Last Friday’s crypto market selloff triggered by renewed U.S.-China tariffs wiped out more than $20 billion in liquidations, sending shockwaves through the digital asset market and crypto stocks.
However, some crypto assets could rebound this week as the market is showing early signs of recovery and positive sentiment is returning to the crypto market. Here are three U.S. crypto stocks to watch as ecosystem developments fuel potential upward momentum.
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Galaxy Digital Co., Ltd. (GLXY)
GLXY closed last Friday at $39.38, down 7% on the day. The sharp decline reflected broader weakness in the crypto market as a whole, as widespread liquidations weighed on crypto-related stocks.
But the current downturn comes at a pivotal moment for the company. Galaxy recently announced a $460 million strategic investment from one of the world’s largest asset managers, demonstrating financial institutions’ confidence in the company’s long-term prospects.
The transaction consisted of the purchase of 9,027,778 shares from Galaxy and 3,750,000 shares from certain executives, including founder and CEO Mike Novogratz, at a price of $36 per share.
The investment is expected to close this week, subject to regulatory approval from the Toronto Stock Exchange and other customary conditions. For this reason, investors are paying close attention to how GLXY will perform.
In today’s pre-market, GLXY is trading at $40.60. If this new optimism sparks continued buying activity throughout this week, the stock could move higher towards $44.33.
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However, if market sentiment weakens and the selling increases, the stock price could fall below $36.60.
LQWD Technologies Corporation (LQWD)
Last Friday, LQWD Technologies stock fell 5%. Despite the company’s recent business performance, the day’s forced selling and cautious stance weighed on LQWD’s results.
Earlier this month, LQWD Technologies announced the successful completion of a 60-day Lightning Network power test. During the period, the company grew BTC adoption across its global Lightning Network infrastructure to over 47.1 BTC, generating a weighted annual percentage yield (APR) of 8.9%.
CEO Sean Anstey said the company’s new yield approach continues to perform well and shows that as more Bitcoin is used, yield opportunities will expand accordingly.
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If the company’s momentum and investor sentiment strengthens, buying activity could increase and the stock could rebound towards $3.29.
On the other hand, if the decline in cryptocurrencies widens further, LQWD stock could fall further and test the support around $0.91.
Solna Holdings Co., Ltd. (SLNH)
SLNH closed at $2.41 last Friday, down 6% on the day. Despite this decline, crypto stocks are worth paying close attention to this week following major partnership announcements that could impact investor sentiment and price momentum.
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On October 9, the Albany-based green data center developer announced a new hosting agreement with Bitcoin treasury company KULR Technology Group, Inc.
Under the agreement, Soluna will manage approximately 3.3 MW of Bitcoin mining capacity for KULR at its Project Sophie facility in Kentucky. This partnership is significant because it represents Soluna’s first collaboration with a company focused on Bitcoin treasury and marks the expansion of its customer base beyond traditional miners and hyperscalers.
In pre-market trading, SLNH stock rose to $2.54, showing early signs of renewed investor interest.
If this momentum turns into increased buying activity as the trading week continues, the stock could break through the $2.58 resistance and move towards $3.10.
However, if selling pressure increases, the stock could fall towards $2.06 and test the lower support range.
