What happened Shares of Canaan (NASDAQ: CAN) jumped as much as 17.2% higher on Monday morning. The Beijing-based developer and maker of cryptocurrency mining machines didn't have any company-specific news to share today or over the weekend, but the stock benefitted from a positive development in the crypto space. So what Payment-processing giant Visa (NYSE: V) just announced that it will start to settle payments over the Ethereum (CRYPTO: ETH) network later this year. In particular, Visa's bridge between the cryptocurrency and fiat currency worlds will rely on the Ethereum-based USD Coin (CRYPTO: USDC), whose value is pegged to the U. S. Dollar through Ethereum's smart contracts. Visa's cautious step into the blockchain market is generally seen as a positive sign for the large-scale viability of cryptocurrencies and related services, driving many cryptocurrencies higher today. Ethereum is up by 4.3% at noon, EDT. Bitcoin (CRYPTO: BTC) has gained 3.2%. The USD Coin remained as stable as ever, staying within 0.1% of yesterday's dollar value. Image source: Getty Images. Now what Canaan's popular Avalon miners are tailor-made for Bitcoin mining, not Ethereum. The big idea here is that traditional finance powerhouses like Visa are starting to take the cryptocurrency market seriously as a whole, which should lead to increased demand for Bitcoin miners down the road. Canaan's shares have now gained 830% in six months, but the skyrocketing journey has not been smooth. The stock also stands 54% below the all-time highs that were set earlier this month, when Bitcoin prices topped out above $61,000 per token. Canaan is a volatile ticker and should be treated with caution. There are many ways to invest in the Bitcoin and Ethereum markets with far lower market risk. 10 stocks we like better than Canaan Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Canaan Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of February 24, 2021 Anders Bylund owns shares of Bitcoin and Ethereum. The Motley Fool owns shares of and recommends Bitcoin and Visa. The Motley Fool has a disclosure policy.Source