Why Bitcoin- And Ethereum-Related Stocks Are Rising

Cryptocurrency-related stocks, including Coinbase Global Inc COIN, Marathon Digital Holdings Inc MARA and Riot Blockchain Inc RIOT, are trading higher Tuesday amid a weekend increase in crypto prices, led by Bitcoin BTC/USD, Ethereum ETH/USD and Cardano ADA/USD.

The crypto market has been trending lower alongside traditional markets over the last few months. The weekend rally in crypto comes after the broader markets bounced off the lows and moved higher last week. The move higher in crypto also comes amid increased optimism in Asian markets. 

Coinbase is the leading cryptocurrency exchange platform in the United States. Coinbase shares were up 5.15% at $79.20 at press time.

Marathon Digital is focused on mining digital assets. The company owns cryptocurrency mining machines and a data center to mine the digital assets. The stock was up 8.76% at $11.17 at last check.

Riot Blockchain is focused on building, supporting and operating blockchain technologies. The stock was up 7.32% at $7.77 at press time.

$BTC, $ETH Price Action: Bitcoin traded higher by more than 7% over the weekend, while Ethereum climbed about 6% higher. Cardano surged more than 25% over the weekend.

Photo: EivindPedersen from Pixabay.