GME Ethereum (GME), a cryptocurrency and platform dedicated to promoting financial decentralization, has partnered up with Stocktwits, the social media platform for traders, investors, and market professionals, as reported to Finbold on Monday, February 24.
Inspired by the 2021 GameStop (NYSE: GME) short squeeze, which led to GameStop shares skyrocketing by 179% over three days, GME Ethereum relies on blockchain transparency and security to promote financial autonomy.
Promoting GME Ethereum visibility
Trying to establish itself in the meme finance space and the crypto industry at large, GME Ethereum has joined forces with Stocktwits to help users track the meme coin’s price movements, monitor market sentiment, and partake in real-time discussions.
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Stocktwits, currently boasting over 10 million users, will likewise enhance GME Ethereum’s visibility by providing market insights, interactive tools, and various original content set to come out in the near future.
Indeed, following its Stocktwits listing, GME Ethereum rose by 27% and became the top-performing asset on the platform within just 24 hours.
As such, the partnership helps GME Ethereum promote and offer its blend of financial independence and data-driven investing.
The state of the GameStop stock
GameStop saw a 10% stock price boost following chief executive officer (CEO) Ryan Cohen’s meeting with Michael Saylor, the executive chairman of MicroStrategy (MSTR), a company known for its Bitcoin (BTC) holdings (~$31.1 billion).
Published on X (formerly Twitter), Cohen’s photo with Saylor led to a lot of speculation that GameStop might be looking to enter the cryptocurrency sector.
Such a move could further promote and reinforce the GME movement’s impact on the industry.
While the GameStop retail trading frenzy has been seen as a fad, the data is much different.
The most recent GameStop reports (Q3 2024) claimed $4.616 billion in cash, cash equivalents, and marketable securities.
In other words, GME Ethereum and GameStop continue to generate buzz even with the ongoing market uncertainties, so GME Ethereum could potentially climb even higher in the industry when the market goes bullish.
