Artificial intelligence (AI) chipmaker Nvidia dominated the market ahead of Memorial Day in the United States in a sign of continued bullish pressure on cryptocurrency stocks, which surged 5.24% to an all-time high last week. Nvidia shares were trading at $1,120.49 as bulls turned bullish on the asset.
In the past few months, this huge rally in assets has repositioned tech stocks, leading to a market revival. Recent Q1 2024 earnings have seen revenues soar to $26 billion, along with other positive factors, sparking a best year ever and a short-term frenzy. AI CoinHere are three cryptocurrency stocks worth keeping an eye on given their recent movements.
Coinbase (COIN)
Digital asset exchange Coinbase recorded inflows over the past 24 hours amid increased market activity. COIN rose 1.87% today, bringing seven-day inflows to over 4%. The largest U.S. cryptocurrency exchange by market cap recorded a bullish performance year-to-date (YTD). coin It's up 54.3% this year after a strong first quarter performance.
The big bullish factor for crypto stocks this year has been the soaring price of Bitcoin, which has pushed the asset to an all-time high of over $73,000 and sparked increased market activity.
Marathon Digital (MARA)
Bitcoin mining company Marathon Digital has joined the cryptocurrency stocks list due to its growing potential. The asset is down slightly by 2% today, despite its favorable short-term performance. MARA is up 14% this month and has grown 67% over the past six months.
Bitcoin miners were analyzing the repositioning of reserves ahead of the halving event, which could see an influx of cash to exchanges shake up the cryptocurrency market.
Bitfarm (BITF)
North American-based bitcoin miner Bitfarms rose 3.5% today after the company rejected a merger offer with the company. Riot PlatformThe latter was seeking the largest merger among publicly listed companies, but was rejected. BITF joined the list of promising crypto stocks with a 17% increase in five-day inflows. Bitfarm has posted losses so far this year, but recent market movements have made it one of the crypto stocks to watch.
Read also: Why the cryptocurrency market fell today
