Crypto-Related Stocks Pushed Higher Today: Here's Why

Crypto-related stocks, such as Marathon Digital Holdings, Inc. MARA, Riot Platforms, Inc. RIOT, and Coinbase Global, Inc. COIN, continued to rise on Wednesday alongside gains in the crypto market, led by Bitcoin BTC/USD. Here's a look at what's going on.

What To Know: The past week has been marked by an uptrend in the crypto market. The election of pro-Bitcoin Argentinian presidential candidate Javier Milei earlier in the week caused a rise in cryptocurrencies and crypto-related stocks.

The crypto market has also experienced volatility in the past week amid Binance and CEO Changpeng Zhao's admission of guilt to federal charges on Tuesday and Zhao's subsequent resignation.

As previously reported by Benzinga, Zhao's guilty plea and Binance’s settlement are expected to boost the chances for eventual approval of a spot Bitcoin ETF. Bitcoin was last up 2.43% over a 24-hour period at $37,585.

Related Link: What's Going On With Zoom Stock?

MARA, RIOT, COIN Price Action: Marathon Digital closed Wednesday up 5.92% at $10.92, Riot Platforms closed up 3.85% at $11.60 and Coinbase closed up 3.56% at $109.25, according to Benzinga Pro.

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