showing annualized returns on all major assets. Related Reading Bitcoin, Ethereum, and Solana have…

Citadel, BlackRock back project to start national stock exchange in Texas

The Texas flag is seen before the game between the Houston Cougars and the Texas Longhorns at TDECU Stadium on Oct. 21, 2023 in Houston. Tim Warner | Getty Images Sport | Getty Images BlackRock and Citadel Securities are among investors backing a group seeking to start a new national stock exchange in Texas. TXSE Chairman and CEO James Lee said the Dallas-headquartered group has raised $120 million with the support of more than two dozen investors. “Texas’s booming economy and the strong economic and population growth among states in…

Bitfarm’s stock is unjustifiably discounted, sees 75% upside

Analysts from H.C. Wainright believe Bitfarm’s growth strategy is promising, and the stock could have a 75% upside. In a recent market report, the analysts expressed optimism about Bitfarms‘ potential to expand its market share and lower production costs in 2024. They cited Bitfarm’s actions to embark on a fleet upgrade and growth strategy and anticipate a reduction in electricity costs.  Bitfarms is a worldwide, fully integrated Bitcoin mining company with 12 mining facilities worldwide. Despite potential short-term volatility due to macro and geopolitical concerns, the H.C. Wainright analysts are…

GameStop (GME) Stock, Meme Tokens Surge as Keith Gill Returns to Reddit

Related stocks and cat-themed meme tokens started to surge as the Reddit post went viral across social media platforms. Cat tokens toshi (TOSHI), mog (MOG), keycat (KEYCAT) and wen (WEN) were up as much as 37% in the past 24 hours, CoinGecko data shows, with most of the gains coming after Gill’s post. GME, a Solana meme token spoofing the company’s stock ticker, rose over 200%, according to DEXTools data. Source

New York Stock Exchange announces collaboration for Bitcoin options tracking

The New York Stock Exchange (NYSE) will collaborate with CoinDesk Market Indexes to launch products that track Bitcoin prices.  This collaboration will be a cash-settled index that will open up new avenues for options trading against Bitcoin. This collaboration will benefit traditional traders and investors using the CoinDesk Bitcoin Price Index (XBX), the longest-operating spot Bitcoin (BTC) index. “As traditional institutions and everyday investors are demonstrating their wide-ranging enthusiasm for the recent approval of spot bitcoin ETFs, the New York Stock Exchange is excited to announce its collaboration with CoinDesk…

UK’s First Spot Bitcoin and Ethereum ETPs Begin Trading on the London Stock Exchange

The sixth-largest stock exchange in the world has officially begun trading Bitcoin (BTC) and Ethereum (ETH) exchange-traded notes (ETNs). According to the London Stock Exchange (LSE), today marks the launch of ETH and BTC ETN trading. “We are pleased to announce the launch of Crypto ETNs on the London Stock Exchange, effective 28 May 2024, welcoming products from WisdomTreeEU and 21Shares.” ETNs are a type of exchange-traded product (ETP) and are distinct from exchange-traded funds (ETFs) in that ETNs are debt-carrying vehicles tracking an index, and not backed by underlying…

London Stock Exchange loses key ETF leaders ahead of crypto ETPs launch

As the London Stock Exchange gears up to list its inaugural crypto exchange-traded products, about half of its exchange-traded fund team has reportedly left. Just as the London Stock Exchange (LSE) prepares to list its first crypto-linked products, two members of its four-person team overseeing exchange-traded funds (ETFs) departed, Bloomberg reports, citing a spokesperson for LSE. According to the report, Michael Stanley, the head of exchange-traded products, and Hetal Patel, head of business development, have left the organization, though the exact timing of their exits remains unclear. The departures come…