Shares of crypto-related companies and funds ended sharply lower Monday, with Coinbase’s shares finishing at the lowest level in history, as both bitcoin and major U.S. stock indexes finished at multi-month lows.
Shares of Coinbase Global Inc. COIN, -19.50% plunged 19.5% to end at $83.51 Monday, while booking the worst single-day decline in history, according to Dow Jones market data. The crypto exchange’s shares fell more than 77% from the all-time high of $368.90 set in November, when bitcoin BTCUSD, +1.00% also hit a record high, according to FactSet data.
Read: Bitcoin falls towards $30,000. Investors highlight support at $28,800, eye the stock market for further downside
For other crypto-related companies, shares of Michael Saylor’s MicroStrategy Inc. MSTR, -25.55% lost 25.6% to end at $219.05.
Mining company Riot Blockchain Inc. RIOT, -19.18% shares closed 19.2% lower at $7.67. Shares of Marathon Digital Holdings Inc. MARA, -19.20% lost 19.2% to $12.08. Another miner, Ebang International Holdings Inc. EBON, -6.08% lost 6.1% to end at $0.81.
Overstock.com Inc. OSTK, -4.03% ‘s shares were down 4% to $33.54.
Shares of Block Inc. SQ, -12.82% formally known as Square, tanked 12.8% to $83.89. Tesla Inc. TSLA, -9.07%’s shares lost 9.7% to $787.11.
PayPal Holdings Inc. PYPL, -2.63% declined 2.6% to $79.53. Nvidia Corp. NVDA, -9.24% lost 9.2% to $169.50.
Advanced Micro Devices Inc. AMD, -9.42% dropped 9.4% to $86.36 at Thursday close.
Among crypto funds, ProShares Bitcoin Strategy ETF BITO, -14.11% went down 14% to $19.23 Thursday, while Valkyrie Bitcoin Strategy ETF BTF, -14.11% was down 14% to $11.93. VanEck Bitcoin Strategy ETF XBTF, -14.03% 14% to $30.17.
Grayscale Bitcoin Trust GBTC, -16.45% plunged 17% to $20.65.
View Article Origin Here
