Cryptocurrency Market Update

by Warren Seah

Most large cryptocurrencies experienced a decline during morning trading on Tuesday. Ripple (XRPUSD) was hit the hardest, dropping 5.72% to 68 cents. Several other currencies also saw decreases, with Cardano (ADAUSD) falling 5.52% to 35 cents and Uniswap (UNIUSD) dropping 3.27% to $4.91. Dogecoin (DOGEUSD) slipped 3.27% to 7 cents, while Polkadot (DOTUSD) decreased by 0.98% to $4.87. Polygon (MATICUSD) saw a slight dip of 0.92% to 71 cents.

Ethereum (ETHUSD) and Bitcoin (BTCUSD) also experienced a decrease on Tuesday, with Ethereum dropping 0.74% to $1,877.68 and Bitcoin slipping 0.50% to $34,845.10.

On the positive side, Solana (SOLUSD) made gains among the largest cryptocurrencies, rising by 3.89% to $41.96.

In terms of crypto-related company news, Coinbase Global Inc. (COIN) saw a slight increase of 0.11% to $86.47, while MicroStrategy Inc. (MSTR) dipped 0.35% to $458.00. Riot Platforms Inc. (RIOT) and Marathon Digital Holdings Inc. (MARA) both experienced decreases, falling 2.59% to $10.73 and 2.81% to $8.98, respectively.

Block Inc. (SQ) showed a modest increase of 2.71% to $50.86, while Tesla Inc. (TSLA) slightly declined by 0.85% to $217.41.

PayPal Holdings Inc. (PYPL) had a minor climb of 0.03% to $54.63, and Ebang International Holdings Inc. (EBON) maintained steadiness at $8.04. NVIDIA Corp. (NVDA) saw a decrease of 0.35% to $455.90, while Advanced Micro Devices Inc. (AMD) climbed 0.71% to $112.55.

In the fund space, the blockchain-focused Amplify Transformational Data Sharing ETF (BLOK) experienced a slight decrease of 0.62% to $21.77. The Bitwise Crypto Industry Innovators ETF (BITQ), which focuses on pure-play crypto companies, declined by 2.15% to $7.27. The Grayscale Bitcoin Trust (GBTC), which tracks the Bitcoin market price, sank 0.77% to $26.74.

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