Cryptocurrency stocks also rose as Bitcoin rose above $94,000 on Monday, its highest price in 30 days.
Bitcoin traded as high as $94,634 on Monday and recently traded at $94,103, after rising more than 3% in the past 24 hours, according to crypto price aggregator CoinGecko. Monday’s high was just north of the 30-day high seen on Dec. 9.
Ethereum, on the other hand, reached $3,253, still short of its one-month high. ETH has risen over 3% in the past day and was recently trading at $3,241. And XRP is up an impressive 11% over the past day, recently trading at $2.34, its highest price since November.
Cryptocurrency exchange Coinbase was up nearly 8% over the past day as of market close. The company, which trades on the Nasdaq under the ticker COIN, ended the day trading at just under $255. The San Francisco-based exchange launched a giveaway earlier today, promising one lucky trader one Bitcoin and a trip for two to Melbourne for the “ultimate Aston Martin F1 experience.”
Meanwhile, trading platform Robinhood is up about 7% over the past day. The company’s stock trades on the Nasdaq under the ticker HOOD and closed at $123. The company has relied heavily on prediction market offerings, using X to promote deals about which movies will win the Best Picture Oscar and which artists will headline Chicago’s Lollapalouse festival.
Coinbase and Robinhood are two of the leading companies in the crypto stock category, with market capitalizations of approximately $69 billion and $111 billion, respectively. Monday’s rise in stock prices was more pronounced in smaller companies like Bitcoin miners Iris Energy and Hut8, but it wasn’t necessarily due to mining activity.
Iris Energy, which trades under the ticker IREN, soared 13% on Monday to $48.24. The company announced in November that it had signed a $9.7 billion deal with Microsoft that puts it on track to deliver “200MW of critical IT workload” to the tech giant by the end of 2026.
Additionally, Hut8 stock, which trades under the symbol HUT, rose 13.6% to $58.25 by market close on Monday. The company recently signed a $7 billion AI contract backed by Google. The deal will see the company acquire a new data center. The company’s contract includes renewal options for up to 15 years and could be valued at $17.7 billion.
Other crypto stocks that posted big gains on the day include crypto exchange Gemini (up 7%), top Ethereum treasury company Bitmine Immersion Technologies (up 7%), and leading Bitcoin treasury company Strategy (up about 5%).
