Why Bitcoin- And Ethereum-Related Stocks Are Sliding Today

Cryptocurrency-related stocks, including Marathon Digital Holdings Inc MARA, Riot Blockchain Inc RIOT and Coinbase Global Inc COIN are trading lower Thursday amid a decrease in the price of Bitcoin BTC/USD and Ethereum ETH/USD.

Crypto markets may be facing continued selling pressure as a result of Evergrande's default last week, developments on Capitol Hill and uncertainty over the omicron variant.

Executives from six cryptocurrency companies appeared before the House Financial Services Committee last week, as lawmakers spent hours trying to better understand how to approach crypto regulations.

Marathon Digital is focused on mining digital assets. It owns cryptocurrency mining machines and a data center to mine the digital assets. The stock was down 8.88% at $36.85 at publication time.

Riot Blockchain is focused on building, supporting and operating blockchain technologies. The stock was down 7.04% at $24.18 at publication time.

Coinbase is a provider of end-to-end financial infrastructure and technology for the crypto-economy. The stock was down 3.27% at $247.39 at publication time.

See Also: Bitcoin, Ethereum, Dogecoin Trade Flat To End The Week And These Analysts Are Calling A Bottom

BTC, ETH Price Action: At time of publication, Bitcoin was down 7.62% at $46,361 over a 24-hour period and Ethereum was down 10.16% at $3,722.19 over a 24-hour period.

Photo: jievani from Pixabay.