Dow futures indicate a positive opening in the market, driven by significant movements in the cryptocurrency sector. MicroStrategy, a prominent bitcoin investor, has seen its shares rise nearly 6% following a 2% increase in bitcoin, which is currently trading around $96,500.

This rise in cryptocurrency is also positively impacting other companies. For instance, Coinbase Global’s stock has climbed over 4%. Additionally, Tesla’s stock has increased by 1.2% as investors await the upcoming announcement of fourth-quarter vehicle delivery data on Thursday. U.S.-listed shares of NIO are up 1% after the electric vehicle manufacturer reported an impressive 73% surge in total vehicle sales for December, reaching 31,138 units.

On the downside, SoFi Technologies has dropped by 2.5% after a downgrade from analysts at Keefe Bruyette, changing its rating from Market Perform to Underperform. In contrast, Unity Software has experienced a notable increase, with shares soaring nearly 8% following a social media mention from investor Roaring Kitty, also known as Keith Gill, regarding the video gaming software company.

📎 Related coverage from: marketwatch.com