Crypto Stocks Rally on Ceasefire News and Bullish Market Sentiment
US-based crypto stocks witnessed a strong surge on Tuesday, riding the wave of optimism following a fragile ceasefire agreement between Iran and Israel, brokered by US President Donald Trump. While geopolitical tensions remain, the temporary de-escalation helped boost investor sentiment across global markets — especially in crypto-linked equities.
Coinbase Leads the Rally
The biggest gainer was Coinbase Global Inc. (COIN), which soared 12.10%, becoming the top-performing S&P 500 stock for the day. The rally comes amid a broader upswing in interest for digital asset investments, coupled with speculation over ETF approvals and rising crypto prices.
Other notable winners included:
- Riot Platforms (RIOT): up 8.09%
- Marathon Digital (MARA): up 4.94%
- MicroStrategy (MSTR): up 2.68%
- Robinhood Markets (HOOD): up 7.41%, benefiting from a new 1% crypto deposit match promotion that launched Tuesday
The S&P 500 index itself climbed 1.11%, showing strong alignment between traditional and crypto-related stocks.
Not All Stocks Benefited
While most crypto firms enjoyed gains, Circle Internet Group (CRCL) — the stablecoin issuer behind USDC — dropped 15.49% on the day. Despite the pullback, CRCL remains up over 620% since its IPO at $31 on June 6, reflecting longer-term bullish sentiment.
Crypto Market Holds Steady
Meanwhile, the broader crypto market stayed resilient:
- Bitcoin (BTC) climbed 1.20% to $106,487
- Ethereum (ETH) gained 1.99%, trading at $2,453
- XRP advanced 1.92%, reaching $2.18
The market seems to be stabilizing after recent volatility, and investor appetite for crypto assets remains firm as regulatory clarity improves and institutional interest builds.
IPO Momentum Builds in the Sector
In light of surging valuations and renewed investor interest, crypto exchange OKX is reportedly eyeing a US public listing following its recent relaunch in the country. This reflects a broader trend of crypto firms exploring IPO opportunities amid favorable market conditions and growing mainstream adoption.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.