Coinbase Global (NASDAQ:COIN) stock was on pace to close out Monday's session up 6.2%, as a spike in the price of bitcoin (BTC-USD) drove up a slew of cryptocurrency-related stocks.

Shares of the crypto exchange still fell markedly since the start of 2024, retreating 28.3%, as bitcoin had a rough start to the year. From a year ago, though, COIN surged about 136%, outpacing BTC's ~81% jump.

In Monday midafternoon trading, bitcoin (BTC-USD) gapped up 2.7% to $43K, adding to last week's gains. Aside from Coinbase (COIN), BTC's intraday upswing sent many crypto-tied stocks higher, including MicroStrategy (MSTR) +3.2%, Galaxy Digital (OTCPK:BRPHF) +3.5%, Bakkt (BKKT) +10.4% and CleanSpark (CLSK) +5.4%.

On Friday, COIN caught a bid after Oppenheimer upgraded the stock to Outperform on the expectation that the company is coming out on top after last year's crypto slump.