STOCK (Coin Stock) has risen 230.58% in the last 24 hours

Gate News Bot news, on September 16, according to CoinMarketCap data, as of the time of writing, STOCK (Coin Stock) is currently priced at $122.18, with a pump of 230.58% in the last 24 hours, reaching a high of $399.11 and a low of $4.31, with a 24-hour volume of $4.67 million. Current market capitalization data is unavailable.

Coin Stock is a token for on-chain investment in the US stock market. It aims to break the barriers of traditional investing and provide more people with investment opportunities. The STOCK token can be traded 24/7, transferred freely, with no commissions, and can be used in DeFi applications. Currently, Coin Stock has been launched on multiple major exchanges and DeFi infrastructures, including Gate. Coin Stock is backed by Backed, a company established in 2021 that is dedicated to creating truly usable physical asset tokens for DeFi.

Important news about STOCK recently:

1️⃣ Nasdaq applies for tokenized securities trading

Nasdaq is seeking approval from the U.S. Securities and Exchange Commission (SEC) to allow the trading of tokenized securities on its platform. This initiative aims to combine traditional stocks with blockchain technology, providing investors with more diverse trading options. This move could create broader development opportunities for crypto tokens like STOCK that represent traditional financial assets.

2️⃣ Cryptocurrency-related stocks are performing actively.

With the continued development of the cryptocurrency market, stocks of publicly listed companies related to cryptocurrencies are also showing an active trend. This reflects the growing interest of traditional financial markets in the blockchain and crypto asset sectors, which may indirectly drive the demand for tokens such as STOCK.

3️⃣ Traditional stock market indices hit new highs

The S&P 500 index recently broke through 6600 points, setting a new historical high. The strong performance of traditional stock markets may have increased investor interest in stock-related crypto assets, which could be an important factor for the significant rise in STOCK prices.

From a technical perspective, the 24-hour volume of STOCK tokens has significantly increased, reaching 4.67 million USD, indicating a notable rise in market participation. However, the huge fluctuations in price over a short period also mean high risk, and investors should proceed with caution.

This message is not an investment advice, and investors should be aware of market volatility risks.