US Crypto Stocks Surge Amid Fragile Trump-Brokered Ceasefire Between Iran and Israel
U.S. crypto-related stocks rallied sharply on Tuesday, buoyed by a tentative ceasefire agreement between Iran and Israel mediated by President Donald Trump, even as tensions in the region remain unresolved.
Trump announced the ceasefire agreement via social media on Monday, proclaiming that it would “go on forever.” However, missile exchanges reportedly resumed shortly after the agreement took effect. Speaking to reporters on Tuesday, Trump acknowledged both sides may have violated the terms, stating bluntly:
“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 Leads S&P 500 as Top Gainer
Investor optimism translated into a broad market rally, with crypto stocks at the forefront.
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Coinbase Global Inc. (COIN) surged 12.10%, making it the best-performing stock on the S&P 500 for the day.
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Riot Platforms jumped 8.09%, while Marathon Digital Holdings gained 4.94%.
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Strategy (MSTR), the Bitcoin-holding firm led by Michael Saylor, rose 2.68%.
The S&P 500 index itself ended the session up 1.11%.
Meanwhile, Robinhood (HOOD) also saw a solid 7.41% gain, coinciding with the launch of its 1% crypto deposit match promotion, which runs through July 7.
Crypto Market Shows Resilience
Despite the geopolitical uncertainty, the crypto market itself remained stable.
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Bitcoin (BTC) climbed 1.20%, trading at around $106,487.
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Ethereum (ETH) rose 1.99%, and
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XRP gained 1.92%, according to CoinMarketCap.
Circle Pulls Back After Massive Gains
Not all crypto stocks joined the rally. Circle Internet Financial (CRCL) — the issuer of the USDC stablecoin — dropped 15.49% on Tuesday. Still, the company remains up nearly 620% since its public debut on June 6, when it listed at $31 per share.
More Crypto Firms Eye Public Listings
Investor interest in the crypto sector appears to be reigniting IPO ambitions. On June 23, reports surfaced that OKX, a major global crypto exchange, is considering a U.S. public listing following its recent relaunch in the country.
With the crypto market stabilizing and institutional momentum building, analysts suggest continued upside — assuming no further escalation in global tensions.
