All large cryptocurrencies experienced gains during morning trading on Thursday, showcasing the continued bullish momentum in the market. Solana (SOL) stood out as the top performer, surging 12.95% to reach $48.66.
Cardano (ADA) also saw a significant jump of 8.47%, bringing its price to 39 cents. Polygon (MATIC) followed suit with a solid gain of 7.48% to reach 85 cents.
The two leading cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), posted notable increases as well. Bitcoin surged 6.45% and reached $37,891.80, while Ethereum climbed by 5.43% and settled at $1,990.85.
Polkadot (DOT) and Dogecoin (DOGE) also experienced modest gains. Polkadot rose by 2.93% to $5.24, while Dogecoin climbed by the same percentage, reaching 8 cents.
Additional gains were seen in Uniswap (UNI) and Ripple (XRP). Uniswap saw a rise of 2.03%, reaching $5.29, while Ripple increased by 1.37% to reach 70 cents.
In terms of crypto-related companies, several stocks showed strong performance. Coinbase Global Inc. (COIN) shares jumped 10.89% to $97.94, while MicroStrategy Inc. (MSTR) surged by 11.38% to $528.50. Riot Platforms Inc. (RIOT) also experienced significant gains, with shares rising by 14.69% to $11.79. Additionally, shares of Marathon Digital Holdings Inc. (MARA) increased by 19.18% to $10.19.
While some stocks in the industry were on the rise, others experienced slight declines. Block Inc. (SQ) rose by 1.86% to $53.24, but Tesla Inc. (TSLA) encountered a 2.50% drop, settling at $216.55. PayPal Holdings Inc. (PYPL) saw a modest increase of 0.75% to $55.50, while Ebang International Holdings Inc. (EBON) shares climbed by 8.67%, reaching $7.90. NVIDIA Corp. (NVDA) also experienced growth, rising by 2.54% to $477.55, and Advanced Micro Devices Inc. (AMD) increased by 1.13% to $114.87.
Within the fund space, the Bitwise Crypto Industry Innovators ETF (BITQ), which focuses on pure-play crypto companies, rose impressively by 9.46% to $7.87. The Blockchain-focused Amplify Transformational Data Sharing ETF (BLOK) also experienced a gain of 5.07% to reach $22.95. Moreover, the Grayscale Bitcoin Trust (GBTC), which tracks the Bitcoin market price, increased by 7.14% to $29.78.