On Friday, Coinbase’s stock COIN hit a fresh peak of $444 per share, topping its previous record from the company’s 2021 initial public offering (IPO). At the same time, several other crypto-related stocks had a mixed run, echoing bitcoin’s own uneven momentum as the weekend approached.
COIN Climbs, MSTR Dips, Miners Dance—A Chaotic Friday Close for Crypto Stocks
WRITTEN BY
SHARE
Crypto Stocks See Fireworks as Coinbase Smashes Past 2021 IPO Levels
After flirting with the $4 trillion mark on Friday, the crypto economy eased slightly, settling at $3.81 trillion by 5 p.m.—a dip of 0.71% over the past 24 hours. Bitcoin (BTC) also slipped nearly 2%, just clinging to the $17,000 level. When the stock market closed today, shares of companies closely tied to the crypto sector had a scattered showing of gains and losses.
On the stronger side of the market, Coinbase’s stock COIN climbed to a record high of $444 per share, based on data from tradingview.com. Although it closed the day below that peak at $419.78, it still gained 2.2% during Friday’s session. Over the past five days, COIN has increased by 7.58%, and it’s now trading more than 65% higher than it was a month ago. Strategy’s MSTR didn’t match COIN’s performance on Friday, sliding 6.2% after recently hitting a record high earlier in the week.
MSTR stock is down 1.7% over the past seven days, though it’s still up nearly 14% over the last month. As of 4:30 p.m., Strategy’s shares closed at $423.22. Circle’s CRCL also lost ground Friday, dropping 4.81%, but it’s up 46% for the month. Over the past five trading sessions, CRCL has climbed 9.6%, finishing the day at $223.78. Bitcoin mining stocks have had a mixed but lively week.
Galaxy Digital (GLXY) stole the spotlight, climbing 3.94% today and racking up a whopping 26.23% gain over five days. Applied Digital (APLD) wasn’t far behind, jumping an eye-catching 9.35% on the day with a 25.38% boost for the week. Riot Platforms (RIOT) also had a strong showing, rising 3.98% today and gaining 10.79% over five days.
Meanwhile, Cipher Mining (CIFR) ticked up a modest 5.56% on the week despite slipping 0.93% today. IREN Limited (IREN) and Cleanspark (CLSK) notched mild weekly gains—3.78% and 1.38% respectively—but both ended today in the red. Bitdeer (BTDR) and MARA Holdings (MARA) edged up just over 1% this week, although both dipped slightly today.
Core Scientific (CORZ) and Hut 8 (HUT) were the laggards of the bunch, with CORZ down 1.54% on the week and HUT slipping 2.26% both today and over five days. All in all, a mostly green week with a few bruises. Despite bitcoin’s mild retreat heading into the weekend, pockets of strength in crypto equities suggest investors remain optimistic. Crypto related stocks are marching to their own rhythm, with investors rotating between sectors as bitcoin hovers near key psychological levels.
