Blockchain stocks are among those moving on Monday following news that a major payment card company is accepting USD Coin (CCC:USDC-USD).
Visa (NYSE:V) is the payment services company behind today’s news. The company says that it is allowing transactions through its network over Ethereum to be settled with USD Coin.
So what exactly does this news have to do with blockchain stocks? It’s all about further legitimizing Bitcoin (CCC:BTC-USD). The adoption of USD Coin by Visa means major players in the payments industry are taking cryptocurrency more seriously.
Bitcoin is also rising higher following today’s news. Even if it doesn’t have a direct connection to USD Coin. With the cryptocurrency heading higher, many blockchain companies are also seeing their stocks rise up as well.
Let’s take a look at how a handful of these companies are performing today.
- Ebang International (NASDAQ:EBON) — EBON stock was down 3.5% as of Monday morning without roughly 5.9 million shares changing hands. Its daily average trading volume is about 21 million shares.
- Riot Blockchain (NASDAQ:RIOT) — RIOT stock is heading 3.2% higher today as more than 7.9 million shares traded. For comparison, the stocks’ daily average trading volume is 31.9 million shares.
- Canaan (NASDAQ:CAN) — CAN stock is rising 9.4% higher on Monday with some 11.4 million shares of the stock having moved. Its daily average trading volume is 19.6 million shares. The company is preparing to release earrings on April 12.
- Marathon Digital (NASDAQ:MARA) –MARA stock finishes up the list with shares up 6.4% and more than 7.4 million changing hands. The stock’s daily average trading volume is about 34.3 million shares.
BTC was up 4.3% as of Monday morning.
Monday is a volatile day for trading with many major stocks seeing massive movement.
There’s lots of news for investors to digest from the stock market today. Luckily InvestorPlace.com can help out with a wealth of coverage. That includes what has Universe Pharmaceuticals (NASDAQ:UPC), Baidu (NASDAQ:BIDU), and Discovery (NASDAQ:DISCA, NASDAQ:DISCK) moving today. Let’s dive into that information below.
More Stocks on the Move
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Article printed from InvestorPlace Media, https://investorplace.com/2021/03/blockchain-stocks-why-ebon-riot-can-and-mara-stocks-are-on-the-move-today/.
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