Shares of crypto stocks are trading higher amid a rebound in Bitcoin.
Portfolio Pulse from Benzinga Newsdesk
Shares of crypto stocks are trading higher amid a rebound in Bitcoin.
June 25, 2024 | 2:45 pm
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POSITIVE IMPACT
Coinbase Global Inc. (COIN) shares are trading higher due to a rebound in Bitcoin prices.
As a major cryptocurrency exchange, Coinbase's stock price is highly correlated with Bitcoin prices. The rebound in Bitcoin is likely to drive more trading volume and revenue for Coinbase.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Marathon Digital Holdings Inc. (MARA) shares are trading higher due to a rebound in Bitcoin prices.
Marathon Digital is a major Bitcoin mining company. A rebound in Bitcoin prices directly increases the value of the Bitcoin they mine, positively impacting their stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Riot Platforms Inc. (RIOT) shares are trading higher due to a rebound in Bitcoin prices.
Riot Platforms is another major Bitcoin mining company. The rebound in Bitcoin prices increases the profitability of their mining operations, leading to a rise in their stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100