Digital asset treasuries (DATs) are leading a crypto stock recovery as markets rebound following a significant leverage flush at the start of the month.
Ether DATs recovered strongly on Tuesday. Nasdaq-listed EthZilla (ETHZ) gained 12.35% on the day, reaching $10.80 in after-hours trading, according to Google Finance.
BitMine, the world's largest Ether treasury, which has reportedly been buying the dip this week, also saw double-digit stock gains on Tuesday with a 10.26% increase for BMNR.
BitMine shares reached $32.40 in after-hours trading, marking a gain of over 650% since the company announced its Ether strategy in late June.
Meanwhile, the top-performing crypto stock of the day was mining and crypto investment firm Thumzup Media Corp (TZUP), which gained 13.25% on the Nasdaq on Tuesday.
Bitcoin DAT Stocks Slower to Recover
Several listed altcoin treasury companies outperformed their Bitcoin brethren as crypto markets recovered.
GD Culture Group (GDC), a virtual content production business and TRUMP memecoin treasury, saw its stock gain 11.4%. Solana (SOL) treasury HSDT notched a 9.36% gain on the day, and Sui Group Holdings (SUIG) made 7.7%.
The world's largest crypto treasury, Michael Saylor's Strategy (MSTR), saw a modest 5.78% gain on the day, with share prices hitting an intraday high of $188 during the Tuesday trading session.
Strategy stock is down 37.4% since the beginning of the year, with most of its losses occurring since the mid-October crypto market reversal.
BitMine Buying the Dip Again
BitMine has reportedly been buying the Ether dip this week. According to Lookonchain and Arkham Intelligence, the company acquired another 7,080 ETH worth $19.8 million on Monday, and 18,345 ETH worth around $55 million on Tuesday.
These purchases have not been officially confirmed by the company.
Ether prices rebounded to reach a five-day high of $3,060 in early trading on Wednesday morning.