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In the past few days, several crypto-based companies have released their earnings and revenue for the last quarter of 2024; Marathon Holdings Inc. has realized it Q4, 2024, which shows a growth of 1,024% in the EPS, which was estimated at $-0.13 and the estimated revenue was $187.77 million yet the company reported revenue of $214.39 million.
With this earning release, the MARA stock is expected to reach new heights, and the prices are up by 12.45% in the February 27, 2025, pre-market session.
Why is MARA stock struggling below 20,50,100, and 200-day EMA?
Market watchers argue that the bearish movement in Marathon stock seems to be primarily fueled by the company’s decline in revenue and earnings in Q2 and Q3 of 2024.
However, its earnings from Bitcoin mining operations have reached new heights in the past, and as of writing, it holds 0.128% of the total supply of BTC, which means around 26,842 Bitcoins.
Over time, MARA has made remarkable efforts to maintain its presence in the market, it also boosted its power capacity. Also, it has increased its data center to 70% from 0%.
If the pre-market momentum continues till the opening of the market, there are higher chances that it might cross $13 and soon retest the initial resistance of $15, followed by $18. In case of continued bearishness, experts see $10 as initial support with $7 as the next support.
Not only MARA but several other companies have reported a surge in revenue in the last quarter of 2024. Yet, the ones involved in crypto mining operations have also reported growing income after the 4th Bitcoin halving that took place in the middle of 2024.
It is speculated that in the near future, these crypto-based companies are expected to register further growth as, after Donald Trump’s victory, the wider market is changing rapidly.
Why has the crypto market been falling constantly for the past 78 hours?
In the past three days, the wider market has lost more than $500 million, and at the same time, the Bitcoin ETF market has mirrored severe losses.
Until publishing, the crypto market cap was less than $3 trillion at $2.87, with a loss of 2.89% in the past 24 hours, and is down by 5.90% in a week.
Major crypto coins and tokens like Bitcoin, Ethereum, Solana, Dogecoin, and Cardano. BTC is below $90k at $86,469 with a loss of 11.50% in a week. Its current prices are below its 20,50, 100, and 200-day exponential moving average.
The top losers include XDC Network, Quant, DeXe, Mantle, Mantra, and Monera, and at the same time, the gainers are Jupiter, Aptos, Worldcoin, Ethena, and Movement.
