This week in markets: bitcoin climbs, Coinbase stock shrugs off Moody's downgrade
Quick Take
- Bitcoin jumped over $23,000 heading into the weekend.
- Crypto prices generally rose in the past week.
The past week has seen crypto prices continue their upward trajectory, with bitcoin rising 16.8% and jumping over the $23,000 mark going into the weekend.
Bitcoin was trading at $23,262 as of 2 p.m. ET. Meanwhile, ether rose 14.3% to around $1,663.
Cryptocurrencies like Binance's BNB, Polygon's MATIC and XRP also rose by 3.7%, 9.2% and 6.8%, respectively.
FTT jumped up this week on the news that FTX's new CEO was considering restarting the exchange. It was trading at around $2.30.
Crypto stocks and structured products
Not all crypto stocks had a positive week. Silvergate, which posted $1 billion losses in its fourth quarter, fell 1.7% over the past five days.
Galaxy Digital also slipped by about 4%.
On the other hand, shares of Coinbase rose by 13.3%, even as it was downgraded by Moody's, and MicroStrategy by 13.1%.
For structured products, GBTC surged 18.1% and ETHE rose 19.2%.
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