SK Hynix just pulled off one of the largest IPOs in recent memory, raising roughly $27B in a offering that was 7x oversubscribed. Priced at $149 per share, the stock was indicated to open near $180, and the ripple effects reached well beyond semiconductor stocks.
That kind of institutional appetite for AI-adjacent hardware sent a clear signal: big money is still chasing risk. Crypto markets, ever the eager dance partner to tech euphoria, responded accordingly.
The numbers across crypto
Bitcoin traded near $64K, up 1.8% over 24 hours and 3.3% over the past week, according to CoinGecko data. Nothing explosive for the flagship asset, but steady enough to suggest the bid underneath it is real.
Ethereum climbed toward $1,800, posting a 2.9% gain in the same 24-hour window. Solana held near $78 with a more modest 0.3% move. XRP edged above $1.
