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Is Marathon Digital (MARA) a Better Bet Than MicroStrategy (MSTR) Stock Now?

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2 hours ago

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Bitcoin miner Marathon Digital (NASDAQ: MARA) buzz on Wall Street with 44% gains in the last week. Financial giant Cantor Fitzgerald raised the stock’s target price to $42, another 60% on expectations of outperforming MicroStrategy (MSTR) as well. MARA stock price surged to a six-month high on Monday amid the latest price target.

Why Is Marathon Digital (MARA) A Strong Bet

Cantor Fitzgerald has drawn attention to Marathon Digital Holdings (MARA) as a standout player in the Bitcoin ecosystem, reported Street Insider. The financial giant also emphasized its distinction from MicroStrategy (MSTR) due to its operational focus on Bitcoin mining. As of Monday’s closing, the MARA stock was trading at 26.42, with most of the gains coming over the past week.

MARA is currently the largest public-traded miner by the BTC hashrate, and produces nearly 25 Bitcoins every day. Unlike MSTR, which primarily invests in Bitcoin directly, MARA operates a mining business that generates Bitcoin at a discount to the spot price.

This approach, combined with its “HODL” strategy of retaining mined Bitcoin rather than selling, positions its operations as accretive on a Bitcoin-per-share basis, noted Cantor Fitzgerald.

The analysts at Cantor also said that MARA’s equity value currently trades at a ~152% premium over its Bitcoin holdings. On the other hand, MicroStrategy acquires Bitcoin at the spot market rate, but MARA has the leverage to mine Bitcoin at a ~40% discount to the spot price, which further strengthens its model.

Thus, Cantor Fitzgerald noted that as Marathon Digital reduces its reliance on third-party hosting firms, its cost of mining is likely to decline. This makes the business even more accretive in the long run. The Bitcoin miner purchased 5,771 BTC after raising $1 billion through a stock offering last week.

They further added that the Bitcoin miner’s operational efficiency, coupled with MARA’s strategic alignment, suggests the company could surpass MSTR in profitability metrics. As a result, Cantor Fitzgerald gave a target of $42 for the MARA stock.

What’s Next for MicroStrategy (MSTR)?

The world’s largest corporate Bitcoin holder Microstrategy (NASDAQ: MSTR) purchased additional 55,500 Bitcoins on Monday, for an investment value of a massive $5.4 billion. With this, it has taken its total Bitcoin holdings to 386,700 BTC.

However, amid the macro conditions and Donald Trump’s tariff raise, the MSTR stock closed 4.87% lower at $403 on Monday. Along with the US equity futures, the Bitcoin price crashed over 4% slipping under $94,000.

On the other hand, Bernstein analysts believe that there’s still steam left in the MSTR stock rally. As a result, they have given the MSTR stock price target of $600.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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BTC Dips Below $95K, LDO Up 15%

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5 hours ago

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November 26, 2024

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Following the recent bullish rally, cryptocurrency prices today are facing selling pressure, with market sentiment shifting towards cautiousness. Bitcoin (BTC) has dropped to the $93K level today. Altcoins show a mixed trend, with Ethereum (ETH) and XRP gaining 3% to 4%, while Solana (SOL) is down by 5%. Lido DAO (LDO) and Arbitrum (ARB) have emerged as the top gainers, with increases of 15% and 10% in the past 24 hours.

Meanwhile, the global crypto market cap has dropped by 2%, currently at $3.27 trillion. However, the overall trading volume has surged by 22%, reaching $241 billion. Let’s dive into the top cryptocurrencies by market cap and their price movements today, November 26.

Cryptocurrency Prices Today: BTC and SOL Drop, ETH and XRP See Gains

BTC price slipped to the $93K level today, while ETH and XRP rose by 3% to 5% in the past 24 hours. SOL declined by 5%, whereas LDO and ARB emerged as the day’s top gainers.

Bitcoin Price Today

BTC is currently trading at $94,666, marking a 3% decline in the last 24 hours. Its 24-hour low and high are $92,642 and $98,935, respectively. The market cap of Bitcoin stands at $1.87 trillion, with a trading volume of $84 billion in the same period. Its market dominance is 57.27%.

Additionally, Monday saw a daily outflow of $438 million from BTC ETFs, with BlackRock IBIT recording an inflow of $267 million, while Bitwise BTC experienced a major outflow of $280 million. Notably, Rumble, a video-sharing and cloud services platform, has announced plans to allocate up to $20 million from its corporate treasury to Bitcoin, reflecting growing corporate interest in the cryptocurrency.

Ethereum Price Today

Ethereum (ETH) is currently trading at $3,432, reflecting a 3% increase in the last 24 hours. Its 24-hour low and high are $3,349 and $3,545, respectively. Ethereum’s market cap stands at $414 billion, with a trading volume of $52 billion. With a market dominance of 12.7%, ETH remains the second-largest cryptocurrency by market cap.

According to sosovalue, ETH ETFs saw an inflow of $2.83 million, with Bitwise leading the way with an inflow of $8.75 million. Meanwhile, Grayscale recorded an outflow of $7.65 million.

Solana Price Today

Solana (SOL) is currently trading at $237, reflecting a 5% decrease in the last 24 hours. Its 24-hour low and high are $231 and $256, respectively. Solana’s market cap stands at $112 billion, with a 24-hour trading volume of $6.71 billion. With a market dominance of 3.47%, SOL ranks as the fourth-largest cryptocurrency by market cap.

Additionally, Solana’s memecoin launchpad Pump Fun has indefinitely suspended its live streaming feature. This decision follows backlash over the misuse of the live stream service, prompting the protocol to sunset this offering.

XRP Price Today

XRP is currently trading at $1.44, marking a 5% increase in the last 24 hours. Its 24-hour low and high are $1.385 and $1.53, respectively. With a market cap of $82 billion and a 24-hour trading volume of $11.4 billion, XRP has a market dominance of 2.54%, ranking as the sixth-largest cryptocurrency by market cap.

Moreover, the momentum for crypto ETFs continues to grow. Just yesterday, WisdomTree filed for an XRP ETF in Delaware, signaling increased institutional interest in cryptocurrency.

Meme Cryptocurrency Prices Today

The meme coin sector has experienced a downward trend over the past 24 hours. Dogecoin (DOGE) is down by 5%, currently trading at $0.40, while Shiba Inu (SHIB) has dropped 2%, trading at $0.00002504.

Additionally, other notable meme coins like PEPE, BONK, and FLOKI have dropped by 4% to 6%. This decline highlights the overall bearish momentum affecting the meme coin market.

Top Cryptocurrency Gainers Prices Today

Lido Dao

LDO price surged by 15% today, currently trading at $1.60. Its 24-hour low and high are $1.478 and $1.764, reflecting strong price movement.

Arbitrum

ARB price is trading at $0.89, showing a 10% increase in the last 24 hours. Its 24-hour low and high are $0.84 and $0.95, indicating notable price movement.

Top Cryptocurrency Losers Prices Today

The Sandbox

SAND price has dropped by 16% in the last 24 hours, currently trading at $0.66. Its 24-hour low and high are $0.65 and $0.82, reflecting significant volatility.

Decentraland

MANA price is currently trading at $0.62, showing a 15% decrease in the last 24 hours. Its 24-hour low and high are $0.61 and $0.73, indicating notable fluctuations.

Besides, the hourly time frame charts continued stirring investor speculations on cryptocurrency prices today, illustrating mixed actions. Crypto market enthusiasts continue to eye the market for further price action shifts.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Hashdex Files Second Amendment for Nasdaq Crypto Index US ETF Approval

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8 hours ago

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November 26, 2024

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Asset management firm Hashdex has made further progress toward launching a cryptocurrency-focused exchange-traded fund (ETF) in the United States. According to an announcement on Nov. 25, the company has submitted its second amended S-1 application with the U.S. Securities and Exchange Commission (SEC).

Hashdex Second Amendment for Nasdaq Crypto Index US ETF

Hashdex’s latest filing represents another step in its ongoing efforts to secure regulatory approval for the Nasdaq Crypto Index US ETF. The ETF aims to provide investors with exposure to a diversified portfolio of cryptocurrencies.

Initially, the fund will include Bitcoin (BTC) and Ether (ETH), the only two assets currently listed in the Nasdaq Crypto US Index. However, the filing noted that the portfolio could expand to include other digital currencies over time.

The amended filing comes after Hashdex’s initial S-1 application was modified in October when the SEC sought additional time to review the proposal. The SEC has historically been cautious in approving cryptocurrency-related products, and the amended filings demonstrate Hashdex’s ongoing compliance efforts to meet regulatory requirements. Despite the US SEC’s stance, firms have continued to file for Spot exchange-traded fund (ETF) like the latest one by WisdomTree for an XRP ETF.

Growing Interest in Crypto Index ETFs

Crypto index ETFs have emerged as a key area of focus for asset managers as demand for diversified investment products grows. Industry observers compare these ETFs to traditional index funds, such as those tracking the S&P 500, which provide investors with broad market exposure.

“Index ETFs are efficient for investors — just like how people buy the S&P 500 in an ETF. This will be the same in crypto,” said Katalin Tischhauser, head of investment research at Sygnum, a cryptocurrency-focused financial institution.

Hashdex is not alone in its pursuit of a cryptocurrency index ETF. Other asset managers, such as Franklin Templeton and Grayscale, are also seeking approval for similar products. The Franklin Crypto Index ETF would track the CF Institutional Digital Asset Index, which, like the Nasdaq Crypto US Index, currently focuses on Bitcoin and Ethereum. Grayscale’s Digital Large Cap Fund, which holds a basket of cryptocurrencies including Bitcoin, Ethereum, Solana (SOL), and XRP, has also applied for conversion to an ETF.

Potential Regulatory Changes and Market Implications

The regulatory landscape for cryptocurrency ETFs in the United States could shift significantly in the coming months. The SEC’s current Chair, Gary Gensler, has announced plans to step down on Jan. 20, 2025. This timeline coincides with the start of Donald Trump’s second presidential term. Trump, who has expressed a pro-crypto stance, has previously criticized Gensler’s strict approach to cryptocurrency regulation and promised reforms aimed at fostering growth in the sector.

Regulatory analysts suggest that the leadership transition at the SEC may impact the approval process for cryptocurrency-related financial products. Bloomberg ETF analyst James Seyffart stated that approval for index ETFs holding altcoins like XRP and Solana may depend on whether the SEC considers these smaller assets compliant with existing rules.

“Regulatory concerns about altcoins in index ETFs could be reduced if most of the allocation remains in Bitcoin and Ethereum,” Seyffart explained. He added that while there is optimism about these products, the ultimate decisions will likely hinge on the incoming SEC administration’s priorities and approach.

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Kelvin Munene Murithi

Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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John Deaton Calls Out Gary Gensler For Ties With Sam Bankman-Fried

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12 hours ago

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November 25, 2024

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Pro-XRP lawyer John Deaton has questioned the relationship between U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler and FTX founder Sam Bankman-Fried (SBF). Deaton’s comments came in response to the SEC’s announcement of record-breaking financial remedies in its fiscal year 2024 enforcement actions.

John Deaton Accuses SEC of Favoritism Toward Sam Bankman-Fried

In a recent post on X, John Deaton criticized Gary Gensler for holding private meetings with FTX’s Sam Bankman-Fried while denying similar access to U.S.-based crypto executives such as Coinbase CEO Brian Armstrong and Kraken’s Jesse Powell. These actions according to John Deaton demonstrated favoritism by the SEC.

Deaton also pointed to the $10m contribution by Bankman-Fried to politicians as another reason that may have enabled FTX to enter the regulatory talks. The lawyer criticized Gary Gensler, he posed that this financial connection must have been behind the courtesy given to the offshore crypto exchange.

The Pro-XRP lawyer’s criticism comes as SEC Chair Gary Gensler announced he will step down from his position on January 20, 2025. The announcement, made via an SEC press release and confirmed by Gensler in a post on X, coincides with the inauguration of Donald Trump as the 47th president of the United States

SEC Reports Record $8.2 Billion in Financial Remedies

Additionally, the SEC announced it had secured $8.2 billion in financial remedies during fiscal year 2024. This was highest amount recorded by the regulatory body in its history. Despite this achievement, the Commission reported a 26% decline in total enforcement actions compared to the previous fiscal year, filing 583 cases. Of these, 431 were classified as “stand-alone” actions, representing a 14% drop from fiscal year 2023.

Notably, $4.6 billion of the financial remedies stemmed from the SEC’s case against Terraform Labs and its founder, Do Kwon. The judgment accounted for over half of the year’s total recoveries.

Meanwhile, John Deaton has used the SEC’s recent actions to renew his calls for regulatory reform. The pro-XRP lawyer argued recently that the agency’s approach relies on outdated laws to regulate emerging technologies.

In addition, following Gensler’s expected resignation, Deaton has endorsed Brad Bondi as a potential replacement for Gensler. John Deaton cited the need for a clear and fair regulatory framework that fosters innovation in the blockchain.

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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