SOL, ETH, and BNB-linked stocks climb as accumulation and easing inflation fuel optimism | Credit: Hameem Sarwar
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Key Takeaways
HSDT purchased 760,190 SOL, helping its stock stabilize around $16.20.
BMNR now holds over 2% of ETH’s supply, with indicators targeting $80.
BNC has tumbled 48% despite BNB’s new highs, but could push toward $20
After a brutal stretch, crypto stocks tied to Solana (SOL), Ethereum (ETH), and BNB are finally flashing green. This rebound comes as companies linked to these assets accumulated billions in recent weeks.
At the same time, the recovery aligns with easing inflation concerns and a modest rebound in broader equities.
The key question is whether this momentum will attract fresh capital from sidelined investors — or whether it risks being undone by the same volatility that has haunted the market.
Helius Buys 760,000 SOL
The key crypto stock in play for SOL is HSDT, which is tied to Solana Company, formerly Helius Medical Technologies.
On Sept. 22, Helius announced its first-ever acquisition of SOL as part of a new digital asset treasury strategy.
According to the company, it purchased 760,190 SOL at an average cost of $231 — a bold move highlighting how traditional firms increasingly treat crypto as a balance sheet asset.
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“We are excited to embark on our SOL accumulation plan in an efficient manner. The initial accumulation at a lower cost basis than recent market prices, while still retaining the large majority of its capital raised for more opportunistic purchases, showcases how laser-focused the team is on maximizing shareholder value by having market awareness and being responsible stewards of capital,” Cosmo Jiang, Board Observer at Solana Company, disclosed about the matter.
Before the announcement, HSDT’s price lost about 23% within a week. SOL’s price dropped from $252 to $205 within the same period before it recently rebounded.
Interestingly, the HSDT has also done the same, stabilizing around $16.20. At press time, the crypto stock was flirting with the overhead resistance line.
Amid the accumulation, the Moving Average Convergence Divergence (MACD) has flipped positive, signaling a potential shift in momentum. If this trend holds, HSDT’s value could climb toward $25.
The upside could be even greater if Solana’s price rallies back toward its all-time high, providing a stronger tailwind for the stock.
However, the bullish case isn’t guaranteed. If demand for HSDT weakens and SOL slips below $200, this setup could collapse, pushing the stock down to a new low.
BitMine Holds 2% ETH
For ETH, the standout crypto stock is BitMine Immersion (BMNR), chaired by Thomas “Tom” Lee of Fundstrat.
Days ago, the firm revealed that it now holds more than 2% of ETH’s total supply.
“BitMine ETH holdings now exceed 2% of supply as we move towards our ‘Alchemy of 5%’ of ETH supply. We approached holdings of 1% of ETH in early August when BitMine’s equity was $38 (20-moving average) and as we exceed 2%, BitMine’s share price is now over $61,” Tom Lee revealed.
Unlike HSDT, BitMine Immersion (BMNR) didn’t suffer steep losses ahead of its disclosure. The stock dipped only 2.38% and currently trades at $54.49.
On the daily chart, BMNR appears to be forming a rounding bottom, a bullish reversal pattern that often signals the start of a stronger uptrend.
Adding to this, the MACD has formed a bullish crossover, while the Money Flow Index (MFI) is rising, both pointing to renewed buying momentum.
If this setup holds, BMNR could break above resistance at $62. A successful breakout there may propel the stock toward $80.77, and in an extended rally, possibly $99.53.
However, the bullish scenario depends heavily on Ethereum’s strength. If ETH falls below $4,000, BMNR’s momentum could unravel, dragging the stock back under $35.
BNC Selling Pressure Eases, Looks to BNB
Last on the list of crypto stocks eyeing recovery is CEA Industries Inc. (Nasdaq: BNC).
For context, BNC is tied to BNB, and the company has stated its intention to compound BNB per share for shareholders over the long term.
While BNB recently surged to a new all-time high above $1,000, BNC’s price has tumbled 48% in just five days. Yet on Tuesday, the stock gained 2.05%, closing at $7.96 per share.
From a technical perspective, the 4-hour chart shows the Money Flow Index (MFI) has dropped into oversold territory. This suggests that selling pressure may be exhausted, raising the probability of a rebound.
If this signal plays out, BNC could climb toward $20, with even greater upside possible if BNB posts another all-time high.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
