Pre-Market Crypto Stocks Soar as Bitcoin Breaks $51,000, Market Cap Reaches 26-Month High

On Wednesday, cryptocurrency firms that are listed in the United States went up as the value of bitcoin (BTC) surpassed $51,000 for the first time since December 2021, bringing its market valuation to a total of $1 trillion.

In the past twenty-four hours, Bitcoin, which is the cryptocurrency with the highest market value, has increased by around 2.9%, while the CoinDesk 20 Index, which is a measurement of the largest digital assets, has increased by approximately 2.1%.

Ether, the second-largest cryptocurrency, saw a rise of 3.2%, reaching a new high of $2,754 for the first time since May 2022. At the same time, the overall market capitalization of cryptocurrencies reached $2 trillion for the first time since April of same year.

Coinbase (COIN), a cryptocurrency exchange, had a rise of more than 7%, while MicroStrategy (MSTR), a software business that has over 190,000 BTC on its balance sheet, experienced a gain of approximately 6.5%.

Around three percent was added to the value of the bitcoin exchange-traded fund (IBIT) offered by BlackRock. This fund has the biggest inflows among the new spot BTC ETFs.

After announcing revenue that was greater than expected for the fourth quarter and stating that cryptocurrency revenue increased by 10% from the previous year to $43 million,

Robinhood (HOOD), a trading platform that supports cryptocurrencies, had a 12% increase in its share price.

Iris Energy (IREN) was the most successful among miners, with a 14% increase. Riot Platforms (RIOT) added 8%, while Marathon Digital (MARA) contributed 11% to their total.

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