Crypto Shares Gain Premarket; SharpLink Gaming up 11%; Upexi up 5%; Canaan, Bit Digital up 3%

Tiger Newspress

Jul 09

Crypto shares gained in premarket trading on Wednesday.

SharpLink Gaming rose 11%; Upexi rose 5%; Canaan, Bit Digital rose 3%; Iren and Bitfarms rose 1%.

Upexi, Inc., a company holding Solana as part of its corporate treasury, said Tuesday that it held 735,692 at the end of June, an 8.2% increase from May.

The company’s stock has traded below $4 a share since plummeting about 60% when investors filed to sell millions of shares. Upexi briefly surged above $15 last month before retreating.

Upexi is part of a small group of firms trying to mirror Strategy's success as a Bitcoin treasury firm, but by focusing on altcoins like Solana. Strategy's stock price has soared along with the price of Bitcoin. Other companies pursuing stockpile-Solana strategies include DeFi Dev Corp and Canada's SOL Strategies.

Ethereum treasury company SharpLink Gaming's stock was up Tuesday after the company announced another ETH buy, bringing its total holdings of the second-biggest cryptocurrency to 205,634 coins—or over $527 million worth.

SharpLink said Tuesday that it bought 7,689 ETH during the week spanning June 28 to July 4, at a weighted average price of $2,501 per coin.

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Upexi briefly surged above $15 last month before retreating.Upexi is part of a small group of firms trying to mirror Strategy's success as a Bitcoin treasury firm, but by focusing on altcoins like Solana. Strategy's stock price has soared along with the price of Bitcoin. 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