- Top four cryptocurrency-related stocks on Nasdaq offered double-digit gains over the past five days.
- A collection of 24 global crypto stocks related to cryptocurrency mining, trading and investing have posted over 90% gains in 2021.
- $7.1 trillion worth of stocks is tied to cryptocurrencies and decentralized application projects of Web3.
Cryptocurrency-linked shares are outperforming traditional stocks. Stocks such as Coinbase, CME Group and Hut 8 mining corp are leading the way with double-digit gains as Bitcoin is on the cusp of a new all-time high.
Two dozen crypto stocks have posted 91% in gains this year
Over two dozen global cryptocurrency stocks linked to mining, investing, and trading crypto have posted over 91% gains. Bloomberg curated this group of two dozen crypto companies that outperformed the energy, financial and technology sectors.
As BTC continues its upward climb, stocks of companies that dabbled in cryptocurrencies are at the top of the stock market leaderboard.
Crypto-linked equities surge amid Bitcoin rally.
Craig Erlam, a senior market analyst at a foreign-exchange company Oanda, believes that
It remains to be seen if the ETF listing will stoke the next surge in Bitcoin prices or end up being an opportunity to take profits. Either could be the trigger for some pretty wild price action in the cryptocurrency space.
Crypto mining companies Marathon Digital Holdings Inc, Hut 8 Mining Corp and Bitfarms Ltd., are up over 180% since the beginning of 2021.
Since SEC’s approval of ProShares’ Bitcoin ETF, Coinbase (COIN) has posted nearly 24% gains, and Hut 8 Mining Corp (HUT) gained 21% on Nasdaq. Bitcoin price flirted with its all-time high, and analysts have a bullish outlook on BTC.
FXStreet analysts have evaluated the BTC price trend and predicted that Bitcoin would make a new all-time high before retracing to $58,000.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Polygon joins forces with WSPN to expand stablecoin adoption
WSPN, a stablecoin infrastructure company based in Singapore, has teamed up with Polygon Labs to make its stablecoin, WUSD, more useful in payment and decentralized finance.
Coinbase envisages listing of more meme coins amid regulatory optimism
Donald Trump's expected return to the White House creates excitement in the cryptocurrency sector, especially at Coinbase, the largest US-based crypto exchange. The platform is optimistic that the new administration will focus on regulatory clarity, which could lead to more token listings, including popular meme coins.
Cardano's ADA leaps to 2.5-year high of 90 cents as whale holdings exceed $12B
As Bitcoin (BTC) gets closer to the $100,000 mark for the first time — it crossed $99,000 earlier Friday — capital is rotating into alternative cryptocurrencies, creating a buzz in the broader crypto market.
Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange
Shiba Inu trades slightly higher, around $0.000024, on Thursday after declining more than 5% the previous week. SHIB’s on-chain metrics project a bullish outlook as holders accumulate recent dips, and dormant wallets are on the move, all pointing to a recovery in the cards.
Bitcoin: Rally expected to continue as BTC nears $100K
Bitcoin (BTC) reached a new all-time high of $99,419, just inches away from the $100K milestone and has rallied over 9% so far this week. This bullish momentum was supported by the rising Bitcoin spot Exchange Traded Funds (ETF), which accounted for over $2.8 billion inflow until Thursday. BlackRock and Grayscale’s recent launch of the Bitcoin ETF options also fueled the rally this week.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.