Cryptocurrency Market Update

Cryptocurrency Market Update

Major Cryptocurrencies Experience Declines

During morning trading on Wednesday, the cryptocurrency market saw significant drops across the board. The largest move was seen in Polygon (MATICUSD), which dropped 9.57% to 93 cents. Other major cryptocurrencies also experienced notable declines:

• Cardano (ADAUSD) fell 6.61% to 59 cents
• Solana (SOLUSD) shed 5.34% to $101.79
• Polkadot (DOTUSD) dropped 5.34% to $7.30
• Ripple (XRPUSD) declined 4.56% to 54 cents
• Uniswap (UNIUSD) declined 5.07% to $7.16
• Ethereum (ETHUSD) fell 3.32% to $2,891.24
• Dogecoin (DOGEUSD) dropped 2.97% to 8 cents
• Bitcoin (BTCUSD) rounded out the decreases with a 2.17% decline to $50,909.00

Crypto-Related Company Performance

In the realm of crypto-related companies, there were mixed results:

• Shares of Coinbase Global Inc. (COIN) fell 5.54% to $163.70
• MicroStrategy Inc. (MSTR) shed 4.73% to $671.65
• Riot Platforms Inc. (RIOT) shares dropped 4.55% to $15.31
• Marathon Digital Holdings Inc. (MARA) declined 5.06% to $23.27
• Block Inc. (SQ) decreased by 1.82% to $64.53
• Tesla Inc. (TSLA) climbed 1.78% to $197.20
• PayPal Holdings Inc. (PYPL) sank 0.92% to $58.09
• Ebang International Holdings Inc. (EBON) shares climbed 2.43% to $10.53
• NVIDIA Corp. (NVDA) dropped 1.66% to $682.98
• Advanced Micro Devices Inc. (AMD) inched down 0.97% to $164.09

Fund Space Movement

In the fund space, specific ETFs saw movement as well:

• Blockchain-focused Amplify Transformational Data Sharing ETF (BLOK) declined 2.62% to $30.80
• Bitwise Crypto Industry Innovators ETF (BITQ), which focuses on pure-play crypto companies, declined 4.54% to $10.73