Why Bitcoin- And Ethereum-Related Stocks Are Falling Today

Shares of several cryptocurrency-related companies, including Coinbase Global Inc COIN, Marathon Digital Holdings Inc MARA and Riot Blockchain Inc RIOT, are trading lower in sympathy with the price of Bitcoin BTC/USD and Ethereum ETH/USD

The rise in US Treasury yields has also pressured growth sectors. The 10-year US Treasury yield reached a high of 1.84% on Tuesday at the time of publication.

Coinbase is a provider of end-to-end financial infrastructure and technology for the crypto-economy. The stock was down 2.9% at $223.30 at publication time.

Marathon Digital is focused on mining digital assets. It owns cryptocurrency mining machines and a data center to mine digital assets. Shares were down 5.4% at $27.05 at publication time.

Riot Blockchain is focused on building, supporting and operating blockchain technologies. The stock was down 6.2% at $19.40 at publication time.

BTC, ETH Price Action: At publication time, Bitcoin was down 2% at $41,479 and Ethereum was down 3.7% at $3,111.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: CryptocurrencyMarketsMoversTrading Ideaswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!