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Why Bitcoin- And Ethereum-Related Stocks Are Rising

Cryptocurrency-related stocks, including Marathon Digital Holdings Inc (NASDAQ:MARA), Riot Blockchain Inc (NASDAQ:RIOT) and Coinbase Global Inc (NASDAQ:COIN), are trading higher Tuesday amid a rise in the price of Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH).

Bitcoin and Ethereum fell sharply lower over the weekend amid increasing concerns about the COVID-19 omicron variant. Crypto seems to be recovering today with overall markets as some omicron variant concerns ease.

See Also: Why This CEO Thinks The US Government Is Already Mining Bitcoin

Marathon Digital is focused on mining digital assets. It owns cryptocurrency mining machines and a data center to mine the digital assets. The stock was up 8.51% at $45.37 at publication time.

Riot Blockchain is focused on building, supporting and operating blockchain technologies. The stock was up 5.97% at $29.84 at publication time.

Coinbase is a provider of end-to-end financial infrastructure and technology for the crypto-economy. The stock was up 7.79% at $284.12 at publication time.

BTC, ETH Price Action: At publication time, Bitcoin was up 4.86% at $51,465 over a 24-hour period and Ethereum was up 5.54% at $4,359.84 over a 24-hour period.

Photo: kevin92 from Pixabay.

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