[ad_1]
© Investing.com Coinbase (COIN) stock rises as Bitcoin rally continues
Coinbase (NASDAQ:) shares rose more than 6% in premarket trading on Monday, reflecting Bitcoin’s continued strength.
The increase coincided with the rise above the $71,000 mark and marked a new record high for the cryptocurrency. The price of Bitcoin rose to $71,837. It is currently trading at $71,615, representing an intraday jump of approximately 3.75%, highlighting the ongoing bullish momentum in the cryptocurrency market. At the time of writing, Coinbase shares are trading at $274, up 6.77%.
The surge in Coinbase stock price and Bitcoin’s record-breaking rally reflect investors’ renewed interest in cryptocurrencies, especially given the launch of spot Bitcoin ETFs in the US.
Monday’s surge in cryptocurrencies was also supported by the UK’s Financial Conduct Authority’s announcement that it would not object to applications from Recognized Investment Exchanges (RIEs) to create a UK-listed market segment for cryptoasset-backed exchange traded notes (cETNs).
Additionally, the London Stock Exchange announced that it will begin accepting applications for Bitcoin and Ether ETNs in the second quarter of this year.
[ad_2]
Source link
