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Why is CONY Up Today After Crypto Resilience

The Yieldmax Coin Option Income Strategy ETF (CONY) closed on January 22nd up 1.02% at $13.80, buoyed by a modest rise in the underlying asset, Coinbase Global Inc., which saw a 0.19% increase to $294.76. The uptick in Coinbase's stock price was supported by a positive sentiment in the cryptocurrency market, as Bitcoin and Ethereum showed resilience amid regulatory uncertainties. Additionally, the recent stabilization in crypto prices has encouraged investors to re-enter the market, providing a lift to Coinbase's trading volumes and, consequently, its stock performance.