Bitcoin, XRP, Ethereum Surge. Why Eightco’s Bet on Worldcoin Is Boosting Crypto.

Bitcoin has enjoyed a strong start to September. (AFP via Getty Images)

Bitcoin and other cryptocurrencies rose early Tuesday as digital assets matched the stock market’s strong recent optimism amid rising expectations around Federal Reserve interest rate-cuts.

The technology-heavy Nasdaq Composite Index closed at a record Monday and futures pointed toward new highs Tuesday. Crypto assets have tended to follow their tech neighbors higher and this current rally is no different.

The world’s largest cryptocurrency climbed to $112,937 early in the day, up 0.8% over the past 24 hours, according to CoinDesk data. Bitcoin is up 4% so far in September after slumping at the end of August following its record high above $124,000 in the middle of the month. Ethereum , the second biggest crypto, rose 0.9% to $4,357.

Smaller coins also continued to rally— XRP , the popular altcoin, was up 2.6% at $3.01 and has now jumped 6.5% this month. Solana rose 3.8%, Dogecoin gained 2.9% and Worldcoin—the crypto token of OpenAI CEO Sam Altman’s World project—surged 56%.

Technology company Eightco , which trades under the ticker OCTO, surged 3,000% Monday after it sold new stock to fund purchases of Worldcoin—adopting a similar model to that of Strategy , formerly known as MicroStrategy, the largest corporate Bitcoin holder.

It isn’t just stock market positivity that’s boosting digital assets—cryptos are experiencing their own hype and momentum.

Write to Callum Keown at callum.keown@dowjones.com