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Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

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Bitcoin rally continues and pushes a number of stocks to rise

July, 20 2022
watermark Economic news

Yesterday's sharp rally of bitcoin continues today. The current BTC quote is $23982, although recently a local minimum was recorded in the region of $ 20 thousand. The growth of the most popular cryptocurrency has had a bullish effect on some stocks related to the digital currency market. 


The most impressive growth was demonstrated by the shares of Applied Blockchain Inc. – securities rose by 100% during yesterday's afternoon session and are expected to continue their growth today. On the premarket, the shares rose by almost 13%. 


Additional support for the securities of the cryptomining hosting provider was provided by the announcement of a partnership with Marathon Digital. Thanks to this collaboration, Applied, which went public only last year, also signed a new 5-year agreement to allocate about 200 megawatts (MW) to Marathon, one of the largest bitcoin mining companies. 


On this news, the shares of Marathon Digital Holdings Inc jumped by 32.17% during yesterday's session and are currently up more than 4% in the premarket.



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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.