Shares of Ebang International Holdings(NASDAQ:EBON) skyrocketed on Friday after the company set the launch date for its new cryptocurrency exchange. The move had been previously announced, but investors are excited to see an official timetable. As of 11:30 a.m. EST today, Ebang International was up an impressive 42%. 

Think of a cryptocurrency exchange like a brokerage account for cryptocurrencies instead of stocks. As cryptocurrencies have surged in popularity, so too have profits for these exchanges and investors' interest in the space. For example, Coinbase's upcoming direct-listing initial public offering (IPO) is creating some buzz. Although Ebang International only generated revenue by selling equipment for mining Bitcoin and by providing related services, it wants to grab a piece of this lucrative cryptocurrency-exchange market.

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