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Produced by Daniel Aharonoff & Mogul Media AI

WOO X Partners with Wintermute for Crypto Innovation

WOO X Partners with Wintermute and GMCI: A Strategic Leap into the Future of Crypto In an ever-evolving landscape of cryptocurrency, the recent partnership between WOO X, Wintermute, and GMCI signals a bold move towards innovation and accessibility. This collaboration focuses on introducing index perpetual contracts linked to meme coins, leading cryptocurrencies, and layer 2 tokens. As the market continues to mature, it is essential for exchanges to adapt and cater to the diverse needs of traders and investors alike. Key Developments from WOO X Partnership Details : The collaboration with Wintermute and GMCI aims to provide a structured trading environment, enabling users to engage with a wider array of assets, particularly those that have captured the public's imagination, such as meme coins. Funding Success : WOO X successfully closed a $9 million funding round in January, which underscores investor confidence and the exchange's potential for growth in the competitiv...
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Produced by Daniel Aharonoff & Mogul Media AI

Bitcoin's Price Plunge: Impact on Popular Stocks and Crypto Industry

The recent plunge in Bitcoin's price following the launch of spot crypto exchange traded funds (ETFs) in the United States has had a significant impact on popular stocks that give investors exposure to the leading cryptocurrency. Companies such as MicroStrategy, Tesla, and Coinbase, which hold substantial amounts of Bitcoin, have seen their stock prices decline over the past month. Here's a closer look at how these stocks have been performing:

MicroStrategy (NASDAQ: MSTR)

  • Largest public holder of BTC with 189,150 coins worth $7.5 billion
  • Stock down 25% over the past month, trading at $450.99 per share

Tesla (NASDAQ: TSLA)

  • Owns over $386 million in BTC
  • Stock down over 19% over the past month, priced at $207.83

Coinbase (NASDAQ: COIN)

  • America's biggest crypto exchange
  • Stock down 29% over the past month, trading at $121.34 per share

While stocks in the crypto industry, particularly mining stocks, have historically performed well during periods of interest in digital assets, the current downward trend in Bitcoin's price has impacted these equities negatively as well. Canadian Bitcoin miner Hut (HUT) and American miner Riot Platforms (NASDAQ: RIOT) have also experienced significant declines:

Hut (HUT)

  • Toronto Stock Exchange listed
  • Dropped by more than 64% over the past month

Riot Platforms (NASDAQ: RIOT)

  • Down over 41% with stock priced at a little over $10

Despite the launch of several Bitcoin ETFs, Bitcoin's price has continued to decline in 2024. Analysts had differing opinions on whether the introduction of these investment vehicles would trigger a bull run in the market. As the crypto industry navigates through this challenging period, investors are closely monitoring the performance of these key stocks for any signs of recovery.

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