Three Crypto Stocks to Watch in the US Today: IREN, CIFR, and RVYL
After a strong week of recovery for risk assets, US crypto stocks continue to record impressive gains. The recovery of the crypto market has brought back investors' attention to stocks related to blockchain and cryptocurrency mining technology. Among them, the three prominent names today are Iris Energy (IREN), Cipher Mining (CIFR), and Ryvyl Inc (RVYL).
Iris Energy (IREN): Strong investment capital from convertible bonds
IREN is recording new gains after successfully completing a $550 million senior convertible bond offering. Initially, the company planned to raise $450 million, but due to the demand exceeding expectations from institutional investors, the issuance scale was expanded by $100 million through the greenshoe option. This over-issuance shows the market’s strong belief in Iris Energy’s long-term growth prospects.
IREN shares rose 6.79% to close at $14.00 in Friday’s trading session. Prior to today’s open, the stock had edged up to $14.82 and could hit $15.79 in the short term if the positive trend continues. However, the risk of a correction remains if demand weakens, with notable support at $13.51.
Cipher Mining (CIFR): Breakout on New Black Pearl Facility
CIFR is another cryptocurrency mining stock that is gaining traction. CIFR shares surged 67% to $4.26 last Friday following the announcement of the start of operations and mining at a new facility called Black Pearl. Cipher Mining said in its June 23 update that the facility has reached 2.5 EH/s of capacity and is expected to expand further in Q3 2025 with the addition of new mining rigs.
In today's pre-market trading session, CIFR continued to rise to $4.42. With buying pressure remaining strong, the stock price could continue to target the $4.70 region. However, if trading volume declines, the possibility of a correction to $4.03 should also be considered.
Ryvyl Inc (RVYL): Expanding Blockchain Strategy and Preparing for IPO
RVYL is gradually rebuilding market confidence through restructuring efforts and expanding into the blockchain sector. RVYL shares rose 4.5% on Friday, closing at $0.82. In early trading today, the price continued to climb to $0.89.
The fresh impetus comes from the news on June 16 that Ryvyl has filed a Form S-1 application with the US Securities and Exchange Commission (SEC) in preparation for an initial public offering (IPO). Although the specific number of shares has not been disclosed, the move shows that the company is preparing for a major step in raising capital and expanding its operations. If the buying momentum continues, RVYL shares could hit $0.91 on the day.
Conclusion
IREN, CIFR, and RVYL are three stocks in the cryptocurrency industry that are making outstanding progress in both business operations and market performance. With support from macro factors such as Bitcoin's bullish trend and institutional investor interest, these stocks could continue to record good performance in the short term.
However, investors also need to closely monitor market fluctuations, liquidity levels, and inherent risks from capital raising plans or infrastructure expansion capabilities to make appropriate investment decisions. As the crypto market gradually becomes more connected to traditional finance, stocks like IREN, CIFR, and RVYL will likely continue to be bright spots in the watchlists of astute investors.