Why Bitcoin- And Ethereum-Related Stocks Are Trading Higher Today

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

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

See Also: Jack Dorsey Explains Why He Prefers Bitcoin Over Ethereum

Coinbase is the leading cryptocurrency exchange platform in the United States. The stock was up 3.14% at $186.67 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 7.4% at $22.77 at publication time.

Riot Blockchain is focused on building, supporting and operating blockchain technologies. At publication time, the stock was up 8.05% at $15.98.

BTC, ETH Price Action: At the time of writing, Bitcoin was up 7.37% at $39,623 over a 24-hour period and Ethereum was up 9.07% at $2,883.03 over the same period of time.

Photo: satheeshsankaran from Pixabay.