South Korean retail investors are shifting their money from U.S. Big Tech giants to high-risk, high-reward crypto-related stocks. 📈
According to KCIF data, crypto-linked stocks in the top 50 most-bought list jumped from just 8.5% in January to a massive 36.5% in June (now at 31.5% in July). Meanwhile, interest in U.S. Big Tech dropped sharply — net purchases fell to $260M in July, down 84% from the earlier monthly average of $1.68B. $BTC
One big reason? Growing acceptance of stablecoins worldwide and the recent U.S. GENIUS Act. Among the winners of this trend is BitMine Immersion Technologies, an Ether-stacking giant. South Korean traders poured $259M into BitMine in July, making it the most-bought overseas stock. $USDC
BitMine boosted its ETH holdings by 410.68% in the last 30 days to 833,100 ETH, now worth nearly $3.6B after ETH surged past $4,300.
$ETH Ethereum co-founder Vitalik Buterin supports companies holding ETH but warns against overleveraging — saying too much debt could trigger a chain of liquidations if ETH’s price drops. Still, he’s optimistic that ETH investors can keep things stable and maybe even spark a new ‘DeFi Summer 2.0’. 🌐
#Ethereum #CryptoStocks #CryptoNews