Published on 13 Mar 2023 on Insider Monkey via Yahoo Finance
10 Most Profitable Cryptocurrency Stocks
In this article, we will be taking a look at the 10 most profitable cryptocurrency stocks. To skip our detailed analysis of the cryptocurrency stock market, you can go directly to see the 5 Most Profitable Cryptocurrency Stocks.
The crypto market saw a prolonged decrease in the prices of cryptocurrencies following 2021, which has been termed the 'Crypto winter'. However, despite reaching a bottom in 2022, cryptocurrencies have seen a major rally in 2023. Between the start of 2023 and March 1st, Bitcoin is 40.1% higher while Ethereum is 35.3% higher. Furthermore, compared to its low in November, Bitcoin has risen by more than 53%. Yet, despite a strong correlation between crypto-exposed stocks and bitcoin, a number of crypto-exposed stocks including Marathon Digital Holdings, Inc. (NASDAQ:MARA), Riot Platforms, Inc. (NASDAQ:RIOT), and CleanSpark, Inc. (NASDAQ:CLSK) were in the red and analysts attribute this to bitcoin's weakened relationship with the stock market compared to previous years.