Crypto Stocks Record Inflows As Bitcoin Moves Past $71,000

David Pokima
Updated
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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Highlights

  • Crypto stocks record gains after positive numbers from digital assets.
  • Coinbase and MicroStrategy notched a 2.9% and 3% market gain.
  • Bitcoin and Ethereum attracted wider weekly inflows as sentiments flipped.

Inflows to digital assets have sparked ripple effects outside the price rally extending to crypto stocks, decentralized finance (DeFi) numbers, and total value locked (TVL) spikes among others. Crypto stocks have seen surging inflows in the last 24 hours with some assets extending long-term gains. Crypto stocks are assets whose prices are affected by Bitcoin (BTC), altcoins, or developments in blockchain technology.

Coinbase and MicroStrategy Leads Crypto Stocks Gains

Crypto stocks have seen inflows today on the back of the wider market upturn. Digital asset exchange, Coinbase (COIN) recorded a 2.9% increase in the market. This positive price movement took weekly flows above 4.2%. COIN trades at $251 with bulls pointing to the Q1 2024 performance. 

The asset rallied in the first quarter posting better-than-expected Q1 earnings. Bull markets see crypto exchanges record high volume adding to profits with institutions pouring funds into assets. Coinbase launched its Smart Wallet today marking a growth in the asset.

MicroStrategy (MSTR) also recorded bullish flows on the stock market. The asset is up 3% in the market as bulls rally inflows on the back of crypto asset gains. At press time, MSTR trades at $1,694. Third has pushed recent gains of the asset above 2% this week. MicroStrategy‘s Michael Saylor remains bullish on Bitcoin price after large acquisitions of the asset. 

Bitcoin miner, Marathon Digital has rallied with other crypto stocks in the market. The asset trades upwards at $21.07, a 2.68% gain. Weekly figures are also around the same figure as the asset inches forward. 

Wider Market Spikes

Crypto stocks are up following a rise in cryptocurrency prices today. Digital assets continue to attract inflows as Bitcoin sees new inflows after a flip in sentiments. The price of the asset traded above $71.600 today igniting the wider market. Altcoins like Ethereum (ETH) and Solana (SOL) notched similar gains. ETH trades at $3,864, extending weekly and monthly inflows to 2.1% and 25% respectively. Meanwhile, Solana price breaches $170 and stands at $173. 

Also Read: VanEck Raises Ethereum (ETH) Price Target To $22,000 On ETF Hype

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
David is a finance news contributor with 4 years of experience in Blockchain Technology and Cryptocurrencies. He is interested in learning about emerging technologies and has an eye for breaking news. Staying updated with trends, David reported in several niches including regulation, partnerships, crypto assets, stocks, NFTs, etc. Away from the financial markets, David goes cycling and horse riding.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.