Crypto stocks rally as Bitcoin price continues to climb
Cryptocurrency stocks are rising Wednesday on the back of the continued climb in the price of Bitcoin, which has climbed a further 4%.
Bitcoin is currently trading around $51,770, its highest level since December 2021. The rise has taken its market cap to $1 trillion. Ethereum, the second-largest cryptocurrency, is up close to 4% at the time of writing, trading at around $2,746.
The rise in cryptocurrencies has seen exchange Coinbase (NASDAQ: COIN) shares rally more than 10% on Wednesday, trading at $155.61. The stock initially hit a high of over $160 per share.
Meanwhile, Bitcoin mining companies Riot Platforms (NASDAQ: RIOT) and Marathon Digital Holdings (NASDAQ: MARA) have jumped, up 9% and 12%, respectively.
By Sam Boughedda