Crypto stocks cool by market close but stay in the green

Most crypto stocks, with the exception of MicroStrategy, cooled down a bit as trading continued into the afternoon


Pan Xunbin/Shutterstock modified by Blockworks


Following a red hot morning of trading on Tuesday, some US crypto stocks lost some of their earlier gains throughout the afternoon. 

Coinbase for instance, which bounced as high as 14% Tuesday, settled at just over $82 a share. Even so, this still represents a more than 6% increase on the day.

The catalyst for all these stock jumps, bitcoin (BTC) itself, dipped from its $35,000 peak on early Tuesday morning to around $33,800 at the time of writing.

Mining companies, the firms with the most to lose and the most to gain on the back of the digital asset, retreated along with bitcoin but stayed in the green. 

Read more: Trading firms scrambling amid bitcoin price surge

One miner that climbed as much as 20% on Tuesday — Marathon Digital — closed over 11% up. CleanSpark performed similarly to Marathon, ending the day with a resounding 10.46% surge. 

Argo Blockchain had the most consistent and strongest price growth of the day, rising over 26% by around 4 pm ET. 

Single digit gainers included Bitdeer, Hut 8, Hive Digital Technologies, Bitfarms and TeraWulf.

Core Scientific was the outlier among mining companies, as their stock had a much smaller response to bitcoin surging past $34,000.

Of course, Core Scientific has still yet to emerge from bankruptcy, with a disclosure statement hearing scheduled for Nov. 14, 2023. 

MicroStrategy, though, stayed strong. By the stock market close, the top US corporate holder of bitcoin was in the green by over 12%.

It still remains to be seen whether this bitcoin surge is the start of an era dominated by bullishness or simply a blip caused by frenzied speculation on social media about a spot bitcoin ETF.

Don’t miss the next big story – join our free daily newsletter.


Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

Mon - Wed, March 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience: Attend expert-led panel discussions and fireside chats Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts.

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Top Icon.png


Osmosis thrived in H2 2023 on the back of increased DeFi activity deriving from recently launched Cosmos-related projects and better market conditions. With new value accrual mechanisms for the native token, Osmosis is well-positioned to continue its strong performance in 2024.



Though the opposing flow trend is likely to slow over time, industry watchers note, bitcoin fund assets could one day eclipse the $90 billion gold ETF space


Celestia had the first mover advantage. EigenDA has staked ether. What sets Avail apart?


Bitcoin moved 1% higher Monday morning in New York, Matrixport analysts say $62,000 could happen next month


It’s hard to believe right now that crypto — even with all of its flexibility and massive capabilities — could ever be like cash on the internet


Michael Saylor announced Monday morning that MicroStrategy bought 3k more bitcoin after the X account was compromised over the weekend


Plus, Pudgy Penguins grows its brand and a group of Autoglyphs sell for $14.5 million