TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
Login
|

Crypto stocks advance pre-market as Bitcoin tops $51K, market cap hits 26-month high

Crypto stocks advance pre-market as Bitcoin tops $51K, market cap hits 26-month high
CoinDesk Analysis TeamCoinDesk Analysis TeamCoinDesk

US-listed crypto companies rose Wednesday as Bitcoin {{BTC}} climbed past $51,000 for the first time since December 2021, taking its market cap to $1 trillion.

Bitcoin, the largest cryptocurrency by market value, added about 2.9% in the last 24 hours, while the CoinDesk 20 Index, a measure of the largest digital assets, rose around 2.1%. Ether {{ETH}}, the second-largest cryptocurrency, gained 3.2% to $2,754, the highest since May 2022, while the total crypto market cap touched $2 trillion for the first time since April that year.

Cryptocurrency exchange Coinbase (COIN) rose more than 7%, and software company MicroStrategy (MSTR), which holds around 190,000 BTC on its balance sheet, gained about 6.5%. BlackRock’s bitcoin exchange-traded fund (IBIT), which has the highest inflows among the new spot BTC ETFs, added around 3%.

Robinhood (HOOD), a trading platform that supports cryptocurrencies, climbed 12% after reporting higher-than-forecast fourth-quarter revenue and saying crypto revenue rose 10% from a year earlier to $43 million.

Iris Energy (IREN) led gains among miners, surging 14%. Marathon Digital (MARA) added 11% and Riot Platforms (RIOT) 8%.

Author

CoinDesk Analysis Team

CoinDesk is the media platform for the next generation of investors exploring how cryptocurrencies and digital assets are contributing to the evolution of the global financial system.

More from CoinDesk Analysis Team
Share:

Editor's Picks

Bitcoin demand turns positive across spot and perpetual markets as price rebounds above $70K

Bitcoin demand turns positive across spot and perpetual markets as price rebounds above $70K

Bitcoin demand has turned positive across both spot and perpetual futures markets for the first time since its October 2025 all-time high, according to CryptoQuant founder Ki Young Ju on Thursday. The shift comes as Bitcoin rebounded past $70,000 over the past 24 hours.

Ethereum: Bulls defend rally above $2,300 despite rising profit-taking

Ethereum: Bulls defend rally above $2,300 despite rising profit-taking

Ethereum continued its rally on Thursday as capital gradually flowed back into the derivatives market after the recent leverage flush. ETH open interest, which is the total worth of outstanding contracts in a derivatives market, has risen by 270K ETH to 13.2M ETH over the past few hours.

XRP extends rally as bullish technical signals underpin breakout attempt

XRP extends rally as bullish technical signals underpin breakout attempt

Ripple holds in bullish hands, as price action extends above $1.16 at the time of writing on Thursday. Since Monday, the cross-border remittance token has surged by more than 20%, reflecting a steady growth in risk-on sentiment. The broader crypto market sentiment is on an upward roll at 62 in the Greed territory on Thursday, up from 46 the previous day, according to the Fear & Greed Index.

Dogecoin bolts toward $0.08 breakout

Dogecoin bolts toward $0.08 breakout

Dogecoin gains momentum for the second consecutive day, trading at $0.078 at the time of writing on Thursday. The meme coin is up more than 3% on the day, reflecting positive market sentiment as Bitcoin rallies above $70,000 and Ethereum climbs above $2,200. The crypto Fear & Greed Index is currently embedded in the Greed territory at 62, up from 46 the day before.

Bitcoin: Hormuz uncertainty clouds BTC outlook

Bitcoin: Hormuz uncertainty clouds BTC outlook

Bitcoin (BTC) trades around $62,900 at the time of writing on Friday, down over 3% so far this week amid cautious institutional demand and persistent geopolitical uncertainty. While BTC shows signs of stabilization, elevated Oil prices and tensions in the Strait of Hormuz continue to weigh on risk sentiment, keeping the Crypto King’s near-term outlook under pressure.