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Cryptocurrency Market Update

1 Mins read

Introduction

In morning trading on Wednesday, several large cryptocurrencies experienced a downturn, while one saw a positive increase. Cardano (ADAUSD) recorded the largest decline, falling by 2.88% to reach 53 cents. Meanwhile, seven additional currencies also experienced decreases. Polkadot (DOTUSD) dropped by 2.72% to $7.37, Ethereum (ETHUSD) shed 2.49% to $2,540.98, and Bitcoin (BTCUSD) decreased by 2.49% to $42,493.30. Ripple (XRPUSD) was down by 1.78% to 57 cents, and Polygon (MATICUSD) fell by 1.64% to 84 cents. Dogecoin (DOGEUSD) and Uniswap (UNIUSD) rounded out the declines for the day, dropping by 1.49% to 8 cents and 1.23% to $6.80, respectively.

Positive Movement

On the other hand, Solana (SOLUSD) was the only cryptocurrency among the largest ones to experience an increase, rising by 2.36% to reach $100.74.

Company News

In terms of crypto-related company news, Coinbase Global Inc. (COIN) saw a decline of 3.28% to $129.49, while MicroStrategy Inc. (MSTR) dropped by 0.77% to $478.43. Riot Platforms Inc. (RIOT) shares declined by 4.43% to $10.79, and Marathon Digital Holdings Inc. (MARA) declined by 3.26% to $17.20. Block Inc. (SQ) saw a decline of 4.68% to $62.11, and Tesla Inc. (TSLA) dropped by 2.74% to $213.88. PayPal Holdings Inc. (PYPL) shed 3.28% to $56.53, while Ebang International Holdings Inc. (EBON) shares fell by 4.33% to $9.06. NVIDIA Corp. (NVDA) experienced a decrease of 2.76% to $548.24, and Advanced Micro Devices Inc. (AMD) shed 2.64% to $154.55.

Crypto-Focused Funds

In the fund space, the blockchain-focused Amplify Transformational Data Sharing ETF (BLOK) fell by 1.93% to $26.45. The Bitwise Crypto Industry Innovators ETF (BITQ), which focuses on pure-play crypto companies, dropped by 3.48% to $8.79.

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