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Here's Why The9 Stock Popped Today

·2-min read
Here's Why The9 Stock Popped Today

Shares of China-based cryptocurrency miner The9 (NASDAQ: NCTY) jumped by as much as 16.5% Monday morning on news related to its non-fungible token (NFT) platform, NFTSTAR. The company revealed the launch of NFTSTAR on Aug. 30, and on Monday, it announced an exclusive agreement with star running back Christian McCaffrey of the NFL's Carolina Panthers. Under its new deal with McCaffrey, The9 will develop, sell, and trade NFT creations developed with the athlete.

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