Biotech Stock Plunges on Bitcoin Plans as Ethereum Treasuries Stay Hot

Key Points

1. Bitcoin hit a new peak price of $122,882, surpassing its previous record, while Ethereum was trading at $4,763, nearing its all-time high of $4,878.

2. Ethereum's strong gains (up 58% this month and 75% over the past year) are attributed to investor momentum and regulatory optimism, while Bitcoin's gains have been more muted (up 2% over the past month).

3. Ethereum-based treasury firms like ETHZilla (180 Life Sciences), BitMine Immersion, and SharpLink Gaming saw significant stock price increases (211%, 48%, and 8% respectively over five trading days).

4. Tech billionaire Peter Thiel purchased a 7.5% stake in 180 Life Sciences (rebranded as ETHZilla), causing its stock to surge.

5. OKB, the native token of OKX, hit a new all-time high after OKX announced plans to reduce its supply by burning 65 million tokens.