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UAE Investors Hunt Value in AI and Enterprise Tech Amid Volatility

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George Naddaf Managing Director Mena At Etoro

UAE investors shifted toward software and AI infrastructure shares in Q1 2026, according to eToro data. The press release documents which stocks saw the largest gains and how UAE holders responded to ongoing market volatility, including a notable jump in holders for ServiceNow and Adobe as their prices trended lower. It also highlights AI hardware and memory players such as Super Micro Computer, Micron, and Oracle as popular buys, and notes ongoing attention to mega-cap tech. The release frames these moves as selective conviction rather than broad risk-off behavior, with comments from eToro’s MENA MD.

Key points

  • ServiceNow led Q1 2026 risers with a 125% increase in holders as the stock fell about 32%, while announcing partnerships with OpenAI and Anthropic.
  • AI infrastructure names Super Micro Computer (+65%), Micron (+39%), and Oracle (+38%) also saw notable holder increases in Q1 2026.
  • Adobe rose 54% in holders despite roughly 25% price decline and CEO leadership changes noted in the period.
  • Micron exception: posted stock gains driven by momentum in AI memory demand and limited new supply.
  • Top holdings snapshot: NVIDIA remained first; Amazon rose to second; Tesla third; Microsoft fourth; Apple fifth in the rankings.

Why it matters

These data points suggest UAE investors are selectively engaging with AI and enterprise tech, seeking long-term value amid volatility. The dip-buying pattern in software and AI infrastructure hints at confidence in AI-enabled growth, rather than a blanket risk-off stance. For readers tracking regional sentiment, the mix of mega-cap leaders and niche AI names indicates which parts of the tech value chain are drawing attention in the UAE at the start of 2026.

What to watch

  • Updated data after 31 March 2026 will show whether the tilt toward software and AI infrastructure persists.
  • ServiceNow’s partnerships with OpenAI and Anthropic may influence investor sentiment.
  • Watch for changes in the top held rankings (NVIDIA, Amazon, Tesla, Microsoft, Apple) in upcoming quarters.

Disclosure: The content below is a press release provided by the company or its PR representative. It is published for informational purposes.

UAE Investors Hunt Value in AI and Enterprise Tech Amid Market Volatility

Abu Dhabi, United Arab Emirates – April 15, 2026: Against a backdrop of geopolitical conflict in the Gulf and rising investments in AI, retail investors increased their exposure to software and AI infrastructure stocks whose share prices have taken a hit in the first quarter of 2026, according to the latest data from trading and investing platform, eToro.

eToro looked at which companies saw the largest proportional change in holders quarter-on-quarter (table 1) and also examined the 10 most held stocks on the platform among users based in the UAE (table 2).

Software and SaaS names featured prominently in the Q1 top risers list, suggesting UAE investors used the sector-wide sell-off to buy the dip. ServiceNow topped the list with a 125% jump in holders as its share price fell around 32% in Q1, although in the same quarter it announced partnerships with AI heavyweights OpenAI and Anthropic. Adobe ranked third (54% increase in holders) even as the stock came under pressure over concerns about its ability to defend its core software business against AI disruption. Shares were down about 25% by mid-March, along with news that the chief executive would step down, suggesting UAE investors were buying during the pullback.

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AI infrastructure was another clear theme in Q1: Super Micro Computer (+65%) in second place, followed by Micron (+39%) in fifth, and Oracle (+38%) in sixth. Investors appear to have bought into a late-quarter sell-off with Super Micro Computer. The stock had traded largely sideways before tumbling 33% after US prosecutors charged the co-founder over an alleged scheme to smuggle Nvidia-powered servers to China. Oracle also fits the buy-the-dip theme. The stock has been volatile amid concerns about spending tied to its AI cloud expansion.

The standout exception was Micron, one of the few names in the group to post stock price gains over the quarter. The move was driven by stronger momentum from surging demand for AI memory chips and limited new supply.

George Naddaf Managing Director Mena At Etoro
George Naddaf Managing Director Mena At Etoro

George Naddaf, Managing Director at eToro (MENA), said: “In Q1, UAE investors approached technology with selectivity and opportunism. Some of the companies that drew the strongest increase in holders had fallen to around 25% to 33%, suggesting investors were willing to buy into the sell-off where they still saw long-term value.”

He added: “Despite talk about the ‘Saaspocalypse’, the idea that AI will dismantle traditional SaaS business models, UAE investors showed sustained interest in software. They are honing in on companies that they believe have a clear role in the tech value chain and potential for monetisation. While geopolitical tensions added to market volatility, the pattern in holdings suggests UAE investors were driven more by sector conviction than by a broad risk-off mindset.”

Other Q1 risers spanned multiple sectors. Investors pushed e.l.f. Beauty to fourth place by increasing holdings 52%. They also drove gains in Duolingo, Gorilla Technology, Hims & Hers Health, and SoFi Technologies, highlighting interest in companies across digital education, IT services, telehealth, and fintech.

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Q1’s ‘top fallers’ list featured a mix of industries. Twist Bioscience Corporation led the pack with a 90% decrease in holders, followed by Okta (-49%) and CoreWeave (-47%). BioMarin Pharmaceuticals also saw a big decline, with holders down 35% QoQ.

The most widely held stocks were largely unchanged from last quarter, with only minor reshuffles in the top half. NVIDIA held onto first place, while Amazon rose to second, and Microsoft to fourth. Tesla slipped to third and Apple to fifth, while positions six to ten remain unchanged.

Naddaf remarked: “Local investors’ selective approach to technology is further evidenced by the fact that AI and tech companies feature in both the risers and fallers lists. They appear to be making efforts to distinguish between the winners and laggards of the AI revolution.”

Looking at the most held ranking, he added: “It suggests UAE investors are continuing to treat these names as core positions rather than short-term trades. NVIDIA held onto the top spot, while Amazon moved up to second and Microsoft climbed to fourth, but the ranking is largely unchanged. This points to continued conviction in mega-cap technology companies contributing to AI infrastructure and enterprise applications. In a quarter marked by uncertainty, that kind of stability points to a confidence in scale, earnings visibility, and relevance.”

Table 1: Shows which stocks have seen the biggest proportional increase and decrease in holders on the eToro platform in the UAE, quarter-on-quarter.

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Uae Investors Hunt Value In Ai And Enterprise Tech Amid Volatility
Uae Investors Hunt Value In Ai And Enterprise Tech Amid Volatility

Table 2: Shows stocks most widely held by eToro users in the UAE, and their position last quarter.

Uae Investors Hunt Value In Ai And Enterprise Tech Amid Volatility
Uae Investors Hunt Value In Ai And Enterprise Tech Amid Volatility

Notes:

Past performance is not an indication of future results.

The tables compare data from the eToro platform on the final day of Q1 2026 with the final day of Q4 2025. The data refers to funded accounts of eToro users in the UAE.

The data in the first table shows the 10 stocks that have seen the largest proportional increases and decreases in holders on the eToro platform quarter-on-quarter (Q1 2026 vs Q4 2025).

The data in the second table shows the top 10 most-held stock positions (open positions) by investors on the eToro platform at the end of Q1 2026. As the vast majority of stocks traded on eToro are real assets, this data does not include positions held as CFDs.

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Stock price data from Yahoo Finance.

All data accurate as of after market close on 31 March 2026.

Media Contact

PR@etoro.com

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About eToro:
eToro is the trading and investing platform that empowers you to invest, share and learn. We were founded in 2007 with the vision of a world where everyone can trade and invest in a simple and transparent way. Today we have 40 million registered users from 75 countries. We believe there is power in shared knowledge and that we can become more successful by investing together. So we’ve created a collaborative investment community designed to provide you with the tools you need to grow your knowledge and wealth. On eToro, you can hold a range of traditional and innovative assets and choose how you invest: trade directly, invest in a portfolio, or copy other investors. You can visit our media centre here for our latest news.

Disclaimers:

Not investment advice. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

eToro is a group of companies that are authorised and regulated in their respective jurisdictions. The regulatory authorities overseeing eToro include:

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  • The Financial Conduct Authority (FCA) in the UK
  • The Cyprus Securities and Exchange Commission (CySEC) in Cyprus
  • The Australian Securities and Investments Commission (ASIC) in Australia
  • The Financial Services Authority (FSA) in the Seychelles
  • The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) in the UAE
  • The Monetary Authority of Singapore (MAS) in Singapore

This communication is for information and education purposes only and should not be taken as investment advice, a personal recommendation, or an offer of, or solicitation to buy or sell, any financial instruments. This material has been prepared without taking into account any particular recipient’s investment objectives or financial situation, and has not been prepared in accordance with the legal and regulatory requirements to promote independent research. Any references to past or future performance of a financial instrument, index or a packaged investment product are not, and should not be taken as, a reliable indicator of future results. eToro makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication.

Regulation and License Numbers:

Middle East

eToro (ME) Limited, is licensed and regulated by the Abu Dhabi Global Market (“ADGM”)’s Financial Services Regulatory Authority (“FSRA“) as an Authorised Person to conduct the Regulated Activities of (a) Dealing in Investments as Principal (Matched), (b) Arranging Deals in Investments, (c) Providing Custody, (d) Arranging Custody and (e) Managing Assets (under Financial Services Permission Number 220073) under the Financial Services and Market Regulations 2015 (“FSMR”). Registered Office and its principal place of business: Office 26 and 27, 25th floor, Al Sila Tower, ADGM Square, Al Maryah Island, Abu Dhabi, United Arab Emirates.

Risk & affiliate notice: Crypto assets are volatile and capital is at risk. This article may contain affiliate links. Read full disclosure

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Bitcoin Wholecoiner Exchange Flows Drop to 2018 Levels, Tightening Supply

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Bitcoin Wholecoiner Flows on Binance

Bitcoin (BTC) wholecoiner exchange flows have collapsed to levels not seen since 2018, signaling a structural shift in how large holders interact with the market.

The decline coincides with Donald Trump’s latest signal of diplomatic coordination with Chinese President Xi Jinping over the Strait of Hormuz, adding a geopolitical tailwind to an already tightening supply picture.

Wholecoiner Flows Hit Multi-Year Lows

Transactions of at least one full BTC sent to exchanges have fallen sharply. On the Binance exchange, the monthly average now sits around 6,000 BTC, far below the 15,400 BTC recorded in 2021.

Bitcoin Wholecoiner Flows on Binance
Bitcoin Wholecoiner Flows on Binance. Source: DarkFrost on X

At a global level, the picture is more pronounced. Total transfers of at least one BTC to exchanges have dropped to roughly 27,500 BTC, compared to 80,000 BTC at the 2018 peak.

Several factors explain the trend. Rising prices have made holding a full bitcoin increasingly difficult, reducing the pool of wholecoiners over time.

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The expansion of trading platforms and the introduction of spot Bitcoin ETFs in 2024 now allow investors to gain exposure without directly holding BTC.

A growing share of holders also appears to favor long-term strategies, further reducing exchange activity.

“This decline in active wholecoiners on exchanges reflects both reduced selling pressure and a gradual transformation of market structure, with a growing share of supply becoming increasingly illiquid over time,” Darkfost wrote.

Short-Term Holders Take Profits While Shorts Pile In

While long-term holders pull back, short-term holders (STHs) have moved aggressively in the opposite direction.

When BTC tested the $75,000 level, STHs sent more than 65,000 BTC to exchanges within 24 hours, with 61,000 of those transfers locked in profit.

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Analyst Michaël van de Poppe noted that the derivatives market is setting up for a potential squeeze. Funding rates have turned negative while open interest has climbed, meaning traders are overleveraged short as BTC tests resistance for the third time.

“…as long as BTC remains above $72K, I wouldn’t be worried, and I’d rather be looking for longs vs. shorts,” the analyst wrote.

He identified $85,000 to $88,000 as the next resistance zone if $75,000 breaks.

Bitcoin (BTC) Price Performance
Bitcoin (BTC) Price Performance. Source: TradingView

Separately, on-chain researcher Axel Adler Jr. flagged that Bitcoin’s Bull-Bear Index has flipped above zero, clearing the bear zone.

However, he cautioned that network profit and loss sentiment remains underwater, framing the current move as a recovery rather than a new bull regime.

The post Bitcoin Wholecoiner Exchange Flows Drop to 2018 Levels, Tightening Supply appeared first on BeInCrypto.

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AAVE rises 4.3% as trades flat

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9am CoinDesk 20 Update for 2026-04-15: vertical

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.

The CoinDesk 20 is currently trading at 2058.34, up 0.4% (+9.17) since 4 p.m. ET on Tuesday.

Eighteen of 20 assets are trading higher.

9am CoinDesk 20 Update for 2026-04-15: vertical

Leaders: AAVE (+4.3%) and APT (+3.8%).

Laggards: CRO (-0.6%) and SOL (-0.5%).

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The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.

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eToro (ETOR) Stock Gains Ground Following $70M Zengo Crypto Wallet Acquisition

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ETOR Stock Card

Key Highlights

  • Trading platform eToro has entered an agreement to purchase crypto wallet company Zengo for approximately $70 million
  • Zengo leverages multi-party computation (MPC) security, eliminating seed phrase requirements
  • The acquisition is designed to integrate self-custody features and decentralized trading capabilities into eToro’s ecosystem
  • ETOR shares have declined more than 1% so far this year and approximately 48% over the trailing twelve months
  • Citizens analyst Devin Ryan reduced his target price to $85 while maintaining a bullish outlook with ~145% potential upside

eToro (ETOR) revealed on Wednesday that it has reached an agreement to purchase Zengo, a crypto wallet service provider, in a transaction valued at approximately $70 million according to industry reports. The company’s shares experienced a modest uptick following the announcement.

Established in 2018, Zengo has amassed over 2 million users worldwide. The platform provides a non-custodial wallet solution, empowering users to maintain direct control over their digital assets without intermediary involvement.

Zengo’s architecture employs multi-party computation (MPC) technology for asset security, eliminating the traditional seed phrase requirement. This approach addresses a persistent challenge in self-custody solutions: the vulnerability associated with lost or compromised recovery keys.


ETOR Stock Card
eToro Group Ltd., ETOR

The acquisition brings established functionality including token swapping capabilities, staking services, and fiat currency onramps that Zengo currently provides. The wallet infrastructure will operate independently from eToro’s regulated offerings, enabling users to engage directly with third-party decentralized protocols.

Speaking on the strategic timing, eToro CEO and co-founder Yoni Assia stated, “As we often say, crypto downtimes are the time to build and this acquisition reflects that long-term approach.”

According to company statements, the purchase will enable eToro to better serve emerging cryptocurrency applications — particularly tokenized real-world assets, decentralized prediction markets, and perpetual futures contracts. The platform intends to weave Zengo’s underlying technology into its core infrastructure moving forward.

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“[The acquisition] will strengthen our ability to support evolving digital asset use cases, including tokenized assets and emerging decentralized trading models,” eToro announced in an official statement.

The Zengo deal follows closely on the heels of eToro’s launch of its proprietary app marketplace, unveiled just one day earlier. This marketplace provides a centralized hub for investors and third-party developers to create and access trading tools, analytics platforms, and other functionality within eToro’s environment. ETOR shares jumped more than 4% following that app store reveal.

ETOR Stock Faces Headwinds Despite Strategic Moves

Notwithstanding recent strategic initiatives, the stock has struggled significantly. ETOR has shed over 1% since the beginning of the year and tumbled roughly 48% over the past twelve-month period.

Last week, Devin Ryan from Citizens adjusted his price target downward to $85 from a higher previous level, though this still represents approximately 145% appreciation potential from current trading levels. Ryan noted that “navigating volatility remains the central challenge” facing capital markets and fintech businesses, adding that cryptocurrency market sentiment “remains impaired” in the near term.

These headwinds were evident in eToro’s fourth-quarter financial performance. Revenue from digital assets plummeted 38% during the quarter that concluded on December 31. However, the company still managed to generate a quarterly profit of $69 million, representing approximately 16% growth compared to the same period a year earlier.

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Analyst Sentiment and Price Projections

Among Wall Street analysts, the consensus rating for ETOR stands at Moderate Buy, reflecting seven Buy recommendations and three Hold ratings issued over the last three months.

The average analyst price target currently sits at $52.80, suggesting roughly 52% upside potential from present price levels.

The Zengo transaction remains subject to standard closing requirements and regulatory conditions. While eToro has not publicly verified the $70 million purchase price, Bloomberg reported the figure based on information from a source familiar with the transaction terms.

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WULF lower by 6% after $900 million capital raise

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WULF lower by 6% after $900 million capital raise

TeraWulf (WULF), a US data center operator focused on bitcoin mining and AI computing, saw its shares drop early Wednesday, after the company announced a $900 million capital raise.

The firm priced 47.4 million shares at $19 each. WULF is down 5.8% to $19.73 in early trading. The underwriter greenshoe option is for an additional 7 million shares.

Alongside other AI infrastructure names, WULF has been on a scorching run, rising more than 50% since late March.

The proceeds are earmarked for funding the construction of a major data center campus in Hawesville, Kentucky, alongside repaying outstanding bridge financing and supporting future expansion.

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Preliminary Q1 results

Alongside the offering, TeraWulf released preliminary first-quarter 2026 results. The company expects revenue between $30 million and $35 million. The balance sheet showed $3.1 billion in cash and $5.8 billion in total debt.

Management highlighted a growing shift toward contracted HPC hosting revenues, which now account for over half of total revenue, positioning the business for more stable, long-term cash flows.

Compass Point analyst Michael Donovan, who has a Buy rating and a $28 price target on WULF, pointed to the shift in mix toward HPC as a positive inflection point for the business, with contracted hosting revenue overtaking bitcoin mining for the first time. He also views the capital raise as a necessary step to unlock the next phase of growth. While acknowledging the dilution, he said the added funding improves visibility into the buildout of the Kentucky site, which he expects to be developed in phases based on customer demand. He added that demand for TeraWulf’s power and hosting capacity remains strong.

Looking ahead, Donovan expects the company’s revenue profile to change meaningfully as HPC scales. He forecasts that contracted hosting will become the dominant driver of revenue over the next two years, reducing reliance on bitcoin price swings and supporting a more predictable earnings stream.

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The shift reflects a broader trend across the industry, as bitcoin miners increasingly pivot toward AI and high-performance computing infrastructure to diversify revenue streams and improve margins.

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EU Adviser Says MiCA 2 Likely as Crypto Market Matures

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Europe, European Union, MiCA, Paris Blockchain Week

A European Commission adviser said the European Union’s landmark MiCA crypto regime is likely to evolve as digital asset markets develop beyond the conditions the law was originally designed to address.

Speaking at the Paris Blockchain Week (PBW) 2026, Peter Kerstens, an adviser on technological innovation, digital transformation and cybersecurity at the European Commission’s financial services department, said the Commission will review the Markets in Crypto-Assets Regulation (MiCA) and launch a public consultation to assess whether the rules are working for market participants and supporting business development.

The remarks suggest EU policymakers are already thinking about how MiCA may need to evolve as the crypto market matures. Kerstens said he could not predict the future, but added that EU financial legislation typically evolves in stages, suggesting it would be “rather unusual” if there were not a “MiCA 2” over time.

MiCA already contains a built-in review clause. The regulation requires the Commission to report on its application by June 30, 2027, and allows it to accompany that review with legislative proposals if needed, according to the Official Journal of the European Union.

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Europe, European Union, MiCA, Paris Blockchain Week
OKX global managing partner Haider Rafique (left) with Peter Kerstens (right) at the PBW 2026. Source: Cointelegraph

MiCA review signals next phase of EU crypto rules

Kerstens said the review is not a response to a broken framework, but part of an effort to ensure rules keep pace with a changing market structure. He said MiCA was designed at a time when crypto markets were dominated by a few large assets and many smaller tokens. 

He said that the ecosystem has since matured, requiring policymakers to reassess whether the framework fits in current conditions. 

Related: EU central bank backs plan for crypto supervision under EU markets watchdog

He also emphasized the role of industry feedback, saying that the Commission would begin with a public consultation with “no taboos.” Kerstens invited market participants to identify where rules should be expanded, adjusted or left unchanged. 

He warned that if regulation does not evolve alongside innovation, markets may develop around existing rules, creating legal uncertainty.  

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Kerstens’ comments come as aspects of MiCA and related frameworks are being tested in practice. On March 24, stablecoin issuer Circle urged the European Commission to adjust parts of its proposed Market Integration Package, including lowering thresholds that limit the use of euro-denominated stablecoins in settlement and expanding access for crypto-asset service providers. 

At the same time, policymakers are debating how MiCA should be implemented. On April 3, officials weighed whether to shift supervision of major crypto firms to the European Securities and Markets Authority (ESMA) amid concerns over inconsistent enforcement

Magazine: Singapore isn’t a ‘crypto hub’ — it’s something better: StraitsX CEO

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