Shares of Coinbase closed up 9% on Monday as cryptocurrencies like bitcoin and ether began the week rallying. Bitcoin was trading at $22,269, up around 6%, according to Coinbase data. Ethereum also jumped unevenly 10%, trading at $1,478.
Tech stocks have been performing very well since Monday morning, moving up more than 1%, according to Nasdaq\u2019s technology sector index, as investors bet that the Federal Reserve will be less aggressive against inflation than feared.
Ethereum comprises roughly 30% of Coinbase\u2019s trading volume, while Bitcoin amounts to about 21%. Tech stocks are largely in the green territory on Monday. That may give Coinbase shares some extra momentum. The company\u2019s stock is down 76% for the year and is off about 83% from its 52-week high on Nov. 9, 2021.
Coinbase\u2019s surge comes came after an internal email from the company last month said the company is laying off 18% of its employees.<\/p>\n","protected":false},"excerpt":{"rendered":"
Shares of Coinbase closed up 9% on Monday as cryptocurrencies like bitcoin and ether began the week rallying. Bitcoin was trading at $22,269, up around 6%, according to Coinbase data. Ethereum also jumped unevenly 10%, trading at $1,478.Tech stocks have been performing very well since Monday morning, moving up more than 1%, according to Nasdaq\u2019s …<\/p>\n","protected":false},"author":13,"featured_media":68662,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[40,36],"tags":[6904,7344,6905,6885],"class_list":["post-68656","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-cryptocurrencies","category-market-updates","tag-bitcoin","tag-coinbase","tag-ethereum","tag-fed"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/68656","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=68656"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/68656\/revisions"}],"predecessor-version":[{"id":68663,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/68656\/revisions\/68663"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/68662"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=68656"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=68656"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=68656"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}