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On Monday, August 11, the US stock market ushered in an unprecedented Crypto concept stock trading frenzy.Many crypto concept stocks represented by the ETH strategic reserve model are rapidly swallowing up the liquidity of the US stock market, forming a “perfect storm”.
BitMine trading volume ranks among the top ten U.S. stocks
On the same day, BitMine ($BMNR) reached 7th in the United States with a record high of US$92.72 billion, with a turnover rate of 142.54%, second only to the following major technology giants:
Tesla $TSLA — $36 billion
NVIDIA $NVDA — $25.2 billion
Apple $AAPL — $14 billion
AMD $AMD — $12.3 billion
Microsoft $MSFT — $10.5 billion
Palantir $PLTR — $10.3 billion
BitMine even surpassed Eli Lilly $LLY ($7.2 billion), Amazon $AMZN ($7 billion), Meta $META ($5.8 billion) and Google $GOOGL ($5.1 billion).
Crypto Legion attacks in full swing
In addition to BitMine, many other Crypto concept stocks also performed well:
Coinbase ($COIN): Transaction volume of US$4.7 billion, ranking 12th in the United States;
Strategy ($MSTR): Transaction volume of US$4.2 billion, ranking 15th;
SharpLink Gaming ($SBET): Transaction volume is US$2.8 billion, ranking 21st, with a turnover rate of 87.92%;
Circle ($CRCL): Transaction volume of US$1.9 billion, ranking 33rd, second only to TSMC $TSM ($2 billion).
It is worth noting that non-pure Crypto companies such as Robinhood ($HOOD) have also entered the trading active list due to their digital asset business.
ETH strategic reserve model moves to mainstream
One of the core driving forces of this round of market is the ETH strategic reserve model represented by BitMine ($BMNR) and SharpLink Gaming ($SBET).
This model evolved from Michael Saylor’s BTC treasury strategy, but switched the main battlefield to Ethereum.
With the fluctuation of Ethereum prices, the implementation of ETF products, and the increase in institutional holdings, this track is heating up rapidly.
Logic behind “Perfect Storm”
Judging from the trading volume ranking, Crypto concept stocks have ranked alongside top assets in US stocks such as Tesla and Nvidia, and even surpassed some traditional technology leaders.This means:
Funds are actively migrating: Some liquidity shifts from traditional technology stocks to Crypto concept stocks
Highly active market sentiment: high turnover rate means frequent speculation and arbitrage opportunities
Narrative-driven + funding promotion: multiple factors such as treasury strategy, ETF expectations, and on-chain data resonate
As more listed companies include crypto assets into their balance sheets, the trading activity of Crypto concept stocks is expected to further increase, and the “digital assetization” of the US stock market is accelerating.
