STRC 'Jumps' in Pre-Market on Binance Listing...Is Bitcoin (BTC) Purchase Funding Revived?

▲ Strategy (MSTR), STRC, Binance, Bitcoin (BTC)/AI Generated Image

As Binance, the world's largest cryptocurrency exchange, added STRC perpetual preferred shares of Strategy (MSTR) to its stock trading products, STRC jumped approximately 2% in the pre-market, continuing its upward trend in line with Bitcoin's rebound.

According to CoinGape, a cryptocurrency specialized media outlet, on July 6 (local time), Binance began STRC spot trading. Binance is expanding its product lineup to allow access to traditional financial assets without a traditional securities account, in line with its strategy to expand 24/7 stock and stock-linked perpetual futures trading.

Binance stated that once stock trading settlements are fully completed, it will be included in the Full Paid Securities Lending (FPSL) program. Binance explained, “This is a measure to expand the trading options offered on Binance Stocks and enhance users' trading experience.” ADTI, ANTA, ATROB, CBRS, DISK, FOTO, KDEF, KMEM, and QNT were also included in the new trading products.

STRC continued its upward trend after Strategy increased its dollar reserves to $2.55 billion, announced MSTR share buybacks, and raised the STRC dividend rate to 12%. STRC closed up 0.47% at $87.87 on Thursday and rebounded about 22% last week. Trading volume remained low at 2.87 million shares.

In Monday's pre-market, STRC rose about 2% to $89.57, but it did not reach its par value of $100. Strategy is investing funds raised through STRC into Bitcoin (BTC) purchases. MSTR also rose over 3% to $104.35 in the pre-market, with a 21% increase last week.

Bitcoin gave back some of its earlier gains as profit-taking emerged after the recent cryptocurrency market rebound. Its 24-hour low and high were $62,413 and $63,935, respectively, and trading volume increased by 23% in 24 hours.

[Article Key Summary]

-Binance has expanded its stock product lineup by launching spot trading for Strategy's STRC perpetual preferred shares.

-STRC rebounded about 22% last week and rose approximately 2% to $89.57 in Monday's pre-market.

-Strategy is utilizing funds raised through STRC for Bitcoin purchases, and MSTR also rose 21% last week.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*