Asian crypto stocks surge amid Trump-fueled rally
Quick Take Hong Kong’s OKG Tech saw its stock jump 42.6% at Monday’s close. Japan’s Metaplanet closed up 21.15%. The broader stock markets in Asia experienced mixed performances today.
Cryptocurrency-related stocks in Asia saw significant gains on Monday amid a broader crypto market rally fueled by U.S. President Donald Trump's Sunday social media posts about establishing crypto reserves.
Shares of Japan's Metaplanet closed up 21.15% on Monday, surging to 4,010 yen from the previous close of 3,310 yen within the first hour of trading upon opening. The company also announced on Monday that it acquired an additional 156 BTC ($13.4 million) to expand its total holdings to 2,391 BTC.
Hong Kong-based crypto firm OKG Tech saw its stock jump 42.6% today, closing at HK$0.184.
Boyaa Interactive, a Chinese game developer and Asia's largest public corporate holder of bitcoin, saw its Hong Kong-listed shares rise 23% to close at HK$4.17 on Monday. Boyaa announced on Sunday that it bought an additional 100 BTC for $7.95 million, boosting its total holdings to 3,350 BTC.
Japan’s benchmark Nikkei 225 added 1.7% on Monday, while South Korea’s Kospi fell 3.39%. Hong Kong’s Hang Seng index remained nearly flat, edging up 0.29%. The Shanghai Composite index inched down 0.12% today.
The surge in Asian crypto stocks coincided with a broader crypto market rally that extended from Sunday, following Trump's social media posts announcing the possible inclusion of SOL, XRP and ADA in the U.S. crypto reserve alongside bitcoin and ether.
Bitcoin traded up 6.9% over the past 24 hours at $92,326 at the time of writing, after surging beyond the $94,000 level at one stage earlier today, according to The Block's Bitcoin price page .
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
IoTeX launches the world's first on-chain identity solution ioID designed specifically for smart devices
ioID is revolutionizing identity management for smart devices, allowing DePIN to authenticate devices, protect data, and unlock next-generation application scenarios within a user-owned ecosystem compatible with any blockchain.
Mars Morning News | Last week, global listed companies made a net purchase of $13.4 million in BTC, while Strategy did not buy any Bitcoin last week
Expectations for a Federal Reserve interest rate cut in December have risen, with Bitcoin briefly surpassing $89,000 and the Nasdaq surging 2.69%. There are internal disagreements within the Fed regarding rate cuts, causing a strong reaction in the cryptocurrency market. Summary generated by Mars AI. This summary is generated by the Mars AI model and its accuracy and completeness are still being iteratively updated.
The covert battle in the crypto industry escalates: 40% of job seekers are North Korean agents?
North Korean agents have infiltrated 15%-20% of crypto companies, and 30%-40% of job applications in the crypto industry may come from North Korean operatives. They act as proxies through remote work, using malware and social engineering to steal funds and manipulate infrastructure. North Korean hackers have stolen over $3 billion in cryptocurrency to fund nuclear weapons programs. Summary generated by Mars AI. This summary is generated by the Mars AI model, and its accuracy and completeness are still being iteratively improved.
Which targets are Wall Street short sellers eyeing? Goldman Sachs reveals the short-selling undercurrents amid the AI wave
Data shows that short selling in the US stock market has reached a five-year high. However, investors are not recklessly challenging AI giants; instead, they are targeting so-called "pseudo-beneficiaries"—companies that have surged on the AI concept but lack core competitiveness.
Trending news
MoreCrypto prices
More
