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Cryptocurrency Market Update



Most large cryptocurrencies experienced a decline during morning trading on Tuesday. Cardano (ADAUSD) saw the biggest move, dropping 3.51% to 54 cents. In addition to Cardano, seven other currencies posted reductions. Uniswap (UNIUSD) fell 2.63% to $6.63, and Polygon (MATICUSD) fell 2.54% to 86 cents. Ripple (XRPUSD) declined 2.54% to 52 cents, while Bitcoin (BTCUSD) fell 2.35% to $48,674.50. Dogecoin (DOGEUSD) also declined by 1.45% to 8 cents. Polkadot (DOTUSD) and Solana (SOLUSD) rounded out the decreases for Tuesday, dropping 1.10% to $7.19 and 0.35% to $109.86, respectively.

However, Ethereum (ETHUSD) was the only cryptocurrency among the largest ones to experience an increase, rising 0.08% to $2,632.68.

Company News

In crypto-related company news, several stocks experienced declines. Coinbase Global Inc. (COIN) declined 5.02% to $139.91, while MicroStrategy Inc. (MSTR) shed 6.67% to $669.70. Riot Platforms Inc. (RIOT) shares declined 7.35% to $14.75, and Marathon Digital Holdings Inc. (MARA) tumbled 10.19% to $24.50.

Block Inc. (SQ) declined 5.02% to $65.39, and Tesla Inc. (TSLA) dropped 1.04% to $186.17.

PayPal Holdings Inc. (PYPL) shed 3.59% to $57.94, and Ebang International Holdings Inc. (EBON) shares dropped 3.96% to $10.67. NVIDIA Corp. (NVDA) declined 1.49% to $711.71, and Advanced Micro Devices Inc. (AMD) shed 1.90% to $168.64.


In the fund space, the blockchain-focused Amplify Transformational Data Sharing ETF (BLOK) dropped 3.79% to $29.98. The Bitwise Crypto Industry Innovators ETF, which is focused on pure-play crypto companies, shed 6.34% to $10.49.


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