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Athena Bitcoin (OTCMKTS:ABIT) stock is climbing higher on Friday as a rally of Bitcoin (BTC-USD) pushes shares up.
Lets start real quick with whats happening with BTC. As of Friday afternoon, the crypto is up 11.5% over the prior 24-hour period. That comes alongside a 21% increase in trading volume for the token.
Thats big news for fans of BTC as the crypto is now trading above $21,000 per token. Its been a couple of weeks since Bitcoin last reached that price and traders are likely hoping the rally will continue over the weekend.
Considering Athena Bitcoin is so closely tied to the crypto as to have it in its name, it makes sense its shares would rally today as well. As of this writing, more than 58,000 shares of the companys stock have changed hands. While that may not seem like much, the companys daily average trading volume is only about 13,000 shares.
Of course, with such a low average trading volume, as well as a price sitting at around 55 cents per share, investors will want to be careful with ABIT stock. Those two factors put it firmly in the penny stock range. That means volatility is likely as traders can more easily influence its stock price.
ABIT stock is up 48.7% as of Friday afternoon.
Theres plenty more stock market news traders can read up on below!
InvestorPlace is home to all of the hottest stock market news for Friday! A few examples of that include why shares of Nio(NYSE:NIO), Lyft(NASDAQ:LYFT), and Digital World Acquisition(NASDAQ:DWAC) stock are moving today. You can get all of that news from the following links!
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Read More:Penny Stocks How to Profit Without Getting Scammed
On the date of publication, William Whitedid not have (either directly or indirectly) any positions in the securities mentioned in this article.The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.
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What Is Going on With Athena Bitcoin (ABIT) Stock Today? - InvestorPlace
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- Bitcoin price falls below $39,000 as indicators suggest risk of a deeper correction, according to Bitfinex - The Block - January 25th, 2024 [January 25th, 2024]
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- AI Agents Are Coming For CryptoPalantir Cofounder Issues Very Important Bitcoin, Ethereum, Solana And XRP Price Prediction - Forbes - January 25th, 2024 [January 25th, 2024]
- This Investing Phenomenon Could Be Why Bitcoin Prices Are Down After ETF Approval - Money - January 25th, 2024 [January 25th, 2024]
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- These two drivers will fuel Bitcoin's rebound: 'It's happened often before' - DLNews - January 25th, 2024 [January 25th, 2024]
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- Bitwise releases wallet addresses of spot Bitcoin ETF holdings - Cointelegraph - January 25th, 2024 [January 25th, 2024]
- Mt. Gox Moves Seemingly Closer to Bitcoin Repayments For 2014 Hack Victims - CoinDesk - January 25th, 2024 [January 25th, 2024]
- Coinbase faces headwinds as Bitcoin and ETF interest dips, says JPMorgan - crypto.news - January 25th, 2024 [January 25th, 2024]
- Waning Bitcoin ETF Hype to Drag on Coinbase, JPMorgan Says - Yahoo Finance - January 25th, 2024 [January 25th, 2024]
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