Latest news for FRNT Finl (OTC:FRFLF) Stock

FRNT Financial Inc is a next-generation institutional sales and trading platform. The company aims to offer new opportunities to permitted clients and institutional investors while maintaining a lean, technology-driven operation. It is focused on providing expertise and products that help institutional clients gain access to cryptocurrency trade opportunities. It has one segment focused around developing and offering its capital market trading platform to institutional investors.

FRNT Financial Inc

Opko Health Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPK#NASDAQ">OPK</a>) shares are trading higher after-hours Wednesday. The company announced it entered into a $250 million non-dilutive note purchase <a href="https://www.benzinga.com/pressreleases/24/07/g39825467/opko-health-and-healthcare-royalty-enter-into-250-million-note-purchase-agreement-secured-by-ngenl">agreement with HealthCare Royalty (HCRx). </a>
The Details: Opko said the purchase agreement is secured by its profit share payments from Pfizer received pursuant to its license agreement relating to NGENLA, a once-weekly treatment to treat pediatric growth hormone deficiency. 
The $250 million note issued under the Note Purchase Agreement bears interest at the 3-month Secured Overnight Financing Rate (SOFR) subject to a 4% per annum floor, plus 7.5% per annum. The note has a final maturity date of July 2044 with the first four years requiring interest-only payments.
Read Next:<a href="https://www.benzinga.com/news/24/07/39796841/lucids-stock-drives-higher-on-2025-model-year-updates-whats-going-on"> Lucid&#8217;s Stock Drives Higher On 2025 Model Year Updates: What&#8217;s Going On?</a>
&#8220;This transaction with HCRx allows OPKO to retain a significant portion of NGENLA&#8217;s profit share payments in the near term and provides upside over the long term. It also permits OPKO to maintain the full benefit of the $100 million of remaining potential milestone payments from Pfizer,&#8221; said Phillip Frost, M.D., CEO of Opko.
&#8220;Additionally, it provides non-dilutive capital and financial flexibility to advance our research and development activities including our multispecific antibody programs, as well as potentially to repurchase shares of our common stock and convertible notes."
OPK Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Opko Health shares are up 7.07% after-hours at $1.52 at the time of publication Wednesday.
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<li><a href="https://www.benzinga.com/markets/cannabis/24/07/39805320/what-happened-with-canopy-growth-stock-today">What Happened With Canopy Growth Stock Today?</a></li>
</ul>
Image: Shutterstock

News

Health Care

After-Hours Center

Movers

Why Opko Health Shares Are Up After-Hours

Parker Hannifin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PH#NYSE">PH</a>) has outperformed the market over the past 20 years by 5.96% on an annualized basis producing an average annual return of 14.47%. Currently, Parker Hannifin has a market capitalization of $71.72 billion. 
Buying $100 In PH: If an investor had bought $100 of PH stock 20 years ago, it would be worth $1,497.16 today based on a price of $557.94 for PH at the time of writing.
<h3>Parker Hannifin's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721251823_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Trading Ideas

$100 Invested In This Stock 20 Years Ago Would Be Worth $1,500 Today

Cintas (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTAS#NASDAQ">CTAS</a>) has outperformed the market over the past 15 years by 13.08% on an annualized basis producing an average annual return of 25.38%. Currently, Cintas has a market capitalization of $73.03 billion. 
Buying $100 In CTAS: If an investor had bought $100 of CTAS stock 15 years ago, it would be worth $3,060.29 today based on a price of $719.78 for CTAS at the time of writing.
<h3>Cintas's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721251818_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

CTAS

Here's How Much $100 Invested In Cintas 15 Years Ago Would Be Worth Today

Scotiabank analyst Tristan Richardson maintains Williams Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMB#NYSE">WMB</a>) with a Sector Perform and raises the price target from $40 to $43.

Price Target

Analyst Ratings

Scotiabank Maintains Sector Perform on Williams Companies, Raises Price Target to $43

Chuy&#8217;s Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHUY#NASDAQ">CHUY</a>) shares are popping in Wednesday&#8217;s after-hours session after the company and Darden Restaurants, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NYSE">DRI</a>) jointly announced that Darden will <a href="https://www.benzinga.com/pressreleases/24/07/n39825112/darden-restaurants-to-acquire-chuys-holdings-inc-in-approximately-605-million-transaction">acquire Chuy&#8217;s Holdings</a>.
What Happened: Chuy&#8217;s Holdings and Darden&nbsp;entered into a definitive agreement in which Darden will acquire all of Chuy&#8217;s outstanding stock for&nbsp;$37.50&nbsp;per share in cash. The all-cash transaction has an enterprise value of approximately&nbsp;$605 million.&nbsp;
&#8220;Chuy&#8217;s is a differentiated brand within the full-service dining industry with strong performance and growth potential,&#8221; said Rick Cardenas, president&nbsp;and CEO of Darden. &#8220;Based on our criteria for adding a brand to the Darden portfolio, we believe Chuy&#8217;s is an excellent fit that supports our winning strategy.&#8221;
The transaction was unanimously approved by both boards and is expected to be completed in Darden&#8217;s fiscal second quarter. Darn expects the acquisition to be neutral to its net earnings per share for fiscal 2025.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39821442/netflix-q2-earnings-preview-can-ad-supported-growth-new-releases-sustain-investor-h">Netflix Q2 Earnings Preview: Can Ad-Supported Growth, New Releases Sustain Investor Hype?</a>
Chuy&#8217;s owns and operates full-service restaurants serving a distinct menu of authentic, made-from-scratch Tex-Mex-inspired dishes. The restaurant brand will join Darden&#8217;s existing lineup, which includes Olive Garden, LongHorn Steakhouse, Yard House, Ruth&#8217;s Chris Steak House, Cheddar&#8217;s Scratch Kitchen, The Capital Grille, Seasons 52, Eddie V&#8217;s and Bahama Breeze.
CHUY Price Action: <a href="https://www.benzinga.com/quote/CHUY">Chuy&#8217;s shares</a> were up 47.41% after hours at $37.25 at the time of publication Wednesday, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: <a href="https://www.flickr.com/photos/jdhancock/">JD Hancock</a> from Flickr.

Restaurants

CHUY

Chuy's Holdings Stock Soars On Darden Takeover Deal: What You Need To Know

Alaska Air's Operational Update: Says It Reached Tentative Agreement With Mainline Flight Attendants; Voting On The Agreement Is Expected To Conclude By Mid-August

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Scotiabank analyst Tristan Richardson maintains Kinder Morgan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>) with a Sector Perform and raises the price target from $19 to $21.

Scotiabank Maintains Sector Perform on Kinder Morgan, Raises Price Target to $21

Scotiabank analyst Tristan Richardson maintains Targa Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRGP#NYSE">TRGP</a>) with a Sector Outperform and raises the price target from $128 to $142.

TRGP

Scotiabank Maintains Sector Outperform on Targa Resources, Raises Price Target to $142

Alaska Air Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALK#NYSE">ALK</a>) reported quarterly earnings of $2.55 per share which beat the analyst consensus estimate of $2.39 by 6.69 percent. This is a 15 percent decrease over earnings of $3.00 per share from the same period last year. The company reported quarterly sales of $2.897 billion which missed the analyst consensus estimate of $2.945 billion by 1.62 percent. This is a 2.08 percent increase over sales of $2.838 billion the same period last year.

Earnings

Earnings Beats

Earnings Misses

Alaska Air Q2 2024 Adj EPS $2.55 Beats $2.39 Estimate, Sales $2.897B Miss $2.945B Estimate

Scotiabank analyst Andres Coello maintains America Movil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMX#NYSE">AMX</a>) with a Sector Perform and lowers the price target from $19 to $18.9.

Scotiabank Maintains Sector Perform on America Movil, Lowers Price Target to $18.9

Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) shares closed slightly higher Wednesday amid a tumultuous trading day <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39823332/nasdaq-100-suffers-worst-day-in-11-months-as-chipmakers-tumble-on-china-curbs-magnificent-">for the semiconductor sector. </a>
<h1 class="wp-block-heading">What To Know</h1>
Semiconductor stocks moved lower Wednesday as investors digested a report about the expansion of export restrictions and ASML Holding NV&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) earnings release and forward guidance. 
ASML shares fell more than 12% on the session after the company reported <a href="https://www.benzinga.com/news/earnings/24/07/39808860/asml-beats-q2-earnings-expectations-with-strong-china-sales-ai-chip-demand">second-quarter numbers</a> that were lower than the same period in the previous year and guided quarterly gross margin in the range of 50% to 51% versus expectations of 51.1%.
Investors also mulled a Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-07-17/us-considers-tougher-trade-rules-against-companies-in-chip-crackdown-on-china">report</a> that the Biden administration is considering imposing the most severe trade restrictions on China if companies continue giving the country access to advanced semiconductor technology.
Additionally, former President Donald Trump said Taiwan should pay the U.S. for its defense, casting more doubt on the stability of the region. 
&#8220;I know the people very well, respect them greatly. They did take about 100% of our chip business. I think, Taiwan should pay us for defense,&#8221; Trump said in the Bloomberg Businessweek interview, published Tuesday.
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Investors may view Intel as a safer option, compared to peers including Taiwan Semiconductor Manufacturing Company, Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) and NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), which depend on Taiwan for manufacturing. Intel <a href="https://www.intel.com/content/www/us/en/corporate/usa-chipmaking/home.html">said it expects </a>to invest more than $100 billion in the U.S. to expand its manufacturing capacity and capabilities in Arizona, New Mexico, Oregon and Ohio with support from the CHIPS act. 
Intel is set to report its second-quarter results on Aug. 1 after the closing bell. According to estimates from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, analysts expect the company to report earnings of 10 cents per share and quarterly revenue of $12.948 billion.
<h1 class="wp-block-heading">INTC Stock Prediction 2024</h1>
Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.
Shares of Intel have an average 1-year price target of $34.86, representing an expected upside of 1.51%.
Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. Four analysts have bearish recommendations on Intel, while one analyst has bullish ratings. The street high price target from Mizuho is $45, while the street low from Rosenblatt is $17.
INTC Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Intel Corporation ended Wednesday's session up 0.35% at $34.46.
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Image: Shutterstock

Global

Tech

ASML

INTC

NVDA

What Happened With Intel Stock Today?

Home BancShares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HOMB#NYSE">HOMB</a>) reported quarterly earnings of $0.52 per share which beat the analyst consensus estimate of $0.49 by 6.12 percent. This is a 1.96 percent increase over earnings of $0.51 per share from the same period last year. The company reported quarterly sales of $254.596 million which beat the analyst consensus estimate of $247.208 million by 2.99 percent. This is a 0.99 percent decrease over sales of $257.152 million the same period last year.

HOMB

Home BancShares Q2 2024 Adj EPS $0.52 Beats $0.49 Estimate, Sales $254.596M Beat $247.208M Estimate

Citigroup analyst Michael Ward maintains Progressive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>) with a Neutral and lowers the price target from $232 to $225.

Citigroup Maintains Neutral on Progressive, Lowers Price Target to $225

Citigroup analyst Thomas Palmer maintains Kraft Heinz (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>) with a Buy and lowers the price target from $42 to $38.

Citigroup Maintains Buy on Kraft Heinz, Lowers Price Target to $38

1-800-Flowers.Com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLWS#NASDAQ">FLWS</a>) stock closed Wednesday at $10.00 per share, down more than 9%.
The company could miss the sales estimate for the fourth quarter of fiscal 2024 and issue its fiscal 2025 guidance below Street expectations, according to DA Davidson.
The 1-800-Flowers Analyst: Linda Bolton Weiser downgraded coverage of 1-800-Flowers from Neutral to Underperform, while reducing the price target from $11 to $8.
The 1-800-Flowers Thesis: Bloomberg debit card data, which is 94% correlated to sales, indicates a decline of 15% year-on-year in sales in the fourth quarter of fiscal 2024, versus a 13% decline in the prior quarter F3Q24, Weiser said in the downgrade note.
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
This suggests that the consensus estimate of a 6% year-on-year decline in the fiscal fourth-quarter sales may prove to be too high, she added.
The University of Michigan consumer sentiment index, which is currently in the 60s-70s, needs to be consistently above 80 for 1-800-Flowers to return to low-single-digit sales growth, the analyst added.
"Consumers have tended to show up more on the big gift-giving holidays like Mother&#8217;s Day, but FLWS&#8217; everyday gifting business (which is the majority of sales) has been very anemic," she further wrote.
FLWS Price Action: Shares of 1-800-Flowershad declined by 9.09% to $10.00 at the time of publication on Wednesday.
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Analyst Color

Short Ideas

Downgrades

FLWS

1-800-Flowers Analyst Warns Bloomberg Debit Card Data Shows Unfavorable Trends

UnitedHealthcare has served Rhode Islanders through the MMCS program since 1993; this contract award will continue to provide access to UnitedHealthcare coverage and services through 2030.

Contracts

UnitedHealthcare Says Selected By The State Of Rhode Island To Serve Medicaid Members Through MMCS Program; This Contract Award Will Continue To Provide Access To Coverage And Services Through 2030

Citigroup analyst Thomas Palmer maintains Freshpet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRPT#NASDAQ">FRPT</a>) with a Neutral and raises the price target from $124 to $129.

FRPT

Citigroup Maintains Neutral on Freshpet, Raises Price Target to $129

Synovus Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNV#NYSE">SNV</a>) reported quarterly earnings of $1.16 per share which beat the analyst consensus estimate of $0.86 by 34.88 percent. This is unchanged from the same period last year. The company reported quarterly sales of $306.147 million which missed the analyst consensus estimate of $429.042 million by 28.64 percent. This is a 46.08 percent decrease over sales of $567.807 million the same period last year.

Synovus Finl Q2 2024 Adj EPS $1.16 Beats $0.86 Estimate, Sales $306.147M Miss $429.042M Estimate

Citigroup analyst Thomas Palmer maintains Hershey (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>) with a Neutral and lowers the price target from $204 to $188.

Citigroup Maintains Neutral on Hershey, Lowers Price Target to $188

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
The surge in meme coins has prompted plenty of debate in both crypto circles as well as among more conservative investors. Indeed, the <a href="https://twitter.com/TheStalwart/status/1766868841332637850?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1766868841332637850%7Ctwgr%5Eccfe9d6a502e54a519cd8f932ab8e61140f5af49%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.cryptotimes.io%2F2024%2F03%2F11%2Fmeme-coin-mania-speculation-vs-opportunity%2F">unique appeal</a> these tokens have for investors looking for high-risk, high-reward bets has many speculators and traders attracted to these assets. Most conservative investors tend to view these tokens as not worth investing in. In many respects, I find myself in this camp.



That said, there&rsquo;s no denying the sort of impact Bitcoin&rsquo;s (<a href="https://investorplace.com/cryptocurrency/btc-usd/">BTC-USD</a>) recent rise has had on all digital assets. Meme tokens are surging, and the meme mania we saw in 2021 appears to be back in full force.



For those who may be looking for signs that this mania can continue, let&rsquo;s dive into what signs exist that suggest it is as rampant as many suggest right now.



<h2>Capital Inflows Into ETFs Are Soaring</h2>



In the recent crypto frenzy, an astounding <a href="https://www.linkedin.com/pulse/crypto-mania-fuels-record-inflows-520-million-floods-blackrock-lloyd-toa3e?trk=article-ssr-frontend-pulse_more-articles_related-content-card">$520 million flooded</a> into BlackRock&rsquo;s (NYSE:<a href="https://investorplace.com/stock-quotes/blk-stock-quote/">BLK</a>) Bitcoin ETF in one day, fueling the digital currency&rsquo;s surge past $72,000. The influx into the fund underscores the significant role ETFs play in Bitcoin&rsquo;s soaring rally, attracting a diverse group of investors. The influx of capital broadened access to Bitcoin, aligning with predictions and providing new investment opportunities for various market players.



Stephane Ouellette, CEO of FRNT Financial (OTCMKTS:<a href="https://investorplace.com/stock-quotes/frflf-stock-quote/">FRFLF</a>), <a href="https://fortune.com/2024/02/28/what-is-price-of-bitcoin-etf-blackrock-record-high/">noted the significant impact</a> of BTC ETFs on the rally. Around 20% of investment advisers had approval to include the product, a process expected to unfold over a year. Now sitting at $69,000, it took about five days for the token to reach its two-year peak and close the gap between its all-time high. The vigorous activity caused outages at crypto exchange Coinbase (NASDAQ:<a href="https://investorplace.com/stock-quotes/coin-stock-quote/">COIN</a>) and signaled just how impressive institutional investor interest is in digital assets.



Bitcoin has surged over 55% year-to-date, outperforming other assets, even after its remarkable rise last year. According to JPMorgan (NYSE:<a href="https://investorplace.com/stock-quotes/jpm-stock-quote/">JPM</a>) strategists, including Kenneth Worthington, the approval of new funds contributed significantly to its 2023 surge. In tandem with Bitcoin&rsquo;s rally, the $6.5 billion IBIT has witnessed 32 consecutive days of inflows. 



At the same time, Fidelity&rsquo;s FBTC has also <a href="https://fortune.com/2024/03/03/bitcoin-etf-mania-blackrock-fidelity/">seen consistent daily inflows since its launch,</a> accumulating $4.48 billion in net inflows overall. These inflows underscore the increasing demand for spot Bitcoin ETFs, emphasizing the appeal of trading assets through ETFs and the longstanding investor interest in Bitcoin funds.



It&rsquo;s unclear how much of the interest around higher-risk and more speculative meme coins is being driven by institutional investors. But with more capital flowing into this sector and greater liquidity seen on various exchanges, it&rsquo;s a broadly bullish sign mainstream investors are catching onto the crypto trade. For meme coin traders and speculators, that&rsquo;s a good thing.



<h2>Simple Price Appreciation From the Top Down</h2>



Bitcoin has <a href="https://qz.com/bitcoin-price-record-halving-event-etfs-1851304695">continued to surge to record highs</a> ahead of its upcoming halving event, surging above $72,000 for the first time this week. I would argue this incredible momentum seen from the world&rsquo;s largest cryptocurrency is driving top-down interest for all cryptocurrencies right now. 



As Bitcoin and other mega-cap cryptos continue to surge, investor interest in other high-growth digital assets continues to grow. We&rsquo;re seeing pretty broad-based positive moves in this space, suggestive of the idea that capital is flowing to all corners of the crypto market. For meme coin investors, this flood of interest has certainly been a good thing.



Now, not all investors will want to move out on the risk spectrum to the corner of the market that meme coins occupy. Indeed, these assets are best viewed as trading and speculative vehicles. Accordingly, the ties between this sort of top-down behavior may be weak, at best.



But I think it&rsquo;s true that there&rsquo;s something to the idea that &ldquo;crypto go up&rdquo; reflects some of the broad-based sentiment driving these meme coins higher right now. It&rsquo;s party on, and meme coin investors are partying the hardest right now.



<h2>Leveraged Short Liquidations</h2>



Some of the recent volatility we&rsquo;ve seen across the board in the crypto sector can certainly be tied to buying and selling activity in this space. Indeed, that&rsquo;s what moves most markets, though leveraged positions play a role in shaping how quickly a given asset moves (its volatility). In the crypto world, leverage is rampant, and it&rsquo;s partly what makes these assets so darn volatile over short timeframes.



Recent data from <a href="https://www.coinglass.com">Coinglass</a> shows just how rampant this leverage has been across various digital assets. Short liquidations have exceeded long liquidations during this recent rally, meaning short-sellers are seeing their leveraged bets blow up. This leads to higher prices, spurring further short liquidations and an upward spiral in prices.



To a large degree, these sorts of liquidations are a key driver many investors aren&rsquo;t necessarily focused on. Yes, there&rsquo;s a flood of capital coming into this sector. But when traders are levering up their positions up to 100x, near-term moves can be significant, especially when these bets unwind.



<h2>Bottom Line on Meme Coins</h2>



I&rsquo;m remaining on the sidelines for now when it comes to meme coins. I&rsquo;m going to acknowledge that meme coin mania is alive and well, and wish all speculators and traders well. But this just isn&rsquo;t an asset class for investors who value capital preservation. So, take out the popcorn and enjoy the action. This year is shaping up to be an interesting one, that&rsquo;s for sure.



On the date of publication, Chris MacDonald did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines.</a>
<div>Chris MacDonald&rsquo;s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/2024/03/crypto-trends-2024-3-signs-that-meme-coin-mania-is-back/">Crypto Trends 2024: 3 Signs That Meme Coin Mania Is Back</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Crypto Trends 2024: 3 Signs That Meme Coin Mania Is Back

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The surge in meme coins has prompted plenty of debate in both crypto circles as well as among more conservative investors. Indeed, the <a href="https://twitter.com/TheStalwart/status/1766868841332637850?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1766868841332637850%7Ctwgr%5Eccfe9d6a502e54a519cd8f932ab8e61140f5af49%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.cryptotimes.io%2F2024%2F03%2F11%2Fmeme-coin-mania-speculation-vs-opportunity%2F">unique appeal</a> these tokens have for investors looking for high-risk, high-reward bets has many speculators and traders attracted to these assets. Most conservative investors tend to view these tokens as not worth investing in. In many respects, I find myself in this camp.



That said, there&rsquo;s no denying the sort of impact Bitcoin&rsquo;s (<a href="https://investorplace.com/cryptocurrency/btc-usd/">BTC-USD</a>) recent rise has had on all digital assets. Meme tokens are surging, and the meme mania we saw in 2021 appears to be back in full force.



For those who may be looking for signs that this mania can continue, let&rsquo;s dive into what signs exist that suggest it is as rampant as many suggest right now.



<h2>Capital Inflows Into ETFs Are Soaring</h2>



In the recent crypto frenzy, an astounding <a href="https://www.linkedin.com/pulse/crypto-mania-fuels-record-inflows-520-million-floods-blackrock-lloyd-toa3e?trk=article-ssr-frontend-pulse_more-articles_related-content-card">$520 million flooded</a> into BlackRock&rsquo;s (NYSE:<a href="https://investorplace.com/stock-quotes/blk-stock-quote/">BLK</a>) Bitcoin ETF in one day, fueling the digital currency&rsquo;s surge past $72,000. The influx into the fund underscores the significant role ETFs play in Bitcoin&rsquo;s soaring rally, attracting a diverse group of investors. The influx of capital broadened access to Bitcoin, aligning with predictions and providing new investment opportunities for various market players.



Stephane Ouellette, CEO of FRNT Financial (OTCMKTS:<a href="https://investorplace.com/stock-quotes/frflf-stock-quote/">FRFLF</a>), <a href="https://fortune.com/2024/02/28/what-is-price-of-bitcoin-etf-blackrock-record-high/">noted the significant impact</a> of BTC ETFs on the rally. Around 20% of investment advisers had approval to include the product, a process expected to unfold over a year. Now sitting at $69,000, it took about five days for the token to reach its two-year peak and close the gap between its all-time high. The vigorous activity caused outages at crypto exchange Coinbase (NASDAQ:<a href="https://investorplace.com/stock-quotes/coin-stock-quote/">COIN</a>) and signaled just how impressive institutional investor interest is in digital assets.



Bitcoin has surged over 55% year-to-date, outperforming other assets, even after its remarkable rise last year. According to JPMorgan (NYSE:<a href="https://investorplace.com/stock-quotes/jpm-stock-quote/">JPM</a>) strategists, including Kenneth Worthington, the approval of new funds contributed significantly to its 2023 surge. In tandem with Bitcoin&rsquo;s rally, the $6.5 billion IBIT has witnessed 32 consecutive days of inflows. 



At the same time, Fidelity&rsquo;s FBTC has also <a href="https://fortune.com/2024/03/03/bitcoin-etf-mania-blackrock-fidelity/">seen consistent daily inflows since its launch,</a> accumulating $4.48 billion in net inflows overall. These inflows underscore the increasing demand for spot Bitcoin ETFs, emphasizing the appeal of trading assets through ETFs and the longstanding investor interest in Bitcoin funds.



It&rsquo;s unclear how much of the interest around higher-risk and more speculative meme coins is being driven by institutional investors. But with more capital flowing into this sector and greater liquidity seen on various exchanges, it&rsquo;s a broadly bullish sign mainstream investors are catching onto the crypto trade. For meme coin traders and speculators, that&rsquo;s a good thing.



<h2>Simple Price Appreciation From the Top Down</h2>



Bitcoin has <a href="https://qz.com/bitcoin-price-record-halving-event-etfs-1851304695">continued to surge to record highs</a> ahead of its upcoming halving event, surging above $72,000 for the first time this week. I would argue this incredible momentum seen from the world&rsquo;s largest cryptocurrency is driving top-down interest for all cryptocurrencies right now. 



As Bitcoin and other mega-cap cryptos continue to surge, investor interest in other high-growth digital assets continues to grow. We&rsquo;re seeing pretty broad-based positive moves in this space, suggestive of the idea that capital is flowing to all corners of the crypto market. For meme coin investors, this flood of interest has certainly been a good thing.



Now, not all investors will want to move out on the risk spectrum to the corner of the market that meme coins occupy. Indeed, these assets are best viewed as trading and speculative vehicles. Accordingly, the ties between this sort of top-down behavior may be weak, at best.



But I think it&rsquo;s true that there&rsquo;s something to the idea that &ldquo;crypto go up&rdquo; reflects some of the broad-based sentiment driving these meme coins higher right now. It&rsquo;s party on, and meme coin investors are partying the hardest right now.



<h2>Leveraged Short Liquidations</h2>



Some of the recent volatility we&rsquo;ve seen across the board in the crypto sector can certainly be tied to buying and selling activity in this space. Indeed, that&rsquo;s what moves most markets, though leveraged positions play a role in shaping how quickly a given asset moves (its volatility). In the crypto world, leverage is rampant, and it&rsquo;s partly what makes these assets so darn volatile over short timeframes.



Recent data from <a href="https://www.coinglass.com">Coinglass</a> shows just how rampant this leverage has been across various digital assets. Short liquidations have exceeded long liquidations during this recent rally, meaning short-sellers are seeing their leveraged bets blow up. This leads to higher prices, spurring further short liquidations and an upward spiral in prices.



To a large degree, these sorts of liquidations are a key driver many investors aren&rsquo;t necessarily focused on. Yes, there&rsquo;s a flood of capital coming into this sector. But when traders are levering up their positions up to 100x, near-term moves can be significant, especially when these bets unwind.



<h2>Bottom Line on Meme Coins</h2>



I&rsquo;m remaining on the sidelines for now when it comes to meme coins. I&rsquo;m going to acknowledge that meme coin mania is alive and well, and wish all speculators and traders well. But this just isn&rsquo;t an asset class for investors who value capital preservation. So, take out the popcorn and enjoy the action. This year is shaping up to be an interesting one, that&rsquo;s for sure.



On the date of publication, Chris MacDonald did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines.</a>
<div>Chris MacDonald&rsquo;s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/2024/03/crypto-trends-2024-3-signs-that-meme-coin-mania-is-back/">Crypto Trends 2024: 3 Signs That Meme Coin Mania Is Back</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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