U.S. cryptocurrency stocks experienced a significant surge on Tuesday, mirroring gains in the broader market. This rally occurred despite a seemingly fragile ceasefire between Iran and Israel, brokered by U.S. President Donald Trump, which reportedly saw violations from both sides shortly after its implementation.
While President Trump initially declared the ceasefire on social media on Monday with the optimistic claim that it would "go on forever," reports quickly emerged of missile strikes from both nations. Trump, addressing reporters on Tuesday, acknowledged the apparent breaches, stating, "We basically have two countries that have been fighting so long and so hard that they don’t know what the fuck they’re doing."
Coinbase Tops S&P 500 Gainers Amid Crypto Stock Rally
Despite the uncertainty surrounding the ceasefire, the positive sentiment in the market propelled crypto-related stocks upwards. Notably, cryptocurrency exchange Coinbase Global Inc. (COIN) emerged as the top-performing stock in the S&P 500 for the day, closing with an impressive gain of 12.10%.
Other crypto-related firms also saw substantial increases. Crypto mining company Riot Platforms (RIOT) spiked by 8.09%, Marathon Digital (MARA) rose by 4.94%, and Michael Saylor's Bitcoin-holding firm, MicroStrategy (MSTR), gained 2.68%, according to data from Google Finance.
The broader U.S. stock market also showed positive momentum, with the S&P 500 index closing up by 1.11% on Tuesday.
Robinhood Markets, Inc. (HOOD), a popular platform offering crypto trading, climbed by 7.41%. This coincided with the launch of its new promotion offering a 1% crypto deposit match, which began on Tuesday and will run through July 7.
Crypto Market Holds Steady Uptrend
While most crypto stocks enjoyed a rally, not all participated equally. Stablecoin issuer Circle Internet Group (CRCL) experienced a significant slide of 15.49% during Tuesday's trading session. However, it's important to note that CRCL, which recently went public, is still trading significantly higher, up nearly 620% since its debut at $31 on June 6.
Meanwhile, the broader cryptocurrency market has shown resilience and a slow resumption of its uptrend. Bitcoin (BTC) is up by 1.20% over the past 24 hours, trading at approximately $106,487 at the time of publication. Ether (ETH) spiked by 1.99%, and XRP recorded a gain of 1.92%, according to data from CoinMarketCap.
The increasing interest in publicly traded crypto stocks is also encouraging other firms to consider going public. Recent reports on June 23 indicated that major global cryptocurrency exchange OKX is exploring a potential public listing in the U.S. following its relaunch in the country.
June 2025, Cryptoniteuae