What are the crypto stocks speculating on? A look at the hottest crypto stocks in the U.S. | Bee Network

What are the crypto stocks speculating on? A look at the hottest crypto stocks in the U.S. | Bee Network Login 熱門新聞 Meme Launchpad AI 代理商 DeSci 熱門鏈瀏覽器 新人必讀 衝百倍幣 蜜蜂遊戲 必備網站 必備APP 必關大神 DePIN 新人必備 教我避坑 基本工具 深度網站 交易所 NFT 工具 你好， 登出 Web3宇宙 遊戲 DApp 蜂巢 增長平台 生態 搜尋 英語 Coins儲值 登入 下載 Web3大學 遊戲 DApp 蜂巢 生態 家•分析•正文 What are the crypto stocks speculating on? A look at the hottest crypto stocks in the U.S.分析8 年前更新懷亞特 28,477 17 On May 19, 2025, Coinbase Global (stock code: COIN) was officially included in the SP 500 index, and 加密貨幣currency stocks are gradually entering the mainstream vision. Subsequently, the stablecoin issuing giant Circle Internet Group (stock code: CRCL) was listed on the New York Stock 交換 on June 5, with an IPO price of US$31. As of June 19, the stock price has soared by more than 600%, and the US stock market has ushered in the copycat season.

Cryptocurrency company stocks are becoming a special crypto hotspot: traditional market investors are beginning to pay attention to companies in the crypto industry, while people in the cryptocurrency circle regard the stock price changes of cryptocurrency stocks as one of the vanes of market changes. This article will sort out the recent hype targets of US crypto concept stocks.

Note: This article was written on June 19. Due to the escalation of the war in the Middle East, there may be some differences between the current stock price and the price in the article.

Circle and the concept of stablecoins Circle Internet Group (ticker: CRCL) Listing time: June 2025 | Exchange: NYSE | Stock code: CRCL | 市場 value: ~$42 billion

On June 5, 2025, Circle Internet Group (stock code: CRCL), the first stablecoin stock, officially landed on the New York Stock Exchange, becoming the first large-scale cryptocurrency company to successfully IPO since Coinbase. The IPO was priced at $31, which doubled on the first day. As of June 19, the stock price had soared to $199.81, setting a new record for the three-day cumulative performance of US stock IPOs since 2020.

Circle was founded in 2013 and initially entered the market with the P2P payment application Circle Pay. It once dabbled in exchange business (such as Poloniex), but did not make a breakthrough. In 2018, Circle began to transform into the stablecoin track and cooperated with Coinbase to focus on the issuance and management of USDC. Currently, USDC has long been widely used on multiple platforms including Binance and Uniswap, becoming one of the most active stablecoins in DeFi and cross-border payments.

With the implementation of the GENIUS Act in the United States and the Hong Kong Stablecoin Regulation, the surge in CRCL is not only a recognition of its fundamentals and revenue model by the market, but also reflects the concentrated bet on the future value of the stablecoin track. Stablecoins are gradually evolving from marginal tools to core infrastructure, and large financial institutions on Wall Street have also frequently released their intention to issue stablecoins. Circles scarcity and policy dividends have jointly driven its valuation to soar.

In addition, Circle continues to expand its application scenarios in global cross-border clearing, on-chain settlement, government cooperation and other directions. More and more companies are using USDC as a real-time and stable payment method to replace SWIFT, trying to build a more efficient and transparent capital flow network with blockchain technology. In the future, CRCLs performance will not only be an investors valuation judgment on a technology company, but also a pricing of the possibility of a new generation of global payment systems.

相關閱讀： On the eve of the great change of stablecoins: the accelerated craze of stablecoins brought about by the crazy rise of Circle

Coinbase Global (Ticker: COIN) Listing date: April 14, 2021 | Exchange: NASDAQ | Stock code: COIN | Market value: approximately US$75 billion

Founded in 2012, Coinbase serves more than 120 million users in more than 100 countries. The platform supports multiple crypto asset transactions and provides retail and institutional services, including Coinbase Custody and Prime, with assets under management exceeding $200 billion. Coinbase holds licenses in multiple states in the United States and continues to deepen its presence in crypto fields such as public chains, infrastructure, and payments.

Recently, the Coinbase ecosystem has undergone multiple major updates: its Layer 2 network Base has performed well, with DeFi TVL exceeding US$5 billion, and it has announced that the DEX on Base will be integrated into the main application to inject liquidity into on-chain assets; at the same time, it has launched the USDC checkout function in conjunction with Shopify to promote the implementation of stablecoin commercial payments; on the consumer side, it has also teamed up with American Express to launch the first encrypted credit card, Coinbase One Card; in addition, Coinbase has also launched a CFTC-compliant perpetual contract function in the United States, and acquired options exchange Deribit to accelerate its layout in the derivatives market.

Behind the surge in CRCL, the market seems to have overlooked that Coinbase is the biggest winner of this feast. USDC was jointly launched by Circle and Coinbase through the Centre Alliance in 2018, and after the alliance was dissolved in 2023, Coinbase acquired Circles equity in August of the same year. According to Circles IPO documents, Coinbase received half of the remaining income from Circles USDC reserves, making 50% of the lying profit.

相關閱讀： Coinbase wants to be the Binance of America

The concept of Bitcoin reserves MicroStrategy Incorporated (Ticker: MSTR) Listing time: June 1998 | Exchange: NASDAQ | Stock code: MSTR | Market value: approximately $103 billion

Before entering the crypto space, MicroStrategys core business was to provide a business intelligence software platform to help companies perform data analysis, report production, and information publishing, and its performance was mediocre. What really brought MicroStrategy into the mainstream was its Bitcoin strategic reserve strategy.

Since August 2020, CEO Michael Saylor has taken the lead in using Bitcoin as the main reserve asset on the companys balance sheet, and has continued to increase its holdings of BTC through the issuance of convertible bonds and other means. As of mid-2025, the company holds more than 500,000 Bitcoins, accounting for nearly 3% of the global Bitcoin circulation, and promises not to sell a single Bitcoin.

This strategy makes MicroStrategy a quasi-ETF target for the Bitcoin concept in the US stock market. For many institutional investors, MSTR provides a channel to indirectly hold Bitcoin through traditional financial markets. Benefiting from the rising price of Bitcoin, MSTRs stock price has also soared from US$12 in 2020 to more than US$360, an increase of more than 30 times. The correlation between market value and Bitcoin price is between 0.7-0.9, which has a very strong positive correlation.

With the acceleration of Bitcoin financialization, the approval of ETFs, and the surge in institutional allocation demand, MicroStrategys BTC-based strategy is no longer an isolated case, but has evolved into a benchmark for the entire crypto industry. Its leading model has triggered a chain reaction, and more and more companies are beginning to follow the MicroStrategy path – actively buying Bitcoin through financing, issuing bonds, etc., and incorporating it into the balance sheet, setting off a new round of listed companies hoarding coins.

GameStop Corp. (Ticker: GME) Listing time: June 2002 | Exchange: NYSE | Stock code: GME | Market value: approximately $10.5 billion

GameStop is a multi-channel video game and consumer electronics retailer headquartered in the United States, with operations in the United States, Canada, Europe and Australia. The company sells new and used game consoles, physical and digital game software and various accessories through its brand stores such as GameStop, EB Games and Micromania, as well as international e-commerce platforms. Hardware and peripherals are the main source of its revenue.

In February 2025, CEO Ryan Cohen met with MicroStrategy founder Michael Saylor, and the meeting was seen by the market as an important signal that GameStop would follow MicroStrategys hoarding model. In March, the company announced plans to use Bitcoin as a reserve asset. The stock price soared 12% in March. The rumors in February also boosted GMEs stock price by 18%.

At the end of May, the company confirmed that it had purchased approximately 4,710 比特幣s (worth approximately US$513 million), incorporating Bitcoin into its balance sheet for the first time, and officially joining the MicroStrategy model, making it the 13th largest Bitcoin holder in the world. Stimulated by short-term news, on June 11, the company announced a $1.75 billion note issuance plan for strategic reserves of Bitcoin. After the announcement of the note issuance, GMEs stock price fell more than 11% after the market on June 11, and GMEs stock price plummeted more than 23% on June 12, partly due to a 17% drop in revenue to US$732.4 million in the first quarter. It also reflects investors concerns about potential share dilution and Bitcoin investment strategies. Recently, GME completed the issuance of $2.25 billion in convertible senior notes to strengthen its Bitcoin strategy. GMEs stock price closed at US$22.99 on June 17, down about 1.4% on the day.

Trump Media Technology Group Corp (ticker: DJT) Listing time: September 2021 | Exchange: NASDAQ | Stock code: DJT | Market value: approximately US$5.1 billion

Trump Media Technology Group is a comprehensive technology company focusing on social media, digital streaming and technical infrastructure. Its flagship product, Truth Social, is committed to creating a public opinion space that encourages freedom of speech and decentralized censorship, and is also an important Trump concept stock.

On May 27, 2025, DJT suddenly announced the launch of a $2.5 billion Bitcoin treasury strategy, explicitly incorporating Bitcoin into its asset reserves for financial stability and long-term value storage. This news directly stimulated Bitcoin to rise by 1.17% in the short term, and the price broke through the $112,000 mark. DJTs stock price experienced a roller coaster-like fluctuation after the announcement of the news. It rose before the market opened, and then fell by nearly 12% in a short period of time, setting the largest single-day drop since March 10, 2025, reflecting the market investors concerns about Bitcoin investment.

In June, DJT announced that its S-3 registration statement was approved by the SEC and immediately launched equity and convertible bond agreements with about 50 investors, with a total financing amount of up to US$2.3 billion. According to the disclosure, most of the financing will be used directly to purchase Bitcoin, making DJT another large US-listed company that uses Bitcoin as a strategic asset reserve after MicroStrategy.

Other companies MicroStrategy, which was considered a high-risk niche strategy at the time, is evolving into a mainstream narrative path that companies across industries are emulating five years later. More and more companies are beginning to incorporate crypto assets into their reserve systems, trying to reconstruct their valuation logic through crypto reserves + capital market leverage.

Fitness equipment manufacturer Interactive Strength (stock code: TRNR) and medical company Semler Scientific (stock code: SMLR) have both invested in Bitcoin, approving investment plans of up to $5 million and 1,570 Bitcoins, respectively. Artificial intelligence company Genius Group (stock code: GNS) is not far behind, spending $14 million to buy 153 Bitcoins. In addition, many companies such as Rumble (stock code: RUM), Anixa Biosciences (stock code: ANIX) and LQR House (stock code: YHC) have joined the ranks of Bitcoin investment.

相關閱讀： Microstrategy effect sweeps US stocks: 30 companies buy coins for reserves, and stock prices soar by an average of 400%

The concept of coin-stock integration SharpLink Gaming (Ticker: SBET) Listing time: May 1997 | Exchange: NASDAQ | Stock code: SBET | Market value: Approximately US$600 million

SharpLink Gaming is an online technology company operating in the field of sports betting and online casino games, connecting sports fans with licensed online sports betting operators and providing sports fans with personalized betting offers. The companys operating conditions are not ideal and it has been losing money for years. The net profit in 2023 was -$14.2432 million, and the total revenue in 2024 was -$4.5712 million.

On May 27, SharpLink Gaming issued 69,100,313 shares of common stock or equivalent securities to investors at a price of $6.15 per share, with an estimated total proceeds of approximately $425 million. The funds raised will be used to purchase Ethereum as the companys main treasury reserve asset. The lead investor in this private placement is Consensys Software Inc., and participating investors include ParaFi Capital, Electric Capital, Pantera Capital, Galaxy Digital, etc.

After the news was announced, SBETs stock price rose by more than 650% in a single day, and the cumulative increase in three days reached 17.56 times, with the highest stock price reaching 120 US dollars. The company then submitted an S-3 registration statement to the SEC for future sales of securities. Although the company clarified that the news was actually misunderstood and did not mean immediate share dilution, the stock price still fell sharply, almost wiping out all recent gains.

SBET may have quickly experienced its micro-strategy gains in the short term, but it quickly plummeted back to square one, and building cryptocurrency reserves may no longer be a guaranteed driver of stock prices.

DeFi Development Corp (ticker: DFDV) Listing time: July 2023 | Exchange: NASDAQ | Stock code: DFDV | Market value: approximately US$460 million

DeFi Development Corp was originally a real estate financing company that used an AI-driven online platform to connect lenders and commercial real estate buyers. In April 2025, a team of former Kraken exchange executives purchased 728,632 shares of DeFi Development Corps common stock, and former Krken Chief Strategy Officer Joseph Onorati has been appointed chairman and CEO.

Since then, the company has transformed into a Solana Treasury Company and purchased 2,858 SOL for the first time on April 8, completing a tenfold increase in April. As of the end of May, the companys SOL holdings increased to 609,190, with a value of more than $97 million. The stock price once again achieved a five-fold increase in May.

Trident Digital Tech Holdings (Ticker: TDTH) Listing time: September 2024 | Exchange: NASDAQ | Stock code: TDTH | Market value: approximately $19 million

In June 2025, TDTH, a digital transformation leader headquartered in Singapore, announced plans to raise $500 million to create the worlds first large-scale corporate XRP reserve, and plans to integrate XRP into its digital transformation services for real-time payments and DeFi applications. In the long run, it will involve holding, accumulating and deeply participating in the Ripple ecosystem to improve its decentralized financial strategy. After the news was announced, the stock price fell more than 50% from $0.45 to $0.2.

In addition, three other large companies have also announced plans to use XRP as an asset in their treasury reserves for their payment infrastructure. Pharmaceutical company Wellgistics Health (stock code: WGRX) invested $50 million in XRP; energy group VivoPower International (stock code: VVPR) plans to purchase $100 million in XRP; and wine and travel industry leader Webus International (stock code: WETO) will raise $300 million to establish XRP reserves. After the announcement, the companys stock price fell to a certain extent, reflecting that altcoins such as XRP have not yet been recognized by mainstream financial institutions and are still risky investments.

SRM Entertainment, Inc. (Ticker: SRM) Listing time: August 2023 | Exchange: NASDAQ | Stock code: SRM | Market value: Approximately US$190 million

On June 16, 2025, SRM, a toy and souvenir design and development company, announced that it had received $100 million in equity investment to launch a TRON token (TRX) reserve strategy. At the same time, Justin SUN, founder of the TRON blockchain, was appointed as a consultant to the company and will be listed on the Nasdaq through a reverse merger with Tron.

After the announcement, SRMs stock price rose more than tenfold, reaching a record high and its market value exceeded US$100 million.

The surge in Circle and MicroStrategy has shown the market the huge growth potential of the stablecoin track and the micro-strategy model. More and more traditional financial institutions, technology giants, and small and medium-sized enterprises will participate in the stablecoin track and build new financial strategies around cryptocurrency reserves. However, whether this model can survive cycles and withstand fluctuations still depends on the long-term market testing and corporate risk control capabilities.

原文連結

This article is sourced from the internet: What are the crypto stocks speculating on? A look at the hottest crypto stocks in the U.S.

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