NVDA gained a massive 197% since our AI first added it in November - is it time to sell? 🤔Read more

Crypto Markets Surge, Solana and Bitcoin Lead the Pack

Published 17/10/2023, 04:46 am
© Reuters.
BTC/USD
-
SOL/USD
-

On Monday, a wave of significant increases swept across the major cryptocurrencies, with Solana and Bitcoin leading the charge. Solana witnessed a robust 5.57% rise to $23.31, while Bitcoin followed closely, recording a 2.97% increase to $28,001.20. Other prominent cryptocurrencies like Ethereum and Ripple also experienced modest gains during the trading session.

In tandem with the crypto market's upswing, shares of crypto-related companies displayed notable growth. Coinbase (NASDAQ:COIN) Global Inc., Tesla (NASDAQ:TSLA) Inc., NVIDIA Corp (NASDAQ:NVDA)., Riot Platforms Inc., and MicroStrategy Inc. were among those registering substantial increases.

The fund market echoed this positive trend, with Bitwise Crypto Industry Innovators ETF, Amplify Transformational Data Sharing ETF, and Grayscale Bitcoin Trust seeing significant growth as well. The Grayscale Bitcoin Trust, Amplify Transformational Data Sharing ETF, and Bitwise Crypto Industry Innovators ETF all recorded substantial growth during Monday's trading session.

Other crypto-related companies such as Marathon Digital (NASDAQ:MARA) Holdings Inc., Overstock.com (NASDAQ:OSTK) Inc., Block Inc., PayPal Holdings Inc (NASDAQ:PYPL)., Ebang International Holdings Inc., and Advanced Micro Devices (NASDAQ:AMD) Inc. also saw their shares rise on Monday.

This widespread surge in both cryptocurrency values and related stocks indicates a strong day for the broader crypto market, reflecting investor confidence in digital assets.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.