Zeta Network's Stock More Than Quadruples After Partnering With SOLV To Monetize Bitcoin Holdings

Shares of Zeta Network Group (ZNB) surged more than 200% in pre-market trade on Tuesday after the company announced a strategic partnership with SOLV Foundation aimed at optimizing its Bitcoin (BTC) holdings.

ZNB’s stock price traded at more than $5 after gaining over 215% in pre-market trading. On Stocktwits, retail sentiment around the shares jumped to ‘bullish’ from ‘bearish territory as chatter rose to ‘normal’ from ‘extremely low’ levels over the past day.

Under the agreement, Zeta plans to deposit its Bitcoin with SOLV, a multi-chain Bitcoin staking and structured finance platform. However, the company did not disclose how many BTC it’s currently holding.

The partnership will also establish a joint committee to promote the adoption of SOLV’s Bitcoin products across multiple blockchains and explore new financial instruments. Both companies plan to collaborate on research, white papers, and strategies for corporate Bitcoin usage, staking, and tokenized assets.The entertainment technology company, which has traditionally focused on AI applications in the education and entertainment sectors, is now leveraging its Bitcoin treasury to generate yield rather than holding BTC passively. 

“This partnership allows Zeta to transition from passive Bitcoin holding to actively generating yield and capital efficiency,” a company spokesperson said. 

The announcement comes as Bitcoin’s price is trading at record highs. BTC was trading at around $125,000 in early morning trade on Tuesday after hitting an all-time high of more than $126,000 during the previous session. On Stocktwits, retail sentiment around the apex cryptocurrency trended in ‘extremely bullish’ territory amid ‘high’ levels of chatter.

Read also: BNB Token Surges To Record High, Overtakes XRP As Third-Largest Cryptocurrency

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