Why Bitcoin- And Ethereum-Related Stocks Are Falling Today | Benzinga
Cryptocurrency-related stocks, including Marathon Digital Holdings Inc (NASDAQ:MARA), Riot Blockchain Inc (NASDAQ:RIOT) and Coinbase Global Inc (NASDAQ:COIN), are trading lower amid a decrease in the price of Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH).
Marathon Digital is focused on mining digital assets. It owns cryptocurrency mining machines and a data center to mine the digital assets. The stock was down 10.60% at $43.89 at publication time.
Riot Blockchain is focused on building, supporting and operating blockchain technologies. The stock was down 9.49% at $29.83 at publication time.
Coinbase is a provider of end-to-end financial infrastructure and technology for the crypto-economy. The stock was down 7.36% at $263.76 at publication time.
Related Link: Cathie Wood Trims Another $49.4M From Coinbase Stake And Buys More Square Shares Amid Crypto Enthusiasm
Shares of several companies in the broader technology sector are also trading lower on continued volatility amid increasing omicron variant concerns.
BTC, ETH Price Action: At publication time, Bitcoin was down 3.14% at $54,969 over a 24-hour period and Ethereum was down 3.51% at $4,343.96 over a 24-hour period.
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