VYGVF - Why did Coinbase stock shoot up today? In talks to buy Brazil's 2TM broad crypto rally
Shares of cryptocurrency exchange Coinbase (NASDAQ:COIN) +7.8% jumped Monday following a report that it's in talks to buy 2TM, the owner of Mercado Bitcoin, Brazil's largest digital asset exchange. COIN's upswing also comes at bitcoin (BTC-USD) erases year-to-date losses, breaking out of $48K per token. A large basket of cryptos are also extending gains from last week, such as ethereum (ETH-USD +5.3%), binance coin (BNB-USD +3.5%), cardano (ADA-USD +5.7%), solana (SOL-USD +6.3%) and many more. In turn, the global crypto market cap continues to rise, recently standing at $2.16T. Some of the exchange's rivals gapped up Monday as well, including Voyager Digital (OTCQX:VYGVF) +10.4%, Net Savings Link (OTCPK:NSAV) +7.7%, BIGG Digital Assets (OTCQX:BBKCF) +6.6% and Robinhood Markets (HOOD) +3.3%. On Friday, Coinbase expanded its staking offerings to include Cardano.
For further details see:
Why did Coinbase stock shoot up today? In talks to buy Brazil's 2TM, broad crypto rally