© Reuters. Cryptocurrency Stocks Rebound as Bitcoin Price Continues Rising
Cryptocurrency stocks are rising on Wednesday due to the continued rise in the price of Bitcoin, which is up 4% higher.
Bitcoin is currently trading around $51,770, its highest level since December 2021. The rise has taken its market capitalization 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 of cryptocurrencies has sent shares of the Coinbase (NASDAQ 🙂) exchange up more than 10% on Wednesday, trading at $155.61. The stock initially reached a high of more than $160 per share.
Meanwhile, Bitcoin mining companies Riot Platforms (NASDAQ 🙂 and Marathon Digital Holdings (NASDAQ 🙂) are up, up 9% and 12%, respectively.
