Cryptocurrency stocks are experiencing a surge in value as the price of Bitcoin continues its upward trajectory, climbing an additional 4%.
Bitcoin is presently trading around $51,770, marking its highest level since December 2021 and pushing its market capitalization to $1 trillion. Ethereum, the second-largest cryptocurrency, has also seen an increase of nearly 4%, currently trading at approximately $2,746.
The uptrend in cryptocurrencies has propelled shares of exchange Coinbase (NASDAQ: COIN) to rally over 10%, reaching $155.61 per share. The stock initially peaked at over $160 per share.
Furthermore, Bitcoin mining companies Riot Platforms (NASDAQ: RIOT) and Marathon Digital Holdings (NASDAQ: MARA) have witnessed significant gains, with increases of 9% and 12%, respectively.