News that the U.S. Senate passed the GENIUS Act is also creating tailwinds
Cryptocurrency-adjacent stocks are in the spotlight today, after Bitcoin (BTC) nabbed a record peak earlier. News that the U.S. Senate passed the GENIUS Act, which will regulate stablecoin, is also sparking interest in the sector.
Shares of MARA Holdings Inc (NASDAQ:MARA) were last up 0.9% to trade at $15.99, enjoying newfound support from the 100-day moving average after earlier hitting their highest level since February. Though overhead pressure at $18 lingers, MARA boasts a 38.2% quarter-to-date lead.
MicroStrategy Inc (NASDAQ:MSTR) stock is 0.6% higher to trade at $404.74 at last glance, pacing for its fifth gain in the last six sessions. Shares are still trading near their May 9, five-month high of $430.35, as they continue to rely on a long-term floor at their ascending 20-day trendline. In the last 12 months, MSTR added over 145%.
Outpacing its peers today, Riot Platforms Inc (NASDAQ:RIOT) is up 2.2% to trade at $9.03 at last check. The security added 26.3% so far this quarter, and is set to snap its three-day losing streak, though it has yet to conquer a ceiling at the $10 region that has been capping price action since late February.