Share this article
Marathon Digital, Coinbase Lead Bounce for Crypto-Related Stocks
Modest gains across cryptocurrencies were enough to jump start a rally in the beaten-down shares.
Updated Jan 9, 2023, 9:18 p.m. Published Jan 4, 2023, 9:43 p.m.
After a disastrous 2022 in which 80%-90% declines were the norm, many cryptocurrency-related stocks are in the green early in 2023 after big advances on Wednesday.
The largest gainer among the major names was bitcoin miner Marathon Digital (MARA), which rose 24% today. Among other miners, the rebranded Riot Platforms (RIOT) – which began the year by exorcising the term "blockchain" from its name – was higher by 15%.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Crypto exchange Coinbase (COIN) gained 12.2%, helped by the general rally and by removing a regulatory overhang with an agreement to pay a $50 million fine to the New York Department of Financial Services.
Checking cryptocurrencies themselves, bitcoin (BTC) made a brief run at $17,000 before falling back to the current $16,800, up only a hair for the day. Ether (ETH) gained 3%, Binance coin (BNB) added 4.6%, dogecoin (DOGE) 2.6%, and Cardano's ADA 5.2%.
Read more: Cathie Wood Buys More Coinbase Shares on the Cheap
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin's massive underperformance to stocks in Q4 bodes well for January, says K33's Lunde
After an active morning Tuesday, bitcoin flattened out in afternoon trading around the $87,500 area, up 2% over the past 24 hours.
What to know:
- Bitcoin held in the $87,500 in U.S. afternoon action on Tuesday, up 2% over the past 24 hours.
- K33 analyst Vetle Lunde suggested BTC's relative weakness to stocks this quarter could mean rebalancing-led buying once January rolls around.
Top Stories
