Eightco (ORBS) Soars 34% as Crypto Firm Optimistic for Ethereum 10-15 Year Growth Prospects

We recently published 10 Stocks Investors Are Gobbling Up. Eightco Holdings Inc. (NASDAQ:ORBS) is one of the top performers on Monday.

Eightco rocketed by 34.34 percent on Monday to close at $11.07 apiece as investors poured funds into its stock, after Bitmine Immersion—the largest Ethereum treasury holder in the world—posted strong optimism for the cryptocurrency asset, believing that it would be one of the biggest macro trades over the next 10 to 15 years.

The comment propelled shares in Eightco Holdings Inc. (NASDAQ:ORBS), which announced earlier last month that it would make Ethereum its secondary reserve asset after Worldcoin.

As of writing, Ethereum prices were up by 3.93 percent at $4,692 each.

Additionally, Eightco Holdings Inc.’s (NASDAQ:ORBS) rally was supported by Bitmine’s aggressive expansion into Ethereum, having raised its ownership in the latter anew to $13.4 billion.

It is worth noting that Bitcoin last month also invested $113 million in Eightco Holdings Inc. (NASDAQ:ORBS) as it aims to capitalize on the growing Worldcoin adoption, the latter’s major cryptocurrency reserve.

Apart from Bitmine, Eightco Holdings Inc. (NASDAQ:ORBS) also earned the support of institutional investors, namely World Foundation, Discovery Capital Management, GAMA, FalconX, Kraken, Pantera, GSR, Coinfund, Occam Crest, Diametric, and Brevan Howard, after securing financial backing from the said firms.

While we acknowledge the potential of ORBS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.