Galaxy Stock Soars as Q3 Trading Volume Explodes 140% - Crypto Meets Wall Street
When traditional finance meets digital assets - Galaxy's trading volume surge proves institutional money is finally waking up to crypto's potential.
The Volume Revolution
A 140% jump in Q3 trading volume isn't just a number - it's a statement. While traditional stocks plod along with single-digit gains, Galaxy demonstrates what happens when blockchain technology meets market demand.
Institutional Adoption Accelerates
This isn't retail FOMO driving these numbers. The volume spike signals serious money moving into the digital asset space - the kind that makes Wall Street's usual 2% quarterly gains look like pocket change.
Traditional finance analysts will call it volatility - we call it progress. Maybe they're still busy counting their 0.5% bond yields while the future of finance builds momentum without them.
US stocks muted, GM and Coca-Cola surge
While the overall performance for U.S. stocks was subdued, equities were mostly bullish.
A lot of the upbeat sentiment relates to an earnings boost, with General Motors, Coca-Cola, and 3M all gaining amid better-than-expected earnings reports. GM’s stock soared more than 14% after its earnings report, while COKE edged up.
U.S. regional lender Zions Bancorp also showed resilience with an early 3% share price increase, after a major selloff stemming from a $50 million investment writeoff.
Investors are also likely to flip to full-on bullish mode as anticipated earnings beats by industry giants such as Tesla, Netflix, and others add to the strong pace that analysts are pointing to for the third-quarter earnings season.
Notably, investors expect a bumper earnings season for major tech companies, including a 14.9% spike in year-over-year earnings. Per FactSet, the 493 other companies in the S&P 500 are expected to see a 6.7% jump in earnings.
Gains for the Mag Seven might trigger an overall bullish trend for stocks.
This, combined with potential thawing trade war jitters, will help risk assets. Federal Reserve’s interest rate decision in the coming days, despite the ongoing U.S. government shutdown, could also be a major tailwind for the market.
“The bar for further cuts after October is higher than the market thinks,” Goldman Sachs vice chair Robert Kaplan told CNBC on Monday.
