MicroStrategy stock hits a new all-time high after 24 years. (Photo by Michael M. Santiago/Getty Images)
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Key Takeaways
MicroStrategy leads the charge, surging 23% to an all-time high.
Coinbase followed suit, with the crypto exchange posting a 20% gain.
Crypto mining stocks also rallied.
In a remarkable display of market enthusiasm, crypto stocks surged to new heights on Tuesday, Nov. 11, with MicroStrategy (MSTR), Coinbase (COIN), and other industry leaders posting double-digit gains and all-time highs.
The historic milestone comes on the heels of Bitcoin’s own record-breaking run, with BTC posting nine consecutive all-time highs in a single day, ultimately closing at a new high of $89,660.
The exchange’s shares surged over 20% for the day, with its app store ranking jumping 50 places to 28, a sign of retail investor enthusiasm.
COIN stock performance. Source: Google.
Robinhood (HOOD) saw its stock price surge over 8% to touch a new yearly high of $32.80.
Crypto mining stocks were also big winners, with Riot Platforms Inc. (RIOT) posting a 17% daily surge to reach a new six-month high and HUT8 Mining Group (HUT) recording a 25.8% surge to close the day on a new yearly high.
Bitfarms Ltd. (BITF) registered 17% in gains, reaching a new multi-month high of $3.67, while MARA Holdings (MARA) added 30% to its stock value to record a new multi-month high of $25.
As the crypto market continues to break out into new territory, with no key resistance in sight, the rally is likely to continue in the coming weeks and months.
With institutional and retail investors alike driving the market higher, the crypto space, including crypto stocks, is seemingly poised for a prolonged period of euphoria.
Prashant Jha is a seasoned crypto journalist based in Delhi, India, with a Bachelor’s Degree in Computer Science Engineering. Passionate about the evolving world of blockchain and cryptocurrencies, he has been a dedicated voice in the industry since 2018. Prashant’s expertise lies in regulatory reporting, where he unravels complex legal and financial developments with clarity and precision. Before joining CCN in 2024, he honed his craft at Cointelegraph, establishing himself as a trusted name in crypto journalism.
His coverage spans major industry events, including the high-profile collapses of FTX, Three Arrows Capital (3AC), and LUNA, offering readers insightful analyses of their regulatory and market implications. Prashant’s technical background enables him to bridge the gap between intricate blockchain technology and its real-world applications, making his work accessible to novices and experts.
Beyond his professional pursuits, Prashant is an avid music enthusiast, often exploring diverse genres to unwind. A sports lover, he has a particular passion for cricket and frequently engages in discussions about the game. His multifaceted interests and sharp journalistic instincts make him a valuable contributor to CCN, where he continues shaping the crypto landscape's narrative.
