Coinbase (COIN) bounces 10%, Solana, LINK, SUI outperform as bitcoin (BTC) holds $80K
Coinbase stock surged 10% as altcoins like Solana and Chainlink outperformed, with Bitcoin holding above $80,000.Summary
Coinbase (COIN) shares rebounded by 10% as altcoins, including Solana (SOL), Chainlink (LINK), and SUI, saw significant gains, outperforming Bitcoin which maintained its position above $80,000. This surge in crypto markets coincided with a strong performance in equities, with the Nasdaq and S&P 500 reaching new record highs. Positive U.S. labor market data, showing more jobs added than expected and a steady unemployment rate, further bolstered market sentiment. Despite Coinbase reporting a quarterly loss, analysts focused on long-term growth drivers like stablecoins and crypto regulation. SEC Chair Paul Atkins' comments signaling potential new rules for onchain trading, custody, and settlement systems, alongside support for crypto market structure legislation, boosted investor confidence in tokenization and blockchain infrastructure, benefiting related stocks like Bullish, BitGo, and Cantor Equity Partners.
(Source：CoinDesk)