Cryptocurrency Market Update

Declines in Major Cryptocurrencies

During morning trading on Friday, several large cryptocurrencies experienced downward movement. The most significant decrease was observed in Uniswap (UNIUSD), which declined by 4.13% to reach $4.96. Alongside this, six other currencies also posted reductions:

  • Solana (SOLUSD) dropped by 3.84% and reached $56.29.
  • Polygon (MATICUSD) shed 3.68% and was valued at 82 cents.
  • Polkadot (DOTUSD) recorded a decrease of 3.68% and settled at $5.19.
  • Ripple (XRPUSD) declined by 2.80% to reach 60 cents.
  • Cardano (ADAUSD) saw a 2.10% decline and settled at 36 cents.

Ethereum (ETHUSD), on the other hand, experienced the smallest decrease, shedding 1.23% to reach $1,932.26.

Gains in Select Cryptocurrencies

Amidst the overall downward trend, there were two cryptocurrencies that posted increases. Dogecoin (DOGEUSD) saw the largest rise, climbing by 3.10% to reach 8 cents. Bitcoin (BTCUSD) also experienced a slight increase of 0.13% and settled at $36,013.10.

In terms of crypto-related companies, several stocks exhibited changes in their value:

  • Coinbase Global Inc. (COIN) shed 1.19% and reached $95.77.
  • MicroStrategy Inc. (MSTR) saw a decrease of 0.24% and settled at $487.93.
  • Riot Platforms Inc. (RIOT) shares dropped by 1.67% to $9.99.
  • Marathon Digital Holdings Inc. (MARA) declined by 1.61% and reached $9.60.

Meanwhile, Block Inc. (SQ) rose by 1.08% to $56.89, and Tesla Inc. (TSLA) experienced a decrease of 1.61% to reach $229.83.

Other companies that witnessed slight declines include PayPal Holdings Inc. (PYPL) which slid 0.46% to $56.56, Ebang International Holdings Inc. (EBON) with a decrease of 0.20% to $7.48, NVIDIA Corp. (NVDA) which inched down 0.31% to reach $493.27, and Advanced Micro Devices Inc. (AMD) which sank 0.35% to $119.41.

Changes in Cryptocurrency Funds

Within the fund space, there were also changes observed:

  • Amplify Transformational Data Sharing ETF (BLOK), focused on blockchain, inched down by 0.43% and settled at $22.09.
  • The Bitwise Crypto Industry Innovators ETF (BITQ), which is focused on pure-play crypto companies, dropped by 1.10% to reach $7.20.
  • Grayscale Bitcoin Trust (GBTC), which tracks the Bitcoin market price, experienced a slight decline of 0.38% and settled at $28.88.
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