US crypto-related stocks recorded strong gains of an Medium of 10% to 20% on Monday just days after the Bitcoin Halving.
The five largest publicly traded Bitcoin mining companies by market Capital : Marathon Digital (MARA), CleanSpark (CLSK), Riot Platforms (RIOT) Cipher Mining (CIFR) and Hut 8 (HUT) all increased in price in trading day on April 22 and has continued to post gains in after-hours trading.
Stronghold Digital Mining (SDIG) was the strongest gainer of the day with an increase of 35.3% to 3.64 USD, increasing another 4% after closing the session to 3.80 USD.
Riot followed with a gain of more than 23% to $11.24, rising another 3.2% after closing the session to $11.60.
.png)
Overall, US crypto miners saw a daily price increase starting Friday, April 19.
Valkyrie Bitcoin Miners ETF (WGMI) which holds mining stocks and several chipmakers including Nvidia (NVDA) posted an 11% gain, closing up another 3% to $16.69.
Cryptocurrency-related stock prices soared even though Miners ' Bitcoin mining rewards were halved to 3,125 BTC per block.
This movement coincided with an overall increase in the US market when the Nasdaq Composite and S&P 500 recorded gains of 1.1% and 0.8%, respectively, after a chain of losses last week. The reason may be because tensions in the Middle East have eased.
However, CIBC Private Wealth chief investment officer David Donabedian attributed the market decline to high inflation rates, rising bond yields and speculation about expected interest rate cuts by the Reserve Federal. He added nearly half of the largest U.S. companies will Chia their first-quarter earnings this week, which could also add to market volatility.
.png)
Bitcoin price has increased 4.5% to $67,810 since the halving completed. Meanwhile, cryptocurrency exchange Coinbase shares rose 7% to $225.86 with a slight 0.8% gain after the close as did software company MicroStrategy (MSTR) – which saw an increase of 12.7% in the daily frame and an additional 2.5% after the end of the session to 1,357 USD.
VIC Crypto compiled
Related news:
The completion of Bitcoin Halving led to a spike in transaction fees
How much will Bitcoin cost in the next Halving in 2028?
Runes Protocol will help Bitcoin DeFi close the gap with Ethereum and Solana
What are Runes on Bitcoin? The new fungible Token protocol was born by the father of Ordinals
