Marathon Digital shares rise as cryptocurrency market gains momentum

The flagship cryptocurrency recently saw a slight decrease in value, returning below the $63,182 mark. However, the positive sentiment that had driven altcoins higher also influenced the crypto stocks market.

This led to an increase in BTC trading by 2.8% over the past 24 hours. Last week, the stock exceeded $20 as the Bitcoin miner announced mining activities for Kaspa (KAS).

Today’s gains are significant, with the stock aiming for the highs observed in May and March of this year, coinciding with notable peaks for BTC. MARA stock spiked double digits, while COIN shares of Coinbase Global, Inc. traded above $230 and increased by 4% amid Coinbase Prime related news.

The year-to-date increase of COIN, up by 47%, surpasses the 43% price gains of Bitcoin during the same period. Despite previous selling pressure, Riot Blockchain (RIOT) saw a 5% increase for the day, but shares have declined by 37% year-to-date, underperforming Bitcoin and the S&P 500.

Bitfarms stock was slightly down.

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