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Riot Platforms and Marathon Digital Lead Crypto Stock Gains as Bitcoin Stays Above $30K
The price of bitcoin is now up by more than 80% so far in 2023.
Updated Apr 11, 2023, 8:42 p.m. Published Apr 11, 2023, 5:29 p.m.
Crypto-related stocks are having a second day of big gains after on Monday evening pushed through $30,000 for the first time since June 2022. At press time, it's managed to hold that advance, trading at $30,100.
Bitcoin miners Riot Platforms (RIOT) and Marathon Digital (MARA) are ahead 15% and 11%, respectively. Shares of smaller players Stronghold Digital (SDIG) and Iris Energy (IREN) are up by nearly 20%.
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The big advance in bitcoin over the past two days has pushed MicroStrategy's (MSTR) holdings – 140,000 coins purchased at an average price of $29,803 each – back into profit. MSTR shares are higher by 7% on Tuesday.
Crypto exchange Coinbase (COIN) and Mike Novogratz's crypto merchant bank Galaxy Digital (GLXY.TO) are also each up by about 7%.
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Bitcoin pulled out a tight range around the $28,000 level on Monday afternoon and then pushed through $30,000 for the first time since June 10, 2022 late Monday evening, rising to as high as $30,400. The crypto is now up more than 80% in 2023 after having started the year at about $16,500.
Read more: CoinDesk Market Index Up 58%, BTC Gains Amid Banking Crisis
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Exchange Review - March 2025
CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.
What to know:
Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.
- Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
- Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions.
- Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.
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What to know:
- Ethena's USDe becomes fifth stablecoin to surpass $10 billion market cap in just 609 days, while Tether's dominance continues to slip.
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