MARA Holdings (MARA) stock is soaring 5.20% in pre-market trading on Friday, outpacing earlier estimates as Bitcoin's price surge ignites a rally in crypto-related stocks. The jump comes as Bitcoin climbed over 3% to reach $82,072, creating a ripple effect across the cryptocurrency sector.
The broader crypto market is showing strong momentum, with several crypto stocks gaining in pre-market trading. While initial reports suggested MARA Holdings was up 3%, the stock has since extended its gains, reflecting the intensifying positive sentiment in the crypto space. Other notable gainers include TeraWulf, up 5%, and Canaan, rising 4%.
This upward movement in MARA Holdings and other crypto stocks underscores the close correlation between Bitcoin's performance and crypto-related equities. As Bitcoin continues to trade near all-time highs, investors appear to be betting on increased profitability and growth potential for companies operating in the cryptocurrency mining and blockchain technology sectors. However, investors should remain cautious, as the crypto market is known for its volatility, and prices can fluctuate rapidly based on various factors including regulatory news, market sentiment, and technological developments.
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