ET, Coinbase investors have seen a 3% gain turn into a 1.6% loss, good for a swing of nearly 5% on the day.

However, market-driven volatility among many high-growth names, particularly key components of the NasdaqВ and S&P 500, have driven markets lower this afternoon.ДЄs of 2:15 p.m. This morning, Coinbase surged more than 3% before 10 a.m. Popular cryptocurrency-exchange Coinbase GlobalВ (NASDAQ:COIN) has seen some significant volatility today. Related ArticlesCould the NFT Market Become Bigger Than Bitcoin?Can Bitcoin Hit $100,000 in 2022?Where to Invest in 2022 If You're Worried About InflationHow to Manage Volatility as Bitcoin and Ethereum Fluctuate Wildly2 Cryptocurrencies to Buy and Hold Forever Cost basis and return based on previous market day close. Д¬umulative Growth of a $10,000 Investment in Stock AdvisorCalculated by Time-Weighted ReturnStocksBTCBitcoin CRYPTO:BTCDOGEDogecoin CRYPTO:DOGEETHEthereum CRYPTO: CRYPTO:CROДЄverage returns of all recommendations since inception. Stock Advisor launched in February of 2002. Stock Advisor list price is $199 per year. Stock Advisor will renew at the then current list price. Stock AdvisorS&P 500558%137%Join Stock AdvisorДiscounted offers are only available to new members. WeвЂ™re motley! Questioning an investing thesis - even one of our own - helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.

This article represents the opinion of the writer, who may disagree with the вЂњofficialвЂќ recommendation position of a Motley Fool premium advisory service. With the market heading higher Thursday, it's not surprising that some of the biggest cryptocurrencies are rising as well. The crypto market continues to be volatile, but also correlated with the broader stock market overall. Volatility certainly plays a role as well. That's at least one reason the crypto market is moving higher Thursday. And the cryptocurrencies that developers are building applications on are the ones that will be successful long term. Long term, the reason I'm bullish on cryptocurrencies generally is the underlying innovation and utility that can be built on these platforms. The firm has been a key player in helping to build out infrastructure for cryptocurrency and NFT trading, but this investment round could take its involvement to another level. However, I would recommend paying more attention to the moves Andreesen Horowitz makes in the space. The news out of Russia is generally a negative for cryptocurrencies, but not surprising. Initial reports indicate that a $3.5 billion fund will be dedicated to traditional venture investments in companies building for Web 3.0 and the cryptocurrency environment, while $1 billion will be invested in digital tokens.ДЄndreessen Horowitz has already been one of the most successful cryptocurrency investors to date, and this could solidify its position as the biggest player in this emerging industry. More consequential news came from venture capital firm Andreessen Horowitz, which is reportedly interested in raising $4.5 billion for new Web 3.0 and cryptocurrency funds. For numerous reasons, it wouldn't be surprising to see Russia follow a similar path.Д¬ryptocurrencies would like a bigger global audience, but the market clearly doesn't see Russia's actions as something to worry about right now. China was the first major country to ban cryptocurrencies. Many crypto mining operations have set up shop in the country. The biggest news on the cryptocurrency front actually came out of Russia, where the country's central bank and the Federal Security Service (FSB) have called for a ban on trading cryptocurrencies, and that ban may extend to mining crypto as well. Coin (CRYPTO:CRO) was up by as much as 9% and is currently 8.4% higher for the day. Ethereum (CRYPTO:ETH) rose by as much as 4.8% and is now up 3.9%, while Dogecoin (CRYPTO:DOGE) was up by as much as 4.7% and is currently 2.6% higher. But the bigger news was about a new venture capital fund being raised by Andreesen Horowitz.Д«itcoin (CRYPTO:BTC) was the biggest cryptocurrency to make a significant gain Thursday: It was up by 4.1% at one point in the last 24 hours and at the time of this writing is trading 3.4% higher. The broader stock market is up, and tech stocks, in particular, are moving higher, which generally helps cryptocurrencies. Cryptocurrencies were experiencing a nice rebound on Thursday after feeling pressure earlier in the week.

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