We came across a bearish thesis on Eightco Holdings Inc. on MELIFINANCE NEWSLETTER.’s Substack by Meli. In this article, we will summarize the bulls’ thesis on ORBS. Eightco Holdings Inc.'s share was trading at $11.49 as of September 26th. ORBS’s trailing P/E was 0.05 according to Yahoo Finance. Bullish (BLSH) Gets Boost From Investment Firm's Acquisition of $21-Million Stake Pixabay/Public Domain Eightco Holdings Inc. (Nasdaq: ORBS) is a highly speculative and unprofitable company that has repeatedly c ...

Core Viewpoint - Classover Holdings Inc. is expanding its digital asset treasury reserve strategy by adding Worldcoin (WLD) tokens to its portfolio, alongside its ongoing acquisition of Solana (SOL) [1] Group 1: Company Strategy - Classover is a pioneer in AI-powered K-12 learning, indicating its focus on integrating advanced technology into education [1] - The company plans to acquire WLD tokens as part of its digital asset strategy, showcasing its commitment to diversifying its asset holdings [1] Group 2: Industry Context - Worldcoin (WLD) is the native token of the World Network, a project co-founded by notable figures including Sam Altman, which highlights the involvement of influential leaders in the cryptocurrency space [1] - The addition of WLD to Classover's treasury reflects a growing trend among companies in the education sector to explore digital assets and blockchain technology [1]

Core Insights - Eightco Holdings Inc. is reinforcing its "Power of Eight" initiative, aiming to verify 8 billion humans and target 800 million Worldcoin (WLD) tokens [1][3] - The company has surpassed 17 million verified humans and aims to reach 100 million in the next twelve months [1][3] - The "Chairman's Message" video series will be produced monthly to raise awareness about Worldcoin and its treasury strategy [2][3] Company Strategy - Eightco Holdings has closed a $270 million PIPE financing on September 9th, which supports its treasury strategy for Worldcoin [1][2] - The company is focused on creating substantial value, projecting a target value of $10 per WLD token, leading to an $8 billion potential valuation for ORBS [2][3] - The World ID is positioned as a universal single sign-on for various sectors, including government, fintech, and gaming, as the demand for Proof of Human increases [3] Upcoming Initiatives - Chairman Dan Ives will embark on the ORBS World Tour to promote Worldcoin, with stops in cities like San Francisco, Bangkok, Kuala Lumpur, Singapore, Seoul, Tokyo, and London [5]

Core Insights - Eightco Holdings Inc. (NASDAQ: ORBS) has surpassed 17 million verified humans, with an increase of over 2 million since the launch of Worldcoin Treasury three weeks ago [1][2] - The company has introduced the 'Power of 8' initiative, aiming to accumulate 800 million Worldcoin (WLD) tokens and verify 8 billion humans [1][3] - Options trading for $ORBS is now available on the Nasdaq Options Market, enhancing investor accessibility and liquidity [2][3] Company Developments - Dan Ives, a notable technology and AI expert, serves as Chairman of the Board, emphasizing the importance of digital trust and secure online interactions [2][3] - The proprietary verification technology, known as Orb, is designed to address future security and identity challenges, establishing a foundation for trusted digital identities [3][5] - The company is committed to creating a universal foundation for digital identity, positioning itself as a leader in the verification platform space [3][5] Future Initiatives - Chairman Ives will embark on the ORBS World Tour, visiting cities with World stores to raise global awareness for $ORBS and Worldcoin [3][4] - The tour includes stops in major cities such as Los Angeles, San Francisco, Bangkok, Kuala Lumpur, Singapore, Seoul, Tokyo, and London [4]

Company Overview - BitMine Immersion Technologies (BMNR) is a digital asset treasury company focused on Ethereum's ether (ETH) and led by Tom Lee from Fundstrat, with total holdings reaching $10.77 billion [1] - The firm holds 2,151,676 ETH, having added 82,233 tokens in the past week, with the ether valued at $9.7 billion at current prices [1] Financial Performance - BitMine has $569 million in unencumbered cash, contributing to its overall asset value [1] - The company's equity stake in Eightco (OCTO), focused on the Worldcoin (WLD) project, has increased to $214 million, representing a tenfold increase from the initial $20 million investment [2] Market Position - Since pivoting to ether in June, BitMine has become the second-largest public corporate owner of a cryptocurrency, following Strategy, which holds a $73 billion bitcoin stash [2] - The treasury firm sector is facing pressure, with some companies trading below the net asset value of their holdings, as seen with rival Sharplink Gaming, which recently repurchased equity to boost its share price [3]

Group 1 - Eightco Holdings Inc. (NASDAQ:ORBS) experienced a significant increase in stock price, soaring by 5,632 percent week-on-week due to its entry into the cryptocurrency treasury strategy and securing substantial investments [1] - The company raised a total of $290 million through a private placement, with $270 million from Mozayyx and $20 million from Bitmine Immersion, aimed at establishing a Worldcoin treasury strategy [2] - Proceeds from the fundraising will be utilized to acquire and hold Worldcoin (WLD) as a treasury reserve asset, while also considering cash and Ethereum as secondary reserve assets [3] Group 2 - Newly appointed chairman Dan Ives emphasized the importance of "Proof of Human" in the AI revolution, stating that the company is uniquely positioned to provide necessary trust, verification, and authentication as AI becomes more integrated into daily life [4]

Market Overview - The cryptocurrency market capitalization has decreased by 0.4%, now standing at $4.15 trillion, with a total trading volume of $130 billion [1][2] - Among the top 100 coins, 14 have shown positive performance, while most have declined over the past 24 hours [2][3] Key Performers - Bitcoin (BTC) is the only coin in the top 10 that has appreciated, up 0.5% to $116,309, while Ethereum (ETH) has decreased by 0.6% to $4,642 [2][3] - Monero (XMR) leads the gains among the top 100 coins, increasing by 5.4% to $303, while Worldcoin (WLD) has experienced the largest drop of 8% to $1.59 [4] Market Sentiment and Predictions - Positive sentiment among investors has increased, with expectations of a powerful Q4 rally, despite potential volatility and consolidation in September [2][6][7] - Alex Thorn from Galaxy Digital suggests that the U.S. may soon launch a Strategic Bitcoin Reserve, which could significantly impact market dynamics [5] Future Outlook - Analysts believe that the current market cycle has not reached its peak, indicating substantial upside potential ahead [6][7] - Structural factors such as falling rates and bullish derivatives markets support the notion that the bull run is not over [7]

Core Viewpoint - Dogecoin is experiencing a rally driven by factors such as the anticipated launch of the DOJE ETF, treasury accumulation, and speculative leverage, despite warnings from analysts about potential price resistance [1][5][10]. Price Movement - Dogecoin has traded between $0.27 and $0.30 recently, with an intraday high of $0.3070, indicating volatility but an overall increase over the week and month [2]. - The latest price level is around $0.2749, reflecting fluctuations in the market [2]. Trading Behavior - A significant number of traders are using leverage to bet on Dogecoin, with a ratio of two to three bullish bets for every bearish one on platforms like Binance and OKX [3]. - Among top traders, the bullish sentiment is even stronger, with four to five bullish bets for every bearish one [3]. Liquidation Risks - The use of leverage poses risks, as approximately $29.6 million in Dogecoin trades were liquidated in the past 24 hours, primarily from traders who over-leveraged on the expectation of price increases [4]. Institutional Interest - Companies are beginning to accumulate cryptocurrencies, inspired by MicroStrategy's Bitcoin holdings, with over 150 companies now holding Bitcoin [6]. - There is a shift towards Ethereum, Solana, and Worldcoin, with notable holdings reported by various firms [7]. Dogecoin Treasury Accumulation - CleanCore Solutions has disclosed acquiring 500 million DOGE as part of a strategy to build a significant Dogecoin treasury, targeting a total of 1 billion DOGE [9]. - Another firm, Bit Origin, reported holding 70.5 million DOGE, indicating growing institutional interest in Dogecoin [9]. Analyst Perspectives - Analysts are divided on Dogecoin's momentum, with some suggesting it is at a critical supply zone that could lead to a price rejection if the broader market has not stabilized [10]. - Others point to the recent price surge and potential targets of $0.32, $0.41, and even $0.70 if bullish momentum continues [11]. ETF Developments - The launch of the Rex-Osprey DOGE ETF has been delayed again, now expected to debut mid-next week, with analysts anticipating multiple DOGE ETFs to launch in the coming months [5].

Market Overview - The cryptocurrency market capitalization has increased by 1.5% to $4.12 trillion, with 90 of the top 100 coins experiencing gains over the past 24 hours [1] - Total crypto trading volume stands at $168 billion [1] Performance of Major Cryptocurrencies - Bitcoin (BTC) has risen by 1.1%, currently trading at $115,350, marking the smallest increase among the top 10 coins [3] - Ethereum (ETH) is up by 2.3%, trading at $4,548, making it the third-best gainer in the top 10 [3] - Solana (SOL) leads the top performers with a 7.1% increase, now trading at $238 [3] Notable Winners and Losers - Provenance Blockchain (HASH) has seen a significant increase of 29.9%, trading at $0.04028, while Pudgy Penguins (PENGU) is up by 9.6% to $0.03791 [4] - On the downside, MYX Finance (MYX) has dropped by 10% to $15.35, and Worldcoin (WLD) has decreased by 2.8% to $1.71 [4] Institutional Activity - US BTC spot ETFs recorded inflows of $552.78 million, while US ETH ETFs saw inflows of $113.12 million, indicating a rotation of smart money back into BTC [2] - Galaxy Digital has reportedly acquired 2.31 million SOL [2] IPO Highlights - Gemini Space Station's IPO raised $425 million, becoming one of the strongest debuts for a digital asset platform, with the offering being over 20 times oversubscribed [5] Market Sentiment and Trends - The market is entering a volatility contraction phase, with ETH's implied volatility hitting multi-week lows [6] - Despite recent turbulence from US CPI data, both BTC and ETH have shown resilience and increased in value [6]

Group 1 - Upbit has initiated a coin listing spree in response to Bithumb's increasing trading volume, having listed seven tokens in the past 10 days [1][3] - As of September 9, Bithumb's market share reached 46%, while Upbit held a 50.6% share, indicating a narrowing gap [1][2] - Upbit has historically maintained a market share above 80% but is now facing competition from Bithumb, which has formed a partnership with Kookmin Bank [2][3] Group 2 - Upbit's rapid response to the trading volume growth of Worldcoin (WLD) included listing WLD within hours of its market share increase for Bithumb [4][5] - The total number of listings by Upbit in September has already exceeded its total for August, indicating a significant increase in activity [5] - Experts express concern that the intense competition between exchanges may lead to hasty decisions that could compromise the review process for new listings [6][7]