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Produced by Daniel Aharonoff & Mogul Media AI

Stepn x Adidas Genesis Sneakers: A New Era in Fitness

The Stepn x Adidas Genesis Sneakers Collection: A Revolutionary Partnership The fusion of the digital and physical worlds is more than a trend; it is a burgeoning reality. The recent collaboration between Stepn and Adidas exemplifies this transformative shift. With the launch of the Genesis Sneakers collection, both companies are poised to redefine the boundaries of fitness, fashion, and technology in lifestyle rewards. This partnership is not only groundbreaking but also sets the stage for future innovations in the ever-evolving landscape of fitness applications and digital assets. A New Era of Phygital Experiences Stepn, a pioneering move-to-earn FitTech app, has taken a bold leap by teaming up with a global powerhouse like Adidas. This collaboration signifies a pivotal moment in the fitness and lifestyle sector, as highlighted by Stepn CEO Shiti Manghani: Phygital Partnership : The merging of physical and digital assets marks a new direction for lifestyle rewards. Enhanced...
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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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