Coinbase Global (NASDAQ:COIN) +10.5%, Galaxy Digital (OTCPK:BRPHF) +20.7%, Riot Blockchain (NASDAQ:RIOT) +12.8% and Marathon Digital (MARA) +21.5% are jumping the most among its cryptocurrency-focused peers in Monday afternoon trading, as bitcoin (BTC-USD) +4.4% takes the spotlight in what some are calling the beginning of an extended relief rally.
The bullish swings come even as stocks more broadly give up earlier gains in another volatile session, with the Dow Jones (DJI) -0.3%, S&P 500 (SP500) -0.5% and Nasdaq (COMP.IND) -0.5% as of shortly before 3:30 p.m. ET. Keep in mind that stocks and cryptos have shared a close relationship over the past year, but that correlation has dwindled in recent weeks.
The world's largest digital token by market cap is rising to $21.85K, down slightly from its intraday high of $22.65K. Similarly, ethereum (ETH-USD) +10.4% is perking up to $1.47K, down from its session peak of $1.52K.
More crypto-related stocks: SOS (SOS) +12.1%, HIVE Blockchain (HIVE) +4.8%, BIT Mining (BTCM) +4.5%, Hut 8 Mining (HUT) +11.2%, Bitfarms (BITF) +4.4%, Silvergate Capital (SI) +5.4%, Greenidge Generation (GREE) +7.3% and Bakkt (BKKT) +3.3%.
Previously, (July 16) crypto winter forced Riot Blockchain, Core Scientific, Bitfarms to sell some bitcoin.