EddieJayonCrypto

 19 Jul 24

tl;dr

21Shares has launched the Injective Staking Exchange-Traded Product (ETP) - AINJ, allowing investors to access the crypto market through traditional financial channels and gain exposure to Injective staking rewards. AINJ is available on traditional exchanges such as Euronext Amsterdam and Euronext P...

21Shares has introduced the Injective Staking Exchange-Traded Product (ETP) – AINJ. This product aims to enable investors to engage in the crypto market via traditional financial avenues. Investors will also get exposure to Injective staking rewards. AINJ allows investors to buy into the Injective token (INJ) through traditional exchanges and brokerage, simplifying the typical complexities associated with crypto investments. AINJ is trading on Euronext Amsterdam (AINJ NA) and Euronext Paris (AINJ FP) exchanges.

AINJ is a physically backed ETP, meaning it holds actual INJ tokens in cold storage. This setup offers investors direct exposure to INJ’s performance without direct ownership or the security risks tied to it. Additionally, the ETP captures staking yields from the INJ staking process, which secures the Injective network and reinvests them, potentially boosting investor returns.

The ETP sector is growing, with more investors seeking exposure to diversified assets through instruments that combine the liquidity and ease of trading of stocks with the advantages of mutual funds. AINJ fits neatly into this category, providing a regulated way to invest in digital assets. It stands alongside a selective group of crypto assets that have associated ETPs.

Despite its potential to draw significant institutional interest, the market reaction has been muted. INJ’s price rose just 2.7% in the last 24 hours, now trading at $26.51. 21Shares has also filed for a Solana ETF with the US Securities and Exchange Commission (SEC). Hence, some speculate that the more institution-friendly products like ETPs will lead to an Injective ETF. However, it is worth noting that 21Shares has introduced ETPs for over 40 altcoins. Hence, an ETF might not be the immediate next step.

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Iris Energy Ltd

Sector: Technology

Industry: Services - Computer Processing & Data Preparation

Revenue: $2,103,717,000

EPS: $-0.06

PE Ratio: 2.179

ROE: -0.0532

Volume: 165,535,000

Market Cap: $16.93

Dividend Yield: 0%

Beta: 3.798

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Stock Market Analysis: C3 Ai Inc (C3)

C3 Ai Inc (C3) operates in the Technology, Services-Prepackaged Software sector with a market value of $3,634,700,000.

The stock exhibited a price change of -2.34, closing at $29.35. The Relative Strength Index (RSI) stands at 2.602, indicating a bearish trend. The stock's volatility is at -0.901.

With a trading volume of 310,582,000, C3 faces a resistance level at $29.35. The stock shows no clear breakout indication and a potential support level at $29.15.

Caution is advised as the stock's performance suggests a bearish trend with a slight incline of 0.196.

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Stock: Core Scientific Inc. Common Stock

Description: Core Scientific, Inc. provides blockchain and artificial intelligence (AI) infrastructure services in the United States. The company is headquartered in Austin, Texas.

Sector: Technology

Industry: Services-Computer Processing & Data Preparation

Market Cap: 542,047,000

Dividend Yield: None

Price to Earnings (P/E) Ratio: None

EPS: 1.323

Profit Margin: -0.491

Revenue: 502,400,000

Debt to Equity: 6.75

Return on Equity: 0

Price to Book (P/B) Ratio: 0.171

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Riot Blockchain Inc Summary

Riot Blockchain Inc Summary

Riot Blockchain, Inc. focuses on the cryptocurrency mining operation in North America. The company is headquartered in Castle Rock, Colorado.

Industry

Life Sciences, In Vitro & In Vivo Diagnostic Substances

Financial Data

Market Cap: 3162196000

Stock Price: 26.07

Dividend Yield: None

P/E Ratio: 0.42

EPS: 1.448

Beta: 0.501

Volume: 286738000

Revenue: 17.91

Net Income: 6.36

EBITDA: 0.083

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Bitfarms Ltd Stock Analysis Summary

Company: Bitfarms Ltd

Sector: Technology

Industry: Services-Computer Programming, Data Processing, etc.

Market Cap: 1,227,009,000

Dividend Yield: None

P/E Ratio: None

EPS: -0.4

ROE: 0.577

ROI: -0.638

Volume: 166,633,000

Current Ratio: 3.94

Quick Ratio: 0

LT Debt/Equity: 0.674

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Company: Marathon Digital Holdings Inc

Description: Marathon Digital Holdings, Inc. is a cryptocurrency mining digital asset technology company with a focus on the blockchain ecosystem and digital asset generation in the United States. The company is headquartered in Las Vegas, Nevada.

Industry: Real Estate & Construction, Patent Owners & Lessors

Market Cap: 7225208000

Price: 15.97

Dividend Yield: None

P/E Ratio: 1.6

EPS: 2.402

Beta: 0.956

Volume: 501574000

Prev. Close: 23.56

Short Ratio: 0.764

Book Value: 2.231

Disclaimer

The opinions expressed by the writers at Grow My Bag are their own and do not reflect the official stance of Grow My Bag. The content provided on our site is not intended as investment advice, and Grow My Bag is not an investment advisor. We do not endorse buying or selling any cryptocurrencies or digital assets mentioned in our articles. High-risk investments in Bitcoin, cryptocurrencies, and digital assets require thorough due diligence, and all transfers and trades made are at your own risk. Grow My Bag is not responsible for any potential losses and participates in affiliate marketing.
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