Introduction
The cryptocurrency market experienced a downturn during morning trading on Wednesday, with several major cryptocurrencies seeing significant declines.
Uniswap (UNI)
Uniswap (UNI) was the hardest hit, tumbling 5.42% to $5.67.
Cardano (ADA)
Cardano (ADA) shed 4.05% and was valued at 27 cents.
Solana (SOL)
Solana (SOL) fell by 4.04% to $23.05.
Polygon (MATIC)
Polygon (MATIC) declined by 4.04% and was priced at 62 cents.
Ripple (XRP)
Ripple (XRP) experienced a decline of 1.96% and was valued at 59 cents.
Dogecoin (DOGE)
Dogecoin (DOGE) fell by 2.92% and reached 7 cents.
Polkadot (DOT) and Ethereum (ETH)
Polkadot (DOT) saw a decline of 1.67%, reaching $4.71, while Ethereum (ETH) fell by 0.50% and was priced at $1,818.88.
Bitcoin (BTC)
Bitcoin (BTC) posted the smallest drop among major cryptocurrencies, with a 0.41% decline to $29,051.00.
Crypto-Related Company News
In crypto-related company news, Coinbase Global Inc. (COIN) saw a rise of 2.78% to $81.38, while MicroStrategy Inc. (MSTR) fell by 1.10% to $372.00. Riot Platforms Inc. (RIOT) experienced a decline of 3.10% and was valued at $13.28, and Marathon Digital Holdings Inc. (MARA) fell by 2.79% to $13.54.
Overstock.com Inc. (OSTK) saw a significant decline of 4.39% to $28.64. Block Inc. (SQ) had a marginal rise of 0.07% and reached $58.40, while Tesla Inc. (TSLA) sank slightly by 0.02% and was priced at $232.91.
PayPal Holdings Inc. (PYPL) climbed by 0.17% and was valued at $59.57, while Ebang International Holdings Inc. (EBON) experienced a decline of 4.74% to $7.43. NVIDIA Corp. (NVDA) saw a slight rise of 0.09% and reached $439.78, and Advanced Micro Devices Inc. (AMD) fell by 2.81% to $108.22.
Fund Space
In the fund space, the blockchain-focused Amplify Transformational Data Sharing ETF (BLOK) declined by 1.44% to $22.56. The Bitwise Crypto Industry Innovators ETF (BITQ), which focuses on pure-play crypto companies, dropped by 1.46% to $8.10. Grayscale Bitcoin Trust (GBTC), which tracks the Bitcoin market price, slid by 0.20% and was valued at $19.62.