Crypto Stocks Lose Steam After 500% Surge
Crypto equities, which had strongly outperformed Bitcoin over the past 18 months, are now showing signs of fatigue.
Amidst a broader market pullback, investors appear to be fleeing riskier corners of the market.
No IPO, No Catalyst
After a stellar 18-month run, crypto equities are beginning to lose momentum relative to Bitcoin, according to the latest report shared by Matrixport. The 10x Research Crypto Stocks Index surged as much as 500% during the period, far outpacing Bitcoin’s 117% gain.
However, recent corrections in key names like Strategy, Coinbase, and Metaplanet have pushed the index lower, which is now resting at 427%. Adding to the slowdown, Circle’s IPO, which was initially well-received, failed to…
