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Cryptocurrency Market Soars Across the Board! Crypto Concept Stocks Lead the Surge in US Markets!

TradingKey

AuthorBlock Tao

May 9, 2025 2:59 AM

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TradingKey – The U.S. and the UK have finalized a trade agreement, triggering a broad rally across U.S. stocks and the crypto market. Ethereum (ETH) has surged more than 20%.

On Thursday, U.S. and UK officials reached a new trade deal, maintaining a 10% base tariff on UK imports, introducing gradual tariff reductions on UK auto imports, and removing tariffs on UK steel and aluminum. Additionally, the UK has agreed to zero tariffs on U.S. agricultural products.

This trade deal marks the first formal agreement under President Trump’s global tariff policy. The reduction in trade tensions has fueled an uptick in both the crypto market and U.S. equities.

Over the past 24 hours, the crypto market saw a net inflow of $200 billion, pushing total market capitalization from $3 trillion to $3.22 trillion, returning to March highs.

Crypto Market Capitalization Trend Over the Past Year,Source: CoinMarketCap

Crypto Market Capitalization Trend Over the Past Year,Source: CoinMarketCap

Notably:

- Ethereum (ETH) skyrocketed 20%,

- Dogecoin (DOGE) surged 12%,

- Solana (SOL) gained 10%,

- Ripple (XRP) rose 8%,

- Bitcoin (BTC) climbed over 5%.

At Thursday’s closing bell, all three major U.S. stock indices were up, with crypto-related stocks leading the rally:

- Canaan Inc. (CAN) gained 9%,

- Robinhood (HOOD) climbed 8%,

- MARA Holdings Inc. (MARA) rose 7%,

- Strategy Inc (MSTR) advanced over 5%.

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

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