3 Crypto Stocks Exploding in Trading Volume: Galaxy Digital (GLXY), Bitfarms (BITF), and HIVE to Watch in 2024
Tap Into the Crypto Boom Without Buying Coins Directly
Want to ride the wave of cryptocurrency growth but prefer the safety of traditional stocks? Crypto stocks are your answer. These are shares in public companies deeply involved in blockchain, mining, trading, and digital assets. They offer exposure to crypto’s upside while trading on major stock exchanges like the TSX or NASDAQ.
Today, three stocks are stealing the spotlight with massive surges in trading volume:
What Are Crypto Stocks and Why Do They Matter Now?
Crypto stocks represent companies that mine Bitcoin, manage digital assets, run exchanges, or hold crypto on their balance sheets. Unlike buying Bitcoin directly, these stocks come with company fundamentals like earnings reports, management teams, and regulatory oversight.
The market is buzzing for good reasons:
- Bitcoin ETFs Approval: Spot ETFs have brought billions in new money, lifting miners and related firms.
- Bitcoin Halving: The recent halving cut new Bitcoin supply, pushing prices higher and rewarding efficient miners.
- Institutional Adoption: Big players like BlackRock are piling in, boosting related stocks.
Trading volume is a key metric. It shows how much money is flowing in. These three top the charts in dollar volume, beating out many peers.
: The All-Round Crypto Powerhouse
Founded by Wall Street veteran Mike Novogratz, Galaxy Digital Holdings (GLXY) is a leader in the crypto space. It operates across trading, asset management, mining, and venture investments. Key business lines include:
- Global Markets: Crypto trading and lending.
- Asset Management: Funds for institutions.
- Mining: Bitcoin mining operations.
- Investment Banking: Advising crypto firms on deals.
Why the volume surge? Traders see GLXY as a bet on crypto’s recovery. With Bitcoin above $60K recently, Galaxy’s trading desk and holdings amplify gains. The company holds significant Bitcoin, creating leveraged exposure. Recent expansions into DeFi and stablecoins add growth potential.
Pro Tip: Monitor GLXY’s quarterly Bitcoin holdings. More BTC means bigger upside if prices rally. Analysts eye 50%+ gains if crypto hits new highs.
: Pure-Play Bitcoin Miner with Global Reach
Bitfarms Ltd. (BITF) is a dedicated Bitcoin miner with facilities in low-cost regions: Canada, the US, Paraguay, and Argentina. They use high-efficiency rigs to validate transactions and earn block rewards.
Volume explosion on BITF reflects post-halving optimism. Fewer new Bitcoins mean scarcity, driving prices up. Bitfarms’ diverse locations reduce risks from energy prices or regulations in one area. Recent upgrades to newer ASIC miners have slashed costs per Bitcoin mined by 20-30%.
Standout stats:
- Hashrate: Over 10 EH/s and growing.
- Expansion: New 200MW site in Paraguay.
- Profitability: Strong even at $50K BTC.
BITF shines when mining difficulty rises but Bitcoin value holds. It’s a top pick for miners betting on the next bull cycle.
: Green Mining Meets AI Data Centers
HIVE Digital Technologies (HIVE) mines Bitcoin, Ethereum Classic, and others using renewable energy in Canada, Sweden, and Iceland. Cheap hydro and geothermal power keeps costs low. Beyond mining, HIVE builds data centers and eyes high-performance computing (HPC) for AI.
The volume jump shows investor trust in HIVE’s pivot. As AI demand explodes, their infrastructure could generate new revenue streams. HIVE’s green focus appeals to ESG investors, and their hashrate has doubled in the past year.
Key advantages:
- Low energy costs: Under 3 cents per kWh.
- Diversification: Mining + data centers.
- Growth: Plans for 25 EH/s by 2025.
HIVE positions itself as a tech play, not just a miner.
Why These 3 Lead in Trading Volume
Volume isn’t random. Here’s why
| Stock | Recent Volume Surge | Key Driver |
|---|---|---|
| GLXY | 300%+ weekly | Crypto trading rebound |
| BITF | 250% spike | Halving efficiency |
| HIVE | 200% increase | AI pivot buzz |
High volume means easier buys/sells and less price slippage. It often precedes big moves.
Risks to Keep in Mind
Crypto stocks are volatile. Watch out for:
- Bitcoin Price Drops: Hurts miners’ revenues.
- Energy Costs: Rising power prices squeeze margins.
- Regulation: New rules could impact operations.
- Competition: Hashrate wars among miners.
Diversify! Mix these with stable assets like tech giants or ETFs.
The Road Ahead: 2025 and Beyond
With ETF inflows, nation-state Bitcoin buys, and Web3 growth, 2025 could be explosive. These stocks offer front-row seats to the action. Track earnings calls, hashrate updates, and BTC price.
Action Steps:
- Add GLXY, BITF, HIVE to your watchlist.
- Use tools like TradingView for volume charts.
- Follow crypto news for catalysts.
Final Thoughts
Stay tuned for more crypto stock insights.
