🌍 Ceasefire Sparks Market Rally
A shaky ceasefire between Iran and Israel, brokered by U.S. President Donald Trump, triggered a market-wide rally on Tuesday, with crypto stocks leading the charge.
Although Trump declared the truce would “go on forever,” missile strikes were reported from both sides shortly after the agreement went into effect.
“They don’t know what the f*** they’re doing,” Trump told reporters, referring to both nations.
💥 Coinbase Leads Crypto Stock Surge
Crypto exchange Coinbase (COIN) emerged as the best-performing stock on the S&P 500, surging 12.10% on the day. Other crypto-related stocks followed:
- Riot Platforms: +8.09%
- Marathon Digital: +4.94%
- MicroStrategy (MSTR): +2.68%
- Robinhood (HOOD): +7.41%, boosted by a new 1% crypto deposit match promotion active through July 7
“Coinbase outpaced all major S&P 500 stocks amid geopolitical chaos and crypto optimism.” — Google Finance
📉 Circle Buckles Despite Market Optimism
Not all players saw green. Circle Internet Group (CRCL) slid 15.49%, despite being up 620% since its June 6 IPO. The pullback reflects profit-taking after an explosive debut.
🔄 Bitcoin & Crypto Market Hold Steady
Meanwhile, Bitcoin (BTC) climbed 1.20%, trading around $106,487, as the broader crypto market showed signs of resuming its uptrend:
- Ether (ETH): +1.99%
- XRP: +1.92%
🏛️ IPO Momentum Builds: OKX Eyes US Listing
Following renewed confidence in crypto equities, OKX is reportedly exploring a U.S. IPO as part of its relaunch strategy in the country. This highlights growing institutional interest in crypto firms going public.
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