While the crypto market has been stuck in consolidation over the past few weeks, US equities continue to climb.
On Thursday, all major US stock indexes, including the S&P 500, Nasdaq, Dow Jones, and Russell 2000, notched fresh record highs.
Rather than sitting on the sidelines, smart money has been rotating into crypto stocks. The rapid growth of digital asset treasury firms has opened up new equity-market pathways to crypto exposure, offering diversification as well as outsized returns in some cases.
For instance, MicroStrategy (MSTR) stock has appreciated by 42x from the start of its Bitcoin strategy to its all-time high. In the same period, Bitcoin climbed nearly 11x, rising from $11,200 to $124,500.
In addition, crypto mining stocks and shares of influential companies in the sector offer attractive investment opportunities.
With US equities poised for a bullish Q4, crypto stocks are emerging as an appealing option for investors seeking both diversification and the potential for outsized growth.
Best Crypto Stocks To Buy
HYLQ Strategy Corp (HYLQ)
HYLQ Strategy is a Canadian Stock Exchange-listed Hyperliquid treasury firm.
It offers investors a rare blend of exposure: it holds the native asset of the Hyperliquid ecosystem, HYPE, invests in projects built on Hyperliquid, and raises capital through equity and warrants to scale its digital asset strategy.
It recently closed an $8 million private placement and acquired an additional 5,000 HYPE tokens at an average price of ~$52.47, bringing its total holdings to ~38,961 HYPE.
Notably, Hyperliquid is one of the top crypto investments during this bull cycle. It is already the 11th largest cryptocurrency with a market capitalization of nearly $19 billion.
The HYPE price hit a new all-time high on Thursday, while most large-cap assets are still struggling to break out from key resistance levels. Currently trading at $56.60, there is a growing consensus among experts that Hyperliquid will hit $100 this year.
With HYLQ offering a publicly listed exposure to HYPE, it is no surprise that it tops our list of best crypto stocks to buy. It is already up by more than 640% over the past year and has emerged as an attractive multi-bagger.
Sol Strategies (HODL)
SOL Strategies is a publicly listed digital asset treasury company that invests in Solana and operates validator infrastructure to generate long-term value.
As per the August 31st data, SOL Strategies holds a Solana treasury of roughly 435,000 SOL, valued at around $144 million CAD.
It still has significant resources to expand its SOL holdings, including a USD $500 million convertible note facility with ATW Partners, a $25 million facility from former Chairman Antanas Guoga, and a $30 million financing commitment from ParaFi Capital.
In addition, its validator infrastructure manages more than 3 million delegated SOL worth over $750 million, generating staking rewards and becoming a major player in the Solana network.
Notably, Sol Strategies has become the first Solana-focused public company to be cross-listed on the Nasdaq Global Select Market, trading under the ticker STKE.
The HODL stock is up by nearly 500% over the past year. While it has seen a significant drop over the past few months, it has now reached a key support zone between $8.20 and $9.14 and is poised for a bullish reversal.
Even Cantor Fitzgerald has assigned Sol Strategies an “overweight” rating with a price target of C$54, implying more than a 500% upside from its current trading price of around $8.85.
Coinbase (COIN)
Coinbase is undoubtedly one of the best crypto stocks to buy now, owing to its booming USDC stablecoin revenue, favourable pro-crypto legislation, diversified income streams beyond trading, and easing regulatory headwinds.
Earlier this week, the SEC approved generic listing standards for spot crypto ETFs, enabling securities exchanges to list ETFs tied to assets with regulated futures on Coinbase, a move that provides the company with added credibility and a significant boost in stature.
The $COIN stock price surged by 7% on Thursday, hitting the $350 mark. It has successfully retested an inverse head-and-shoulder pattern, a move that could send the price to $520 in the coming weeks.
Circle (CRCL)
Circle (CRCL) has emerged as a top crypto stock candidate, backed by its role as the issuer of USDC, the second-largest stablecoin.
Recent pro-stablecoin legislation has given Circle a clear regulatory framework, strengthening its credibility while positioning it for continued growth and a potential U.S. stock market listing.
The CRCL price is up by nearly 7% on Thursday, trading as high as $140.
Notably, Circle now faces a key resistance zone between its 0.65 and 0.618 Fibonacci levels, $146 and $154, respectively. A breakout here could give the price targets of $181, $209 and $243.
Riot Platforms (RIOT)
Riot Platforms’ stock has surged nearly 50% over the past month, driven by a combination of stronger Bitcoin production, bullish analyst sentiment, and rising crypto market momentum. Unsurprisingly, RIOT rounds up our list of best crypto stocks to buy.
The company reported a 48% year-over-year increase in Bitcoin mined during August, highlighting greater efficiency and scaling of its operations.
Analysts have turned more positive on the stock, highlighting Riot’s improving margins and its status as one of the biggest listed Bitcoin miners. The company’s strong revenue growth has added to the sense that it’s on a solid long-term path.
The $RIOT stock has broken out of a multi-year trendline, with experts projecting it to hit $170 in the coming months, a 10x growth from its current $17.50 price.
Crypto mining stocks are gaining major traction. A new mine-to-earn meme coin, Pepenode (PEPENODE), is also in high demand, having already raised over $1.2 million in its presale in short order.
Some smart money investors are calling it the next 100x meme coin.
Visit Pepenode Presale
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