Bitcoin led a notable surge in cryptocurrencies on Monday, pulling up other digital currencies and positively impacting the shares of related companies. The surge included cryptocurrencies such as Solana, Ethereum, Cardano, Dogecoin, Uniswap, Ripple, Polkadot, and Polygon.
Crypto-related companies such as Coinbase (NASDAQ:COIN) Global Inc., MicroStrategy Inc., Riot Platforms Inc., Marathon Digital Holdings Inc., PayPal Holdings Inc (NASDAQ:PYPL)., NVIDIA Corp (NASDAQ:NVDA)., Advanced Micro Devices (NASDAQ:AMD) Inc., and Ebang International Holdings Inc. saw their share prices rise in tandem with the crypto rally.
However, not all market players shared in the gains. Shares of Overstock.com (NASDAQ:OSTK) Inc., Block Inc., and Tesla (NASDAQ:TSLA) Inc. experienced slight declines on Monday. The reasons for these specific drops were not provided.
Adding to the positive sentiment in the cryptocurrency space were the performances of several crypto-focused ETFs. The Bitwise Crypto Industry Innovators ETF, Grayscale Bitcoin Trust, and Amplify Transformational Data Sharing ETF all posted growth during Monday’s trading session.
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https://www.investing.com/news/cryptocurrency-news/bitcoin-drives-cryptocurrency-surge-lifting-related-stocks-93CH-3188247
