U.S. crypto stocks experienced a sharp rise on Tuesday following the announcement of a ceasefire between Iran and Israel brokered by President Donald Trump.
Tentative Ceasefire Announced
The ceasefire was declared by Trump on social media late Monday, asserting it would 'go on forever.' However, both nations reportedly exchanged missile fire soon after the agreement took effect.
Leaders Among Crypto Stocks
Coinbase Global Inc. (COIN) emerged as the standout performer, closing the day with a 12.10% gain. Mining companies also saw strong advances, with Riot Platforms rising 8.09%, Marathon Digital 4.94%, and MicroStrategy 2.68%. Robinhood Markets, Inc. (HOOD) also benefited, posting a 7.41% gain.
Mixed Market Reaction
Despite the surge, not all crypto stocks participated in the rally. Circle Internet Group (CRCL) fell 15.49% during the session but remains up nearly 620% since debuting on June 6. Meanwhile, the crypto market held steady, with Bitcoin gaining 1.20%, Ether rising 1.99%, and XRP climbing 1.92%.
While the overall crypto stock market showed gains following the ceasefire announcement, some companies faced mixed results. Nevertheless, investor interest in digital assets remains high.
