Why Bitcoin- And Ethereum-Related Stocks Are Falling

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

The crypto market has been tracking Nasdaq performance closely over the last few months. The Nasdaq was leading the markets lower on Tuesday at last check.

Coinbase is the leading cryptocurrency exchange platform in the United States. The stock was down 5.70% at $66.64 at time of publication, according to data from Benzinga Pro.

See Also: Coinbase Holds Strong On Bitcoin, Ethereum Strength: Here's Why The Stock Must Hold This Pattern

Marathon Digital is focused on mining digital assets. The company owns cryptocurrency mining machines and a data center to mine the digital assets. Marathon Digital shares were down 5.49% at $8.44 at press time.

Riot Blockchain is focused on building, supporting and operating blockchain technologies. The stock was down 6.28% at $5.97 at time of publication.

$BTC, $ETH Price Action: Bitcoin was down 5.59% over a 24-hour period at $29,627.09 at press time. Ethereum was down 7.25% over a 24-hour period at $1,764.51 at press time.

Photo: Eivind Pedersen from Pixabay.