Why Bitcoin- And Ethereum-Related Stocks Are Rising Today

Cryptocurrency-related stocks including Coinbase Global Inc COIN, Marathon Digital Holdings Inc MARA and Riot Blockchain Inc RIOT are trading higher Monday morning amid a weekend increase in the price of Bitcoin BTC/USD and Ethereum ETH/USD.

The continued move higher in Bitcoin and Ether, the native token of the Ethereum blockchain, seems to be the result of a technical breakout.

Related Link: Bitcoin Crosses $42K Level, Ethereum Above $3K As Dogecoin And Meme Coins Shine Too — Why The Pressure On Crypto Market Is Still On

Coinbase is the leading cryptocurrency exchange platform in the United States. The stock was up 2.99% at $200.25 at time of publication.

Marathon Digital is focused on mining digital assets. It owns cryptocurrency mining machines and a data center to mine the digital assets. The stock was up 7.34% at $25.24 at publication time.

Riot Blockchain is focused on building, supporting and operating blockchain technologies. At publication time, the stock was up 8.63% at $18.01.

See Also: Do You Think Dogecoin Can Reach $1 Before Ethereum Gets To $10,000, And Cardano Hits $5?

BTC, ETH Price Action: At the time of writing, Bitcoin was up 2.71% at $42,827 over a 24-hour period and Ethereum was up 2.39% at $3,087.52 over the same period of time.

Photo: WorldSpectrum from Pixabay.