Major crypto-related stocks and funds rallied Tuesday as bitcoin climbed 3%, and the Dow Jones Industrial Average
jumped more than 700 points.
The largest cryptocurrency
is trading at around $20,089, according to CoinDesk data. The Dow
rose 2.4% to 30,204, and the S&P 500
gained 2.7% to 3,778, according to FactSet data. The Nasdaq Composite went up 3% to 11,153.
Stock indexes extended the Monday gains amid hopes that global central banks may slow down their interest rate hiking plans.
Shares of mining company Riot Blockchain Inc.
shares added 7.4% to $7.69, and that of Marathon Digital Holdings Inc.
rallied 15% to $12.65. Another miner, Ebang International Holdings Inc.
gained 5% to $0.44.
Advanced Micro Devices Inc.
shares hiked 4% to $68.71.
Grayscale Bitcoin Trust
posted a 4.5% gain to $12.19.