Crypto stocks have had a mixed performance in the past few months, with some, like IREN and Terawulf, soaring. Others, like Circle, Coinbase, and Digital Asset Treasury (DAT) have all plunged. This article explores some of the top cryptocurrency stocks to watch this week, including Gemini Space Station, Terawulf, and Circle.
Terawulf (WULF)
Terawulf stock price has been in a strong bull run and now holds near its highest point this year. It has jumped by 570% from its lowest level this year, giving it a market capitalization of over $5.27 billion.
Terawulf has benefited from its pivot to the artificial intelligence (AI) industry, where it is offering colocation services. This is a similar business to other companies like CoreWeave and IREN.
Terawulf stock has jumped as Google has become a partner in a $9.5 billion deal. Together with Fluidstack, it will develop a 160 megawatt data center in Texas.
The WULF stock price will be on the spotlight this week as it releases its financial results. Still, the impact will be a bit limited as it has already pre-released these numbers.
The results showed that the company’s revenue will be between $48 million and $52 million, representing a 84% annual increase. Its EBITDA will be between $15 million and $19 million, much higher than the $6 million it made last year.
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Gemini Space Station (GEMI)
Gemini Space Station, the exchange backed by Winklevoss Twins, will also be a top crypto stock to watch this week as it releases its financial results.
These numbers come as the Gemini stock price remains on edge after plunging by 65% from its highest level this year. This plunge has brought its market cap from $3.16 billion to $1.89 billion.
Gemini Space Station has plunged because of its presence in the Bitcoin treasury industry. Most companies in the industry, like Metaplanet and Strategy have all plunged this year.
The company has also underperformed because of the crypto market crash that has affected its transaction revenue. These will be the first numbers since its IPO in September.
Circle (CRCL)
Circle stock price will be in the spotlight as it publishes its second earnings since going public a few months ago. These numbers come as its stock has plunged by over 60% from its highest level this year.
Circle’s USDC market cap has remained at $75 billion in the past few months. Also, interest rates have started coming down, which will affect its revenues.
The other major risk for the Circle stock price will be the upcoming lockup expiry that will allow insiders to sell their shares. It is common for a stock to drop ahead of a lockup expiry.
Other Crypto Stocks to Watch
The other notable crypto stocks to watch this week will be Bitcoin treasuries like Metaplanet and Strategy that have plunged in the past few months. Other companies like Coinbase and Robinhood will also be in the spotlight after their recent earnings.
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