Key Takeaways

Since the beginning of September, Bitcoin has rallied by nearly 7%. The bullish macroeconomic news on Thursday spurred Bitcoin and major altcoins such as Ethereum and Solana, while assisting crypto stocks as well.

Many crypto stocks saw sizeable gains on Thursday, 11 September. In fact, crypto-related stocks such as Galaxy Digital (GLXY), Circle Internet (CRCL), and Bitfarms (BITF) noted double-digit percentage gains on the day.

Why are individual stocks up?

These gains came after Bitcoin [BTC] rose to $115.5k – A level it last traded at in the final week of August. Galaxy Digital added 10.7% by the end of the day’s trading after withdrawing 920k Solana [SOL] worth $205 million from Binance.

The firm is also in the news now after leading Forward Industries’ $1.65 billion Solana treasury raise. This could be a sign of greater institutional investment. As expected, SOL responded bullishly on the price charts, with its move past $230 reinforcing its short-term market confidence.

Bitfarms might be benefiting from the data center plays that are favored on Wall Street recently. Bitfarms is seeking to expand in high-end computing, appointing former executive at Amazon Web Services Wayne Duso to its b

Go to Source to See Full Article
Author: Akashnath S