Coinbase Global Inc (NASDAQ:COIN) shares are climbing this Monday. A broad rally across the cryptocurrency sector is driving the upward momentum.
Crypto Market Cap Hits $2.38 Trillion
The total cryptocurrency market capitalization rose 3.47% to reach $2.38 trillion on Monday. This surge provides a strong tailwind for the exchange operator. Bitcoin (CRYPTO: BTC) gained 4.01% over the last 24 hours.
It currently trades at $69,660.95. Ethereum (CRYPTO: ETH) followed suit, jumping 5.39% to $2,151.12, according to data from CoinMarketCap.
Short Interest Data Shows Decline
Short interest in Coinbase has decreased. …