Few circulated reports claim that the billion-dollar valued GameStop is planning to hold Bitcoin. It is worth noting that the information was 1st leaked by three insiders who were aware of the matter.
After the news caught the mainstream attention, GME stock closed with a surge of 1.35%, and in the 52-week frame, it traded highest at $64.83 and lowest at $9.95. It is worth noting that the stock price grew roughly 5.30% in the weekly frame.
The speculation is speculations yet, GameStop hasn’t confirmed or announced its plan to hold Bitcoin. Some publicly listed companies have already added BTC to their investment portfolio.
Company chaired by M. Saylor holds the highest Bitcoin with Marathon Digital at 2nd position, Galaxy Digital, Tesla, Coinbase, HUT8, Cipher, and Metaplanet. Since the past few months, a new trend of Bitcoin holding has been seen among Asian companies.
GME stock struggles below 20 days EMA
Until publishing, the trading price of GME stock was below 20 days EMA of $26.68 and at the same time above 50, 100, and 200 days EMA. If the bullishness in GME stock remains for the next few sessions, it might surpass $30.
In the next 40 days, GameStop stock is expected to perform well it is expected to release its revenue and earnings. GME’s market cap was $11.76 billion, which was $14 billion in the previous year, at a time in 2021, grew around 501 percent, reaching a new height.
If GME stock continues to grow, it is expected to soon surpass the resistance of $32.29, followed by the nearest resistance of $34.20; however, GME’s nearest support is $26.13 and $24.22.
Several available reports, including GameStop and several other gaming companies, have been given opportunities in the blockchain industry, with some of them already operating their platforms.
Will GameFi grow to new heights in 2025?
With the growing application of decentralized technology, the total number of crypto-based projects has surged, with hundreds of new GameFi projects, and at the same time, the market is expected to reach $126 billion by 2030.
In very simple terms, GameFi is the concept of mixing traditional gaming and finance using blockchain technology to help gamers gain exposure to digital assets by showcasing their skills.
When writing, the crypto market capitalization was $3.2 trillion with a trading volume of $102.21 billion, which fell around 21.07 percent.
At the same time, Bitcoin was exchanging hands at $96,681 with a decline of 1 percent in a week, and market capitalization was $1.91 trillion.
The gainers in the 24-hour are Kaspa, Jupiter, Helium, XRP, Litecoin, and Cardano. Pancakeswap, BNB, Virtual Protocol, Bitget Token, Bittensor, and Curve DAO are the losers in the same frame.
Fear and greed index was at 38, reflecting fear, Bitcoin dominating at 59.9 percent, Ethereum at 10.2 percent, and the rest holding at 29.9 percent.
