Top 3 Crypto Stocks to Watch Next Week: MSTR, CRCL, MARA

Top crypto stocks faced a sharp retreat this week as the cryptocurrency winter deepened. The slump followed underwhelming earnings reports from industry giants like Coinbase and Robinhood. That signaled continued caution in the digital asset space.

Coinbase and Robinhood stocks retreated sharply as their revenues fell short of expectations. This article looks at the top crypto shares to watch next week, like MSTR, CRCL, and MARA.

MSTR Stock in Focus as its Cash Raising Continues

Michael Saylor’s Strategy will be a top stock to watch when the company publishes its capital market activity for this week. In its report last week, the company said that it raised over $400 million by diluting its investors.

Strategy has been in the spotlight after its preferred shares dropped sharply below par. Since then, the company has sold Bitcoins worth over $200 million. It has also continued raising cash through dilution.

In a statement this week, the company said that it will continue raising cash to improve its balance sheet. An analysis suggested that the company may liquidate assets worth over $5 billion. It said this after revealing that its loss jumped to over $8 billion in the second quarter.

Technical analysis suggests that the MSTR stock may be about to drop further in the near term. It sits below the 50-day moving average and is slowly forming the bearish pennant pattern.

This pattern is made up of a vertical line and a symmetrical triangle. In most cases, this pattern leads to more downside.

Circle Stock in Focus as it Releases Earnings Amid USDC Woes

Circle stock has been in a strong sell-off in the past few months. It has plunged from a record high of $300 to the current $62.

Concurrently, the market capitalization of USDC dropped from approximately $80 billion to its current value of $71 billion. This reflected the ongoing challenges that aligned with this retreat.

Circle will be in the spotlight as it releases its financial results. These results are expected to show that its revenue grew modestly in the second quarter.

The average estimate is that its revenue rose by 9% in the second quarter to $717 million. Most notably, they expect the earnings to show that the EPS moved from a $4.48 loss per share to a 16-cent profit.

In addition to the earnings, the company will provide more information about its Arc layer-1 network. Arc is a layer-1 network that has raised over $200 million from investors. Its goal is to become a major player in the payment segment.

Arc joins other companies in the crypto industry have launched their chains. Robinhood launched Robinhood Chain, which has gained over $400 million in total value locked. Coinbase owns the Base Layer 1 network, while Kraken launched Ink.

MARA Holdings in Focus as it Publishes its Earnings

MARA Holdings, a top Bitcoin mining company pivoting to AI data centers, will also be in the spotlight as it releases its earnings.

These numbers come at a time when Bitcoin mining companies are struggling as power prices jump and as the value of Bitcoin eases. Bitcoin price has dropped from a record high of $126,300 to $64,000 today.

MARA, like other Bitcoin mining companies, has been pivoting to the AI data center industry. To do that, it has sold Bitcoin assets worth over $1 billion.

The company recently reached a deal with HIF to buy hundreds of acres of land in Texas. It aims to develop the property into a large data center.

The upcoming results are expected to show that its revenue dropped by 12% to $209 million. This decline is mostly because of its pivot to Bitcoin mining and falling prices. Therefore, the stock will be in focus as the company outlines its capital spending plans.