Cryptocurrency Market Update
Most major cryptocurrencies saw gains in the latest market update, with Polygon, Dogecoin, and Cardano leading the way. Coinbase, MicroStrategy, and Riot Platforms were among the companies that experienced declines.
Most major cryptocurrencies experienced gains during morning trading on Tuesday. The leading performer was Polygon (MATICUSD), which saw a significant increase of 1.54%, reaching 53 cents. Dogecoin (DOGEUSD) also climbed by 1.17% to 6 cents, while Cardano (ADAUSD) rose by 0.96% to 25 cents.
Other notable increases included Solana (SOLUSD), which rose by 0.81% to $19.86, and Uniswap (UNIUSD), which saw a 0.78% increase to $4.42. Bitcoin (BTCUSD) also experienced a modest growth of 0.70%, reaching $26,980.00.
Meanwhile, Ripple (XRPUSD) and Ethereum (ETHUSD) both posted gains, with increases of 0.70% and 0.05% respectively. Ripple reached 51 cents, while Ethereum rose to $1,638.81.
On the flip side, Polkadot (DOTUSD) was the only cryptocurrency to experience a decline, falling by 0.32% to $4.10.
In terms of cryptocurrency-related companies, Coinbase Global Inc. (COIN) witnessed a decline of 3.62%, reaching $78.66, while MicroStrategy Inc. (MSTR) saw a decrease of 1.50%, reaching $335.52. Riot Platforms Inc. (RIOT) shares fell by 3.03% to $10.60, and Marathon Digital Holdings Inc. (MARA) experienced a decline of 3.93% to $9.41.
Other notable declines in the industry included Overstock.com Inc. (OSTK), which dropped by 2.40% to $18.28, and Block Inc. (SQ), which saw a decrease of 2.81% to $49.81. Tesla Inc. (TSLA) also fell by 1.32%, reaching $261.79.
Furthermore, PayPal Holdings Inc. (PYPL) experienced a decline of 1.63% to $61.91, and Ebang International Holdings Inc. (EBON) saw a decrease of 0.53% to $7.50. NVIDIA Corp. (NVDA) also dropped by 1.09% to $434.86, while Advanced Micro Devices Inc. (AMD) fell by 1.42% to $100.92.
Within the fund space, the blockchain-focused Amplify Transformational Data Sharing ETF (BLOK) fell by 1.12% to $20.80. The Bitwise Crypto Industry Innovators ETF (BITQ), which focuses on pure-play crypto companies, saw a decline of 2.00%, reaching $7.07. However, the Grayscale Bitcoin Trust (GBTC), which tracks the Bitcoin market price, experienced a modest increase of 1.14% to $19.45.