This BlackRock crypto acquisition is the best performer in last 90 days

While BlackRock’s Bitcoin (BTC) and Ethereum (ETH) moves continue to draw the most attention, one of its lesser-known assets has been quietly stealing the spotlight.

According to wallet-tracking data on Arkham Intel, SPX6900 (SPX), a satirical meme coin poking fun at the S&P 500, is now the third-largest holding in the fund’s crypto portfolio, behind only BTC and ETH. 

BlackRock crypto holdings. Source: Arkham

The meme coin surged to a new all-time high of $2.27 on Monday, July 28, becoming the number one coin in terms of performance in the past 90 days.

Even more impressively, SPX has soared more than 80,900,000% since its 2023 debut, and technical indicators still show strong momentum. 

Top 100 coins performance over 90 days. Source: @0xSweep

SPX price analysis

SPX is currently trading at $2.13, down 5.89% in the past 24 hours but up just over 10% over the last week. With a market cap of $1.98 billion and around $94.28 million in daily trading volume, SPX6900 is now rated 52nd globally by market capitalization. 

SPX 24-hour price. Source: Finbold

Technically, SPX is bullish, being above key Fibonacci support at $1.99, with its moving average convergence divergence (MACD) histogram remaining positive at +0.022. 

However, the daily Relative Strength Index (RSI) sits at 73.06, suggesting overbought conditions. 

Moreover, a breakdown below the $2.05 pivot could push SPX down toward the $1.93 support zone or lower. 

Featured image via Shutterstock

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