Why Are MSTR, COIN and Other Crypto Stocks Surging Today?

MSTR, COIN, and other crypto stocks are rising today amid growing positive sentiment in the crypto market. Circle (CRCL) and Coinbase stocks led gains as investors reacted to the latest clarity from the US SEC and CFTC on classifying BTC, ETH, XRP, SOL, ADA, and others as digital commodities.

MSTR Stock Price Jumps amid Bitcoin Recovery

Bitcoin is trading around $74,000 and showing strength after recent volatility. BTC climbed more than 13% from lower levels in early March, triggering an almost 20% rebound in MSTR stock.

MSTR stock price closed 1.87% higher at $150.28 on Tuesday, expanding the weekly recovery to more than 12%. The intraday low and high were $145.23 and $152.27, respectively. The stock recorded 19 million in trading volume, slightly lower than the average volume of 22 million ahead of the March FOMC Meeting.

The latest upward momentum amid the ongoing bear market comes as the US SEC and CFTC released crypto guidance, classifying Bitcoin, Ethereum, XRP, Solana, Cardano, Dogecoin, and other crypto tokens as digital commodities.

The 68-page guidance divides crypto assets into five categories, reducing regulatory uncertainty and boosting clarity in the crypto industry. As a result, the Crypto Fear & Greed Index improves to 26 (fear) today, signaling a further crypto market recovery.

As CoinGape reported earlier, Wall Street analysts remain bullish on MSTR stock, with an average 12-month price target of $297. Recently, B. Riley Securities initiated coverage with a “buy” rating and $175 price target.

Also, BTIG reiterated a buy rating with a $250 price target for MSTR stock, while Benchmark’s Mark Palmer holds at $705 based on projected Bitcoin holdings by end-2026.

COIN Stock Surges Over 3%

COIN stock price surged 3.40% to $210.23, with 0.70% jump during premarket trading on Wednesday. Coinbase stock climbed as Bitcoin, Ethereum, and altcoins trading are increasing amid market rebound, supporting transaction-based revenues.

Recent developments, such as Coinbase expanding its x402 payments protocol to let AI agents pay with any ERC-20 token, fueled positive momentum. Also, Sam Altman-backed World added an identity toolkit for AI bots on Coinbase’s x402 protocol to verify humans behind AI agents.

Analysts hold mixed forecasts on COIN stock, with an average 12-month price target of $260. Recently, Cantor Fitzgerald gave a buy rating and a $221 price target.

Broader Crypto Stocks Witness Upside Momentum

Crypto stocks such as Circle (CRCL), Robinhood (HOOD) and Sharplink (SBET) also saw notable gains. However, the crypto market participants are bracing for volatility ahead of the Fed rate decision today.

CRCL, HOOD, Bitmine (BMNR), and crypto mining stocks are rising almost 1% during the premarket trading hours on Wednesday. Google Finance indicates CRCL stock is jumping 1.01% in premarket trading today, following a 5.15% surge the day before.