Solid H1 rally, increased regulatory clarity, upcoming ETH ETF, and expected Fed rate cuts are key catalysts for H2 2024miners stocks emerged as the biggest winners in the first half of the year, led by MicroStrategy’s stock , which posted triple-digit gains.“MicroStrategy led with a 380% rise in stock price, driven by its 214,000 Bitcoin holdings now worth $13.3bn, purchased at an average cost of $35,158. These holdings have earned the company approximately $6.54bn since 2020.
Crypto mining stocks also recorded a remarkable recovery. After April’s halving event, stocks like Hut 8 Corp and Bitfarms Ltd rallied by 86% and 34%, respectively, outperforming the king coin. For its part, over the same period, it fell by 3.2%.As far as spot BTC ETFs are concerned, the report noted that the products have ‘enhanced institutional adoption.’ These products have attracted,
“$14.41billion in inflows and pushing the total net assets to $53.56bn. These ETFs now represent about 4.4% of Bitcoin’s total market cap. The IBIT ETF alone has drawn nearly $17.64bn, capturing over 1.5% of Bitcoin’s market cap.”Massive growth was seen in the centralized exchange sector too, with the first half netting an aggregate spot volume of $10.6 trillion – A 145% hike from H2 2023.“Bitget, Crypto.com, and Bybit have seen the largest increases of 38.4%, 24.6%, and 22.
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