Crypto Stocks Explode — Canaan and Yunfeng Financial Surge Over 30%

TradingKey – On Tuesday, July 15, Crypto-Stocks in Hong Kong and U.S. markets rallied sharply following Bitcoin’s recent price spike.

In Hong Kong, crypto equities surged at the open:

• Yunfeng Financial (00376.HK) jumped over 30%, leading the pack
• Jinyong Investment (01328.HK) rose more than 12%
• China Merchants Securities (06099.HK) briefly gained nearly 15%
• VST Holdings (00856.HK) climbed over 6%

In U.S. markets, crypto-linked stocks also posted strong gains on Monday:

• Canaan Inc. (CAN) soared 34%
• Circle (CRCL) rallied over 9%
• Core Scientific (CORZ) rose more than 8%
• MicroStrategy (MSTR) gained nearly 4%
• Robinhood (HOOD) and Coinbase (COIN) each added around 2%

The broad rally was fueled by Bitcoin’s surge above $120,000, which significantly boosted mining-related stocks due to higher fiat-denominated mining revenues. However, at press time, Bitcoin has pulled back, trading at $118,034, just below the key psychological threshold.