Coinbase Brings Bitcoin to Solana, Spurring High Hopes for DeFi Surge
Coinbase cryptocurrency exchange app on smartphone (Chesnot/Getty Images)
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Coinbase
Coinbase cryptocurrency exchange app on smartphone (Chesnot/Getty Images)
Crypto exchange Coinbase’s shares closed the day 31% higher, leading gains among digital asset-related stocks.
MicroStrategy and Coinbase both added 12%, with bitcoin miners also gaining more than 10% in pre-market trading.
Michael Saylor’s MicroStrategy tops Coinbase as the biggest crypto stock after revealing huge plan to buy more bitcoin (BTC).
The U.S. presidential election is an important short-term catalyst for Coinbase and the wider industry, and could lead to more regulatory clarity, analysts said.
Coinbase CEO Brian Armstrong (Coinbase)
Coinbase logo in Times Square (Robert Nickelsberg/Getty Images)
Coinbase Q3 earnings preview
A notable outperformer was bitcoin miner Bitfarms, which nominated a new board member amid its proxy battle with Riot Platforms.
The crypto exchange’s volume has nearly quadrupled between mid-year and September.