Why Stocks With Bitcoin And Ethereum Exposure Are Rising Today

Why Stocks With Bitcoin And Ethereum Exposure Are Rising Today

Cryptocurrency-related stocks including Coinbase Global Inc COINMarathon Digital Holdings Inc MARA and Riot Blockchain Inc RIOT are trading higher Tuesday amid an increase in crypto prices, led by Bitcoin BTC/USD and Ethereum ETH/USD.

Bitcoin climbed back above the $20,000 level on Tuesday and reached its highest levels in more than a week. Several other cryptocurrencies are rallying alongside Bitcoin, including Ethereum, which transferred from a proof-of-work system to a proof-of-stake system in a highly anticipated merge in mid-September.

Crypto is rallying despite a fall in broader markets. The S&P 500 closed at its lowest levels of 2022 on Monday.

Coinbase is the leading cryptocurrency exchange platform in the United States. Coinbase shares were up 5.67% at $65.81 at last check. 

Marathon Digital focuses on mining digital assets. The company owns cryptocurrency mining machines and a data center to mine the digital assets. The stock was up 6.45% at $10.23 at time of publication.

Riot Blockchain is focused on building, supporting and operating blockchain technologies. The stock was up 6.72% at $7.15 Tuesday morning.

See Also: Bitcoin Crosses Key $20,000 Level In Decisive Move Up

BTC, ETH Price Action: At time of publication, Bitcoin was up 7.46% over a 24-hour period at $20,241 and Ethereum was up 7.08% over a 24-hour period at $1,389.25.

Photo: Ricardo Goncalves from Pixabay.

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