Yesterday, SBET experienced a significant drop. Besides the ongoing stock issuance and market sell-off by the old brother, another major factor is Cathie Wood's Ark Invest fund, which is selling Coinbase and buying its competitors, including BMNR, which competes with the leading MicroStrategy, $ETH .

Compared to SBET, these are a group of cryptocurrency institutions and members, and it seems that Wall Street is more optimistic about the company formerly from JPMorgan, known for the well-known commentator Thomas Lee's stock calls.