Bitcoin drives cryptocurrency surge, lifting related stocks

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 SolanaEthereumCardanoDogecoinUniswapRipplePolkadot, 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 (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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