Why Coinbase Stock Was Going Up With Popular Cryptocurrencies Today

Shares of cryptocurrency exchange Coinbase Global (NASDAQ: COIN) were rising on Monday. As of 11:20 a.m. EDT, the stock was up over 5%. And this is because popular cryptocurrencies like Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) were rising over the weekend. For its part, Dogecoin (CRYPTO: DOGE) is down, but it still has some news worth reporting that may also have implications for Coinbase.

Last week, the CEO of AMC Entertainment announced that digital gift cards could now be purchased with Dogecoin. In the near future, the company hopes to allow Dogecoin and other cryptocurrencies to be used to purchase tickets directly through its payment system. But for now, gift cards can be bought through a third party.

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Source Fool.com