3 Crypto Stocks To Watch Out As Nvidia’s Rise Continues
Artificial Intelligence (AI) chip maker Nvidia dominated the market ahead of the United States Memorial Day with signs of continued bullish pressure trickling into crypto stocks. The asset has soared 5.24% adding to its all-time high mark last week. Nvidia’s stock price stands at $1,120.49 as bulls go bullish on the asset.
In the last few months, the massive rise of the asset has reshaped tech stocks leading to a resurgence in the market. The recent Q1 2024 earnings which saw revenues soar to $26 billion amid other positives triggered an all-time year and a short frenzy in AI coins. Here are the three crypto stocks to watch out for following recent developments.
Coinbase (COIN)
Digital asset exchange Coinbase has recorded inflows in the last 24 hours as market activities surge. COIN is up 1.87% today with seven-day inflows above 4%. The largest cryptocurrency exchange in the United States by market capitalization has notched a bullish performance year-to-date (YTD). COIN has moved up 54.3% this year after a positive Q1 result.
A major bullish factor for crypto stocks this year is the price jump in Bitcoin. The asset soared to an all-time high above $73,000 triggering increased market activities.
Marathon Digital (MARA)
Bitcoin mining firm, Marathon Digital joins crypto stocks with increased potential. The asset saw a slight decline of 2% today although its short-term performance stands in the green zone. MARA is up 14% this month and posted a 67% growth in the last six months.
Bitcoin miners were in the middle of analysis before the halving event as they repositioned reserves swinging the crypto market with inflows to exchanges.
Bitfarm (BITF)
North American-based Bitcoin miner Bitfarms is up 3.5% today after it rejected a merger with Riot Platforms. The latter was looking to create the largest publicly listed merger but was turned down. BITF joins crypto stocks with prospects as its 5-day inflow moved up 17%. Bitfarms has seen YTD losses but recent market performance places it among watched crypto stocks.
Also Read: Reasons Why The Crypto Market Declined Today
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