Marathon Digital Holdings Inc. (MARA) saw a significant increase of more than 11% early Monday afternoon, reflecting the sharp rise in crypto stocks that mirrored Bitcoin’s (BTC) gains.

After facing bearish pressure from miner and government wallets selling, the Bitcoin price surged above $63,000 on July 1. Although it later dipped below this level, the positive sentiment also boosted altcoins and subsequently influenced the crypto stocks market.

BTC was trading at around $63,182 at the time of writing, marking a 2.8% increase over the past 24 hours. Analysts predict Bitcoin could be headed for a bounce this July.

MARA and COIN Stocks Surge

At 12:30 pm ET on July 1, market data indicated that Marathon Digital’s shares were up 11% to $22.01. The stock had risen above $20 last week after the Bitcoin miner announced it was mining Kaspa (KAS). Today’s gains put the stock on track to reach the highs seen in May and March this year, which also coincided with notable moves for BTC, peaking at over $73,000 in March.

As MARA stock surged, Coinbase Global, Inc. (COIN) shares also rose, trading above $230. At the time of writing, the crypto stock was up 4%, driven by news related to Coinbase Prime.

On July 1, the U.S. Marshals Service announced Coinbase Prime as its custody and advanced trading services provider for digital assets.

COIN is up 47% year-to-date, slightly outperforming Bitcoin’s 43% price gains over the same period.

RIOT Stock Up but Continues to Underperform BTC

Riot Platforms, Inc. (RIOT) recorded a 5% spike on the day, having recovered from recent sell-off pressure. On June 13, RIOT traded at $10.98 but saw its shares plunge to lows of $9.03 amid its efforts to take over rival Bitfarms.

Riot shares have declined 37% year-to-date, underperforming both Bitcoin and the S&P 500, which is up more than 15% as of 12:30 pm ET on Monday. Bitfarms stock was also slightly in the red.

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