Altcoin treasury strategies are quickly becoming one of the strongest catalysts of this bull cycle.
Treasury firms like BitMine, SharpLink Gaming and The Ether Machine played a key role in ETH’s explosive rally in July and August.
Now, the Cronos (CRO) price up over 90% since Tuesday after the Trump Media & Technology Group announced its CRO treasury strategy in partnership with Crypto.com and Yorkville.
The publicly-traded Trump Media Group CRO Strategy (MCGA) outlines an expected $1 billion allocation in CRO (6.31 billion tokens, about 19% of the supply at announcement), backed by $200 million in cash, $220 million in warrant proceeds, and a $5 billion equity line of credit from Yorkville affiliate YA II PN, Ltd.
Similarly, the Hyperliquid price hit a new all-time high on Wednesday behind the blockchain’s rapidly growing adoption as well as the token’s rising corporate treasury demand.
HYLQ Strategy (HYLQ), the first publicly-traded company to add $HYPE to its corporate treasury, recently announced its has closed the first tranche of its financing round, raising $5 million in proceeds to buy HYPE.
Besides Ethereum treasury stocks like BMNR and SBET, MCGA and HYLQ are emerging as two of the best cryptos stocks to buy.
The Cronos price has rallied by over 90% since Tuesday to peak at $0.293, its highest level in over 3 years, before a marginal pullback. It is currently trading at $0.266.
Trump Media’s new treasury play has made CRO the 19th largest crypto asset on CoinMarketCap, with a market capitalization of nearly $9 billion.
Investors appear to front-running the massive buying pressure that will soon be created by the Trump Media Group CRO Strategy.
The Trump Media Group has $200 million in SPAC cash reserved for CRO purchases. In addition, the Group, Crypto.com, and Yorkville will contribute $220 million through mandatory warrants earmarked for $CRO investments. Yorkville will also extend a $5 billion credit line to further accelerate the CRO treasury strategy.
The funding package also includes $1 billion worth of CRO, equivalent to 6.31 billion tokens, or about 19% of the asset’s market cap at the time of announcement.
Moreover, Cronos will now become the native token of Truth Social, US President Donald Trump’s own social media platform.
Despite CRO’s explosive rally, sidelined investors aren’t too late. However, they should wait for a weekly close above the $0.26 support level.
The Hyperliquid price hit a fresh all-time high on Wednesday, trading as high as $51.07. The blockchain’s rapid adoption is playing a key role is its token’s rally. In July, Hyperliquid’s $330 billion trading volume surpassed that of brokerage giant Robinhood.
Meanwhile, new treasury companies like HYLQ Strategy are expected to further increase the bing pressure on HYPE.
However, experts believe that HYPE still has significant upside potential. Many analysts believe that a weekly close above the $50 level would confirm a bullish continuation, hinting at the possibility of $100 this year.
MCGA and HYLQ stand out as two of the best crypto stock plays, driven by the high-upside potential of the assets they are accumulating, Cronos and Hyperliquid.
Ethereum treasury firm BitMine’s Chairman Tom Lee reveals that that MicroStrategy’s stock surged over 35x since 2020, far outpacing Bitcoin’s roughly 8x gain, thanks to its treasury strategy.
He believes Ethereum treasury stocks could see a similar multiplier effect, as both the asset and token-per-share exposure grow together. MCGA and HYLQ have the same bullish thesis.
Cronos could become one of the top 10 crypto assets on the market, owing to the strong buying pressure created by the Trump Media Group CRO Strategy. Unsurprisingly, MCGA could see significant growth as well.
Meanwhile, Hyperliquid still has the potential to offer 2x returns this year itself. Unsurprisingly, the first $HYPE treasury stock, HYLQ, stands to benefit significantly from its appreciation, especially with just 11.74 million shares outstanding and a float of 4.69 million.
HYLQ Strategy recently closed its first $5 million tranche of a private financing. With just 11.74 million shares outstanding and a small 4.69 million share float, the company’s tight supply allows it to raise significant additional capital at low dilution.
The HYLQ stock price is already up by nearly 100% year-to-date and over 400% over the past year.
