The lawsuit follows after the lawsuit as some of the biggest cryptocurrencies rose Monday as the Trump administration reported that the range of tariffs could be narrowed on April 2nd, with a broader market rising.
Bitcoin rose 2.7% to $88,418.31, ether increased approximately 4.2% to $2,088.88, while Ripple’s XRP rose more than 1.1% to $2.47, starting at around 11:15am in New York.
“Cryptocurrency has been going through a strong day and Bitcoin is showing positive performance,” Nansen analyst Nikolai Songaard told Quartz. “Given the correlation between token performance and crypto-related companies’ valuations, this has earned stocks such as MicroStrategy, Coinbase, and Robinhood.”
Deutsche Bank (DB) research analyst Marion Labour said on CNBC Monday that Crypto’s Hot and Cold 2025 is partly linked to unknowns around the Trump administration’s planned reserves. “There has also been a lot of momentum in terms of financial tokenization these days.”
Bernstein analysts said they hope for an increase in relations between crypto and traditional finance. “We see a world where crypto exchanges offer spot cryptography, crypto derivatives and tokenized stocks, but broker platforms also expand crypto services,” they write.
Let’s take a closer look at how the stocks of top crypto companies operate.
Coinbase (Coin) rose 5% per share, up over $200. At the beginning of March, Rosenblat analyst Chris Blendler called Coinbase the “clear blue chip” of crypto, citing its non-trade revenue growth, saying that “inventory will prove to be more resilient in the next crypto winter.” Still, inventory has fallen by about 22% since the start of the year.
MicroStrategy (MSTR) has jumped 7.3%, pushing its total supply beyond 500,000 BTC after snapping around $5 billion in Bitcoin.
Robinhood (Hood) rose 9.6%, recovering some of its recent losses. A week ago, the company debuted its forecast market product in-app.
HUT 8 (HUT) shares rose more than 7.3%. Earlier this month, Crypto Mining Firm said it had secured “592 acres in Louisiana” with its new $2.5 billion 300MW data center.
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