The past week has seen crypto prices continue their upward trajectory, with bitcoin rising 16.8% and jumping over the $23,000 mark going into the weekend.
Bitcoin was trading at $23,262 as of 2 p.m. ET. Meanwhile, ether rose 14.3% to around $1,663.
Cryptocurrencies like Binance’s BNB, Polygon’s MATIC and XRP also rose by 3.7%, 9.2% and 6.8%, respectively.
FTT jumped up this week on the news that FTX’s new CEO was considering restarting the exchange. It was trading at around $2.30.
Crypto stocks and structured products
Not all crypto stocks had a positive week. Silvergate, which posted $1 billion losses in its fourth quarter, fell 1.7% over the past five days.
Galaxy Digital also slipped by about 4%.
On the other hand, shares of Coinbase rose by 13.3%, even as it was downgraded by Moody’s, and MicroStrategy by 13.1%.
For structured products, GBTC surged 18.1% and ETHE rose 19.2%.
© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Source: https://www.theblock.co/post/204428/this-week-in-markets-bitcoin-climbs-coinbase-stock-shrugs-off-moodys-downgrade?utm_source=rss&utm_medium=rss