The cryptocurrency market has faced sustained pressure since last week’s downturn, with the global market capitalization falling by 4% over the past seven days.
Interestingly, a number of crypto-related stocks ended the last trading week on a positive note and are poised to keep climbing. Meanwhile, others mirrored the decline in the digital assets market.
IREN Limited (IREN)
IREN Limited shares closed Monday at $23.12, up 7.89% on the day. The rally came after a major infrastructure update that has put the stock firmly on traders’ watchlists for the week ahead.
On Monday, IREN announced it has procured an additional 4,200 NVIDIA Blackwell B200 GPUs, effectively doubling its GPU fleet to roughly 8,500 units. The company also secured $102 million in financing for a previous GPU purchase, structured as a 36-month lease with a high single-digit interest rate. This funding is expected to free up capital for further growth initiatives, including additional GPU acquisitions.
During the pre-market session today, IREN shares traded slightly lower at $23.08. If buying returns at market open, the stock could rally toward $24.
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IREN Price Analysis. Source: TradingViewConversely, a break below $21.54 is possible if demand keeps falling.
Hut 8 (HUT)
Earlier today, Hut 8 Corp. announced plans to develop four new sites across the United States, positioning its platform to meet surging demand for energy-intensive digital infrastructure. Once operational, the expansion is expected to boost Hut 8’s capacity to more than 2.5 gigawatts across 19 sites.
Despite the announcement, Hut 8 shares trade lower in pre-market at $23.18, compared to Monday’s close of $23.45. If the decline continues when the market opens, HUT could fall toward $21.93.
HUT Price Analysis. Source: TradingViewOn the upside, if demand picks up, HUT may retest resistance near $23.89.
MARA Holdings, Inc. (MARA)
MARA closed Monday at $15.40, down 5.52%. The decline came even as the company announced major expansion plans in Europe.
MARA revealed that the company has established Paris, France, as its new European headquarters, a strategic step in strengthening its presence in the region’s energy ecosystem.
Despite these developments, MARA is trading lower at $15.27 in premarket today. If the decline persists, the stock could fall toward $14.80.
On the other hand, a surge in demand could push it above $15.50.
The post 3 Crypto Stocks to Watch This Week appeared first on BeInCrypto.
Source: https://beincrypto.com/crypto-stock-to-watch-last-week-august/
