PANews reported on October 2 that according to Binance, cryptocurrency stocks rose as Bitcoin hit a new high in more than a week. Riot's stock price rose 4.3%, HUT 8 Mining rose 5%, MARA Holdings rose 5.8%, Coinbase Global's stock price rose 5.1%, and Strategy's stock price rose 5.6%.
Coinbase shares rose 5.1%, Strategy shares rose 5.6%
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Coinbase earned a net profit of $700 million in Q3, with nearly 90% of the profit coming from rising coin prices.
When Bitcoin's price is stuck in a range, the market will take a more sober view of Coinbase's profitability and risk resilience as a company.