Cryptocurrency Market Update

by Warren Seah

Most major cryptocurrencies experienced a decline during morning trading on Tuesday. One of the biggest changes was observed in Polygon (MATICUSD), which fell by 4.97% to 53 cents.

Several other currencies also posted reductions on Tuesday. Uniswap (UNIUSD) saw a decrease of 3.08% to $4.67, while Cardano (ADAUSD) fell by 2.72% to 26 cents.

Solana (SOLUSD) recorded a 2.72% decline, reaching $20.85, while Ripple (XRPUSD) shed 1.69% to 51 cents. Polkadot (DOTUSD) experienced a decrease of 1.09% and fell to $4.39.

Ethereum (ETHUSD) and Bitcoin (BTCUSD) rounded out the decreases for Tuesday, dropping 1.01% to $1,655.53 and 0.50% to $25,980.90, respectively.

In contrast, Dogecoin (DOGEUSD) posted the only increase among the largest cryptocurrencies, rising by 0.02% to 6 cents.

Crypto Company News

Turning to crypto-related company news, Coinbase Global Inc. (COIN) saw a decline of 1.35% to $74.27, while MicroStrategy Inc. (MSTR) climbed by 0.40% to $336.59. Riot Platforms Inc. (RIOT) share prices declined by 1.63% to $10.56, and Marathon Digital Holdings Inc. (MARA) slipped by 0.63% to $10.98. Inc. (OSTK) experienced a drop of 1.70% to $24.61, while Block Inc. (SQ) dropped 1.69% to $56.59. Tesla Inc. (TSLA) saw an increase of 1.88% to $235.62.

PayPal Holdings Inc. (PYPL) experienced a climb of 0.22% to $59.64, and Ebang International Holdings Inc. (EBON) share prices fell by 1.19% to $7.63. NVIDIA Corp. (NVDA) fell by 1.09% to $464.55, while Advanced Micro Devices Inc. (AMD) decreased by 1.00% to $107.14.

Fund Performance

In the fund space, the blockchain-focused Amplify Transformational Data Sharing ETF (BLOK) sank by 0.24% to $21.11. The Bitwise Crypto Industry Innovators ETF (BITQ), which focuses on pure-play crypto companies, dropped 1.11% to $7.13. Meanwhile, the Grayscale Bitcoin Trust (GBTC), which tracks the Bitcoin market price, rose by 0.41% to $17.28.

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