Why Bitcoin-, Ethereum- And Litecoin-Related Stocks Are Exploding Higher

Shares of several cryptocurrency-related companies, including Coinbase Global, Inc. COIN, Marathon Digital Holdings, Inc. MARA and Riot Blockchain, Inc. RIOT, are trading higher in sympathy with the price of Bitcoin BTC/USD and Ethereum ETH/USD.

Compass Point analyst Chase White also maintained Riot Blockchain with a Buy and lowered the price target from $14 to $11.

White also maintained Marathon Digital with a Buy and lowered the price target from $30 to $21.

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Coinbase is a provider of end-to-end financial infrastructure and technology for the crypto-economy. The stock was up 8.86% at about $72.27 at publication time.

Marathon Digital is focused on mining digital assets. It owns cryptocurrency mining machines and a data center to mine digital assets. Shares were up 11.24% at about $14.35 at publication time.

Riot Blockchain is focused on building, supporting and operating blockchain technologies. The stock was up 12.98% at about $6.84 at publication time.

BTC, ETH Price Action: At publication time, Bitcoin was up 3.48% at about $20,012 and Ethereum was up 8.63% at about $1,464.