Key Highlights
- The broader crypto market gained approximately 2%, supporting gains across companies with exposure to digital assets and crypto-related activity.
- Bitcoin traded at $80,281.31, up 3.6% over 24 hours, while Ethereum gained 4.1% to $2,558.58.
- American Bitcoin (ABTC) rose 11.66% to $9.86 on Friday.
Crypto-related equities recorded gains on Friday as major digital assets posted broad advances, with the broader crypto market advancing approximately 2%. Bitcoin (BTC) climbed above $80,000, and Ethereum posted over 4% gains on the same trading day.
According to the Yahoo Finance data (on September 18, at 2:00 pm UTC), crypto stocks including American Bitcoin Corp (ABTC), Circle Internet Group (CRCL), Bitmine Immersion Technologies, Inc. (BMNR), Coinbase Global, Inc. (COIN), Strategy Inc. (MSTR), and Robinhood Markets, Inc. (HOOD) advanced ranging from 4.84% to 11.66%.
American Bitcoin advances 11.66%
According to data from Yahoo Finance (on September 18 at 2:00 pm UTC), American Bitcoin Corp (ABTC) traded at $9.86, up $1.03, or 11.66%, from the previous close of $8.83. The session opened at $9.21. The day’s range extended from $9.20 to $9.91. Intraday market capitalization stood at $1.211 billion.
Volume reached 643,863 shares, compared with an average volume of 1,670,374, and the 52-week range was listed as $4.92 to $12.50.
Strategy rises 9.26% after Bitcoin rebound
According to data from Yahoo Finance (on September 18 at 2:00 pm UTC), Strategy Inc (MSTR) traded at $144.49, up $12.24 or 9.26% from the previous close of $132.25. Strategy Inc. holds a significant portion of bitcoin on its balance sheet, and movement in the asset impacts the stock price. The stock opened at $136.58. The day’s range ran from $136.43 to $145.28. Intraday market capitalization was $57.375 billion.
Volume totaled 9,438,910 shares against an average of 23,268,950, with the 52-week range standing at $81.81 to $365.21.
Coinbase gains 6.51% after U.S. filing
According to data from Yahoo Finance (on September 18 at 2:00 pm UTC), Coinbase Global, Inc. (COIN) traded at $185.30, an increase of $11.33 or 6.51% from the previous close of $173.97. The session opened at $178.15, and the day’s range extended from $177.67 to $186.46.
Intraday market capitalization reached $48.819 billion. Volume was 3,682,074 shares, compared with an average of 8,773,688. The 52-week range spanned $139.11 to $402.16.
Coinbase’s rally follows the submission of a filing to U.S. regulators seeking approval to offer perpetual futures contracts linked to individual U.S. stocks, thereby broadening its domestic derivatives offerings past cryptocurrencies and equity indexes.
Bitmine climbs 6.49% as Ethereum gains over 4%
According to data from Yahoo Finance (on September 18 at 2:00 pm UTC), Bitmine Immersion Technologies, Inc. (BMNR) traded at $25.44, a gain of $1.55 or 6.49% from the previous close of $23.89. The stock opened at $24.83. The day’s range ran from $24.76 to $25.71, and the intraday market capitalization was $15.274 billion.
Volume totaled 11,240,803 shares against an average of 39,213,119, with the 52-week range between $12.80 and $65.60. Bitmine operates as an Ethereum treasury company, linking its share performance to movements in Ethereum prices. On the same trading day, Ethereum surged over 4% and surged past $2,500, trading at $2,558, according to data from CoinGecko (on September 18 at 2:00 pm UTC).
Circle shares advance 6.07%
According to data from Yahoo Finance (on September 18 at 2:00 pm UTC), Circle Internet Group (CRCL) traded at $90.25, up $5.17 or 6.07% from the previous close of $85.09. The session opened at $87.40, and the day’s range extended from $87.02 to $91.09. Intraday market capitalization stood at $24.628 billion.
Volume reached 4,525,638 shares, compared with an average volume of 14,273,154, and the 52-week range was listed as $49.90 to $159.47.
Robinhood posts 4.84% gain
According to data from Yahoo Finance (on September 18 at 2:00 pm UTC), Robinhood Markets, Inc. (HOOD) traded at $115.13, up $5.32 or 4.84% from the previous close of $109.81. The stock opened at $113.52. The day’s range ran from $111.06 to $115.92. Intraday market capitalization was $103.566 billion.
Volume totaled 8,494,142 shares against an average of 22,405,362, with the 52-week range standing at $63.51 to $153.86.
Crypto market surge provides support for stock performance
The stock gains came as the broader cryptocurrency market advanced approximately 2% on September 18. Bitcoin traded at $80,281.31, up 3.6% over 24 hours and above the $80,000 level, according to data from CoinGecko (on September 18 at 2:00 pm UTC). Ethereum traded at $2,558.58, up 4.1%, according to data from CoinGecko (on September 18 at 2:00 pm UTC).
The crypto surge follows several industry developments. Bitcoin crossed $80,000, contributing to higher valuations for crypto-exposed companies. Although the CLARITY Act did not advance in the Senate, the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) signaled continued work on establishing rules for digital assets, according to the statement released by Former CFTC Chair J. Christopher Giancarlo.
Coinbase has indicated it is utilizing existing regulatory pathways. The SEC also cleared a temporary pathway for trading tokenized stocks. Easing inflation concerns and retreating oil prices provided a calmer macroeconomic setting after the Federal Reserve’s recent interest-rate decision.
Crypto-related equities can respond to changes in Bitcoin and Ethereum prices, trading activity, company-specific factors, and broader market conditions.
Also Read: Uniswap (UNI) Jumps 28% as SEC Opens Tokenized Stocks to AMMs
