Cryptocurrencies
Crypto Stocks Get Boost From Retail Traders Who Drove Meme Craze
- Individuals buy $1 billion of crypto stocks in 10-day span
- Crypto stocks are on track for best month since February 2021
Photographer: Sheldon Cooper/SOPA Images/LightRocket/Getty Images
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Retail traders, responsible for the wild price swings in everything from GameStop Corp. to Revlon Inc., have returned to another old favorite: beaten-down cryptocurrency stocks.
Over the last 10 days, they have scooped up nearly $1 billion worth of shares of crypto-exposed companies, according a report published Wednesday by VandaTrack. That rapid burst of buying has led to stocks including Marathon Digital Holdings Inc., Coinbase Global Inc. and Riot Blockchain Inc. showing up among the most bought assets on Fidelity’s platform this week.