Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
- Online brokerage firm UP Fintech Holding Ltd (NASDAQ:TIGR) reported second-quarter FY21 revenue growth of 98.7% year-on-year to $60.2 million, missing the estimate of $89.97 million.
- Segments: Commissions were $30.9 million, up 63.7% Y/Y. Financing service fees were $2.2 million, up 31.6% Y/Y.
- Interest income was $16.8 million, up 134.9% Y/Y. Other revenues were $10.2 million, up 301.5% Y/Y.
- Drivers: The total account balance rose 188.9% Y/Y to $23.9 billion. The total number of customers with deposits increased by 215.2%.
- Total margin financing and securities lending balance increased 187.7% Y/Y to $3.5 billion.
- Non-GAAP net loss per ADS of $(0.03) missed the estimate of $0.09.
- UP Fintech held $313.2 million in cash and equivalents.
- UP Fintech added 153,100 funded accounts in Q2, up 353.5% Y/Y and 30.4% Q/Q.
- Also See: Why Are Alibaba, Baidu, NetEase And Other Chinese Tech Shares Trading Lower Today?
- Price Action: TIGR shares traded higher by 5.08% at $14.06 in the premarket session on the last check Friday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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