• bitcoinBitcoin (BTC) $ 109,400.00
  • ethereumEthereum (ETH) $ 2,588.70
  • tetherTether (USDT) $ 1.00
  • xrpXRP (XRP) $ 2.25
  • bnbBNB (BNB) $ 662.11
  • solanaSolana (SOL) $ 152.18
  • usd-coinUSDC (USDC) $ 0.999900
  • tronTRON (TRX) $ 0.286489
  • dogecoinDogecoin (DOGE) $ 0.171883
  • staked-etherLido Staked Ether (STETH) $ 2,585.41
  • cardanoCardano (ADA) $ 0.595682
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 109,411.00
  • hyperliquidHyperliquid (HYPE) $ 39.68
  • wrapped-stethWrapped stETH (WSTETH) $ 3,125.23
  • suiSui (SUI) $ 3.02
  • bitcoin-cashBitcoin Cash (BCH) $ 493.23
  • chainlinkChainlink (LINK) $ 13.66
  • leo-tokenLEO Token (LEO) $ 9.02
  • avalanche-2Avalanche (AVAX) $ 18.76
  • stellarStellar (XLM) $ 0.242578
  • usdsUSDS (USDS) $ 0.999744
  • wethWETH (WETH) $ 2,588.09
  • shiba-inuShiba Inu (SHIB) $ 0.000012
  • the-open-networkToncoin (TON) $ 2.83
  • hedera-hashgraphHedera (HBAR) $ 0.159804
  • wrapped-eethWrapped eETH (WEETH) $ 2,773.46
  • litecoinLitecoin (LTC) $ 88.44
  • whitebitWhiteBIT Coin (WBT) $ 43.76
  • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00
  • moneroMonero (XMR) $ 320.72
  • polkadotPolkadot (DOT) $ 3.53
  • ethena-usdeEthena USDe (USDE) $ 1.00
  • bitget-tokenBitget Token (BGB) $ 4.53
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 109,357.00
  • uniswapUniswap (UNI) $ 7.57
  • pepePepe (PEPE) $ 0.000010
  • aaveAave (AAVE) $ 279.36
  • pi-networkPi Network (PI) $ 0.491932
  • daiDai (DAI) $ 0.999965
  • ethena-staked-usdeEthena Staked USDe (SUSDE) $ 1.18
  • aptosAptos (APT) $ 4.71
  • bittensorBittensor (TAO) $ 335.69
  • okbOKB (OKB) $ 50.00
  • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
  • nearNEAR Protocol (NEAR) $ 2.27
  • jito-staked-solJito Staked SOL (JITOSOL) $ 184.61
  • internet-computerInternet Computer (ICP) $ 4.98
  • crypto-com-chainCronos (CRO) $ 0.082839
  • ethereum-classicEthereum Classic (ETC) $ 16.90
  • ondo-financeOndo (ONDO) $ 0.792845
  • susdssUSDS (SUSDS) $ 1.06
  • usd1-wlfiUSD1 (USD1) $ 1.00
  • kaspaKaspa (KAS) $ 0.077815
  • mantleMantle (MNT) $ 0.584818
  • tokenize-xchangeTokenize Xchange (TKX) $ 24.25
  • gatechain-tokenGate (GT) $ 15.82
  • fasttokenFasttoken (FTN) $ 4.41
  • cosmosCosmos Hub (ATOM) $ 4.16
  • vechainVeChain (VET) $ 0.021892
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.721606
  • official-trumpOfficial Trump (TRUMP) $ 8.86
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 109,089.00
  • skySky (SKY) $ 0.080317
  • arbitrumArbitrum (ARB) $ 0.343782
  • render-tokenRender (RENDER) $ 3.28
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.186718
  • ethenaEthena (ENA) $ 0.275829
  • filecoinFilecoin (FIL) $ 2.39
  • worldcoin-wldWorldcoin (WLD) $ 0.936622
  • quant-networkQuant (QNT) $ 109.09
  • binance-peg-wethBinance-Peg WETH (WETH) $ 2,588.60
  • algorandAlgorand (ALGO) $ 0.180917
  • jupiter-perpetuals-liquidity-provider-tokenJupiter Perpetuals Liquidity Provider Token (JLP) $ 4.51
  • sei-networkSei (SEI) $ 0.265464
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.998578
  • usdtbUSDtb (USDTB) $ 0.999722
  • kucoin-sharesKuCoin (KCS) $ 11.04
  • binance-staked-solBinance Staked SOL (BNSOL) $ 161.50
  • jupiter-exchange-solanaJupiter (JUP) $ 0.462574
  • bonkBonk (BONK) $ 0.000017
  • usdt0USDT0 (USDT0) $ 1.00
  • nexoNEXO (NEXO) $ 1.23
  • fartcoinFartcoin (FARTCOIN) $ 1.21
  • rocket-pool-ethRocket Pool ETH (RETH) $ 2,949.16
  • triniqueTNQ (TNQ) $ 10.26
  • spx6900SPX6900 (SPX) $ 1.29
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 2,711.46
  • flare-networksFlare (FLR) $ 0.016866
  • celestiaCelestia (TIA) $ 1.63
  • injective-protocolInjective (INJ) $ 11.55
  • virtual-protocolVirtuals Protocol (VIRTUAL) $ 1.64
  • polygon-bridged-usdt-polygonPolygon Bridged USDT (Polygon) (USDT) $ 1.00
  • sonic-3Sonic (S) $ 0.327746
  • blockstackStacks (STX) $ 0.684792
  • pudgy-penguinsPudgy Penguins (PENGU) $ 0.016409
  • optimismOptimism (OP) $ 0.571826
  • binance-bridged-usdc-bnb-smart-chainBinance Bridged USDC (BNB Smart Chain) (USDC) $ 1.00
  • mantle-staked-etherMantle Staked Ether (METH) $ 2,766.28
  • xdce-crowd-saleXDC Network (XDC) $ 0.060488
  • kaiaKaia (KAIA) $ 0.165235
  • stakewise-v3-osethStakeWise Staked ETH (OSETH) $ 2,717.89
  • pax-goldPAX Gold (PAXG) $ 3,334.44
  • syrupusdcSyrupUSDC (SYRUPUSDC) $ 1.11
  • solv-btcSolv Protocol BTC (SOLVBTC) $ 109,371.00
  • dogwifcoindogwifhat (WIF) $ 0.923537
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 109,338.00
  • wbnbWrapped BNB (WBNB) $ 662.43
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 2,725.30
  • paypal-usdPayPal USD (PYUSD) $ 0.999799
  • immutable-xImmutable (IMX) $ 0.460870
  • the-graphThe Graph (GRT) $ 0.086935
  • clbtcclBTC (CLBTC) $ 110,450.00
  • story-2Story (IP) $ 2.91
  • tether-goldTether Gold (XAUT) $ 3,325.93
  • vaultaVaulta (A) $ 0.496857
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 170.55
  • flokiFLOKI (FLOKI) $ 0.000079
  • msolMarinade Staked SOL (MSOL) $ 198.51
  • liquid-staked-ethereumLiquid Staked ETH (LSETH) $ 2,797.14
  • pancakeswap-tokenPancakeSwap (CAKE) $ 2.31
  • curve-dao-tokenCurve DAO (CRV) $ 0.529227
  • jito-governance-tokenJito (JTO) $ 2.10
  • theta-tokenTheta Network (THETA) $ 0.716037
  • ousgOUSG (OUSG) $ 111.69
  • lido-daoLido DAO (LDO) $ 0.770650
  • superstate-short-duration-us-government-securities-fund-ustbSuperstate Short Duration U.S. Government Securities Fund (USTB) (USTB) $ 10.73
  • usdx-money-usdxStables Labs USDX (USDX) $ 0.997775
  • galaGALA (GALA) $ 0.014732
  • aerodrome-financeAerodrome Finance (AERO) $ 0.773025
  • zcashZcash (ZEC) $ 40.79
  • ethereum-name-serviceEthereum Name Service (ENS) $ 19.28
  • ondo-us-dollar-yieldOndo US Dollar Yield (USDY) $ 1.10
  • iotaIOTA (IOTA) $ 0.163260
  • wrapped-hypeWrapped HYPE (WHYPE) $ 39.61
  • the-sandboxThe Sandbox (SAND) $ 0.252950
  • walrus-2Walrus (WAL) $ 0.440537
  • jasmycoinJasmyCoin (JASMY) $ 0.012587
  • bittorrentBitTorrent (BTT) $ 0.00000062
  • solv-protocol-solvbtc-bbnSolv Protocol Staked BTC (XSOLVBTC) $ 109,190.00
  • pyth-networkPyth Network (PYTH) $ 0.103256
  • usual-usdUsual USD (USD0) $ 0.997449
  • saros-financeSaros (SAROS) $ 0.222032
  • tezosTezos (XTZ) $ 0.552062
  • pendlePendle (PENDLE) $ 3.51
  • raydiumRaydium (RAY) $ 2.16
  • super-oethSuper OETH (SUPEROETH) $ 2,586.94
  • tbtctBTC (TBTC) $ 109,093.00
  • syrupMaple Finance (SYRUP) $ 0.523967
  • mantle-restaked-ethMantle Restaked ETH (CMETH) $ 2,765.29
  • l2-standard-bridged-weth-baseL2 Standard Bridged WETH (Base) (WETH) $ 2,586.79
  • cgeth-hashkey-cloudcgETH Hashkey Cloud (CGETH.HASH) $ 2,734.03
  • flowFlow (FLOW) $ 0.337433
  • falcon-financeFalcon USD (USDF) $ 0.999907
  • newton-projectAB (AB) $ 0.008008
  • bitcoin-avalanche-bridged-btc-bAvalanche Bridged BTC (Avalanche) (BTC.B) $ 109,496.00
  • coredaoorgCore (CORE) $ 0.515106
  • decentralandDecentraland (MANA) $ 0.269390
  • apecoinApeCoin (APE) $ 0.627244
  • arbitrum-bridged-weth-arbitrum-oneArbitrum Bridged WETH (Arbitrum One) (WETH) $ 2,588.14
  • true-usdTrueUSD (TUSD) $ 0.997376
  • chain-2Onyxcoin (XCN) $ 0.014345
  • thorchainTHORChain (RUNE) $ 1.39
  • ripple-usdRipple USD (RLUSD) $ 0.999632
  • bitcoin-svBitcoin SV (BSV) $ 24.29
  • staked-hypeStaked HYPE (STHYPE) $ 39.63
  • bridged-usdc-polygon-pos-bridgeBridged USDC (Polygon PoS Bridge) (USDC.E) $ 0.999901
  • binance-peg-dogecoinBinance-Peg Dogecoin (DOGE) $ 0.171823
  • kavaKava (KAVA) $ 0.406645
  • morphoMorpho (MORPHO) $ 1.40
  • based-brettBrett (BRETT) $ 0.043998
  • dog-go-to-the-moon-runeDog (Bitcoin) (DOG) $ 0.004324
  • apenftAPENFT (NFT) $ 0.00000044
  • beldexBeldex (BDX) $ 0.060663
  • usddUSDD (USDD) $ 0.999975
  • movementMovement (MOVE) $ 0.163369
  • dexeDeXe (DEXE) $ 7.44
  • starknetStarknet (STRK) $ 0.117734
  • reserve-rights-tokenReserve Rights (RSR) $ 0.007252
  • heliumHelium (HNT) $ 2.26
  • venomVenom (VENOM) $ 0.200151
  • dydx-chaindYdX (DYDX) $ 0.555144
  • hashnote-usycCircle USYC (USYC) $ 1.09
  • mog-coinMog Coin (MOG) $ 0.000001
  • usdbUSDB (USDB) $ 1.00
  • compound-governance-tokenCompound (COMP) $ 43.16
  • stader-ethxStader ETHx (ETHX) $ 2,753.54
  • build-onBUILDon (B) $ 0.401214
  • neoNEO (NEO) $ 5.66
  • elrond-erd-2MultiversX (EGLD) $ 14.04
  • conflux-tokenConflux (CFX) $ 0.076014
  • kaitoKAITO (KAITO) $ 1.61
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 2,588.64
  • axie-infinityAxie Infinity (AXS) $ 2.30
  • deepDeepBook (DEEP) $ 0.151252
  • ecasheCash (XEC) $ 0.000019
  • ketKet (KET) $ 0.373509
  • ether-fiEther.fi (ETHFI) $ 0.991879
  • mantle-bridged-usdt-mantleMantle Bridged USDT (Mantle) (USDT) $ 0.997322
  • aioz-networkAIOZ Network (AIOZ) $ 0.311358
  • ether-fi-staked-btcEther.fi Staked BTC (EBTC) $ 109,170.00

Tom Lee’s Bitmine Surges 3,000% Since ETH Treasury Strategy, but Sharplink’s Plunge Warrants Caution

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Tom Lee's Bitmine Surges 3,000% Since ETH Treasury Strategy, but Sharplink's Plunge Warrants Caution

Bitmine Immersion (BMNR), the ether treasury strategy firm helmed by Fundstrat’s Thomas Lee, is the latest red-hot crypto proxy play in town.

The company’s shares more than doubled on Thursday topping $140, now rallying over 3,000% in less than a week since the firm announced the raising of $250 million by selling shares to acquire ETH.

Tom Lee's Bitmine Surges 3,000% Since ETH Treasury Strategy, but Sharplink's Plunge Warrants Caution

The private placement offering, priced at $4.50 per share and due to close today, attracted institutional investors including Founders Fund, Pantera, FalconX, Kraken, Galaxy Digital, DCG.

At its core, Bitmine is positioning itself as a publicly traded proxy for ether exposure, similar to how Michael Saylor’s Strategy (MSTR) became a leveraged bitcoin bet. The approach has gained traction recently as investors look for new ways to access crypto through public equities.

The firm originally focused on crypto mining using immersion cooling and held $16 million in bitcoin prior to the fundraising.

Sharplink déjà vu

But a similar crypto treasury stock’s rapid rise and fall may offer a cautionary tale.

The parabolic rise in BMNR mirrors the trading behavior of Sharplink Gaming (SBET), another public company that repositioned itself as an ETH treasury firm last month under the leadership of Consensys co-founder Joseph Lubin.

Sharplink soared as much as 4,000% in days following its $450 million fundraising announcement. Shares since plunged over 90% from peak as the firm closed its ETH acquisition and early investors in the private placement sold stock locking in their profits.

Bitmine’s valuation, with a market capitalization over $800 million at current prices, already prices in aggressive assumptions about the firm’s future ETH gains.

Retail investors chasing the momentum should tread carefully.



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