Crypto treasuries lead stock recovery after shaky start to December

Digital asset treasuries (DATs) are leading a crypto stock recovery as markets rebound following a significant leverage flush at the start of the month.

Ether recovered strongly on Tuesday, including Nasdaq-listed EthZilla (ETHZ), which gained 12.35% on the day to $10.80 in after-hours trading, to Google Finance. 

The world’s largest Ether () treasury, BitMine — which has reportedly been buying the dip this week — also saw double-digit stock gains on Tuesday, with BMNR climbing 10.26%. 

BitMine shares reached $32.40 in after-hours trading, up more than 650% since it announced its Ether strategy in late June. 

Meanwhile, the top-performing crypto stock of the day was mining and crypto investment firm Thumzup Media Corp (TZUP), which gained 13.25% on the Nasdaq on Tuesday. 

Bitcoin DAT stocks slower to recover 

Several listed altcoin treasury companies also outperformed their Bitcoin () counterparts as the crypto market recovered. 

(GDC), which is a virtual content production business and TRUMP memecoin treasury, saw its stock gain 11.4%, while Solana () treasury (HSDT) notched a 9.36% gain on the day, and Sui Group Holdings (SUIG) made 7.7%. 

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The world’s largest crypto treasury, Michael Saylor’s (MSTR), saw a modest 5.78% gain on the day with share prices hitting an intraday high of $188 during the Tuesday trading session.

Strategy stock is down 37.4% since the beginning of the year, with most of its losses coming since the mid-October crypto market reversal. 

BitMine buying the dip again 

BitMine has reportedly been buying Ether during the dip this week, scooping up an additional 7,080 ETH worth $19.8 million on Monday and 18,345 ETH worth around $55 million on Tuesday, to Lookonchain and Arkham Intelligence.

However, these purchases have not been officially confirmed by the company. 

Ether prices rebounded to reach a five-day high of $3,060 in early trading on Wednesday morning. 

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