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.
Impact on Crypto-Related Companies
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.