Overview
Most large cryptocurrencies experienced a decline during morning trading on Tuesday. Solana (SOLUSD) saw the biggest drop, falling 1.52% to $23.37. Ripple (XRPUSD) dropped by 1.44% to 69 cents, while Cardano (ADAUSD) shed 1.35% to 30 cents. Bitcoin (BTCUSD) declined by 1.35% to $28,866.60, and Ethereum (ETHUSD) decreased by 1.06% to $1,833.68. Other cryptocurrencies that posted losses include Uniswap (UNIUSD), Polygon (MATICUSD), and Dogecoin (DOGEUSD). However, Polkadot (DOTUSD) bucked the trend and registered a slight increase of 0.07%, reaching $5.09.
Company News
In terms of crypto-related company news, Coinbase Global Inc. (COIN) shares dropped 7.01% to $91.70, while MicroStrategy Inc. (MSTR) shed 2.91% to $425.13. Riot Platforms Inc. (RIOT) saw a decline of 4.72% to $17.65, and Marathon Digital Holdings Inc. (MARA) dropped by 5.88% to $16.35. Other companies that experienced losses include Overstock.com Inc. (OSTK), Block Inc. (SQ), Tesla Inc. (TSLA), PayPal Holdings Inc. (PYPL), Ebang International Holdings Inc. (EBON), NVIDIA Corp. (NVDA), and Advanced Micro Devices Inc. (AMD).
Fund Space
In the fund space, blockchain-focused Amplify Transformational Data Sharing ETF (BLOK) declined by 2.49% to $25.42. The Bitwise Crypto Industry Innovators ETF (BITQ), which focuses on pure-play crypto companies, saw a drop of 5.07% to $9.54. Grayscale Bitcoin Trust (GBTC), which tracks the Bitcoin market price, declined by 1.93% to $18.76.
