Russian President Vladimir Putin claims U.S. economic policies are diminishing the dollar’s global dominance. “Last year the share of payments for Russian exports in the unfriendly states’ so-called toxic currencies was halved,” he revealed, labeling the U.S.’s trillion trade deficit as modern neocolonialism and emphasizing Russia’s shift towards using the ruble and local currencies […]
Bitcoin News
NFT Sales Dip Again: Ethereum Leads as Market Declines by 7.03%
Over the past week, non-fungible token (NFT) sales have declined again, slipping 7.03% compared to the previous week. During this period, 2.3 million in sales were recorded, with Ethereum-based NFTs taking the lead. 7-Day NFT Sales Slide 7.03% This week witnessed another seven days of subdued NFT sales, with Ethereum maintaining the lead and Bitcoin […]
Bitcoin News
This Week’s Crypto Gainers: Worldcoin Leads Surge, ZBC and SEI See Largest Declines
Although last week saw some progress compared to the previous one, bitcoin has only experienced a slight 2% increase, whereas ethereum has incurred a 1.6% loss during the same period. Among alternative cryptocurrencies, worldcoin (WLD) emerged as the standout performer, surging by 32.4% against the U.S. dollar, while render (RNDR) experienced a notable spike of […]
Bitcoin News
Fidelity Digital Assets Study: Bitcoin’s Volatility Declines as It Grows, Echoing Historical Asset Trends
A new study by Fidelity Digital Assets reveals that as bitcoin matures, its volatility is decreasing, making it less volatile than several S&P 500 stocks. “As the asset class matures and its total market cap grows, the inflow of capital is expected to have a smaller impact because it will be flowing into a larger […]
Bitcoin News
Defi’s TVL Declines by $10 Billion in April Despite Growth in Bitcoin and Newer Blockchains
The total value locked (TVL) in decentralized applications (defi) experienced a 7% decrease, dropping billion in April, with defi’s ecosystem ending the month at 8.6 billion despite a widespread outflow of funds from several blockchains, such as a significant drop in Avalance and Solana. Despite the overall downtrend, Bitcoin, Base (a Layer two blockchain […]
Bitcoin News
NFT Sales Dip Over 31% in April; Ethereum, Solana Experience Sharp Declines
Sales of non-fungible tokens (NFTs) experienced a 31.26% decline in April from the revenues recorded in March. Last month, statistics show that NFT transactions across several markets totaled approximately .15 billion in sales. NFT Revenues Shrink in April, Certain Bitcoin Collections Buck the Trend As April concluded and May commenced, data reveals that NFT sales […]
Bitcoin News
Amid a Week of Severe Crypto Lows, TON and ONDO Record Gains Despite Broad Market Declines
The past week has not been favorable for the majority of cryptocurrency assets, with only four specific digital currencies recording gains. This week, ONDO appreciated by 13.2%, TON increased by 11.3%, PENDLE grew by 6%, and LEO saw a slight uptick of 0.5%. Market Update: A Tough Week for Crypto With Few Standouts The landscape […]
Bitcoin News
As Bitcoin Hits New Highs, Nasdaq-Listed Miners Face Unexpected Declines
Despite bitcoin reaching another all-time peak on Monday, publicly traded mining stocks commenced the day with percentage declines. Stock linked to companies such as Marathon, Cleanspark, Riot, and various others have diminished in value compared to the U.S. dollar, even as bitcoin celebrates fresh price milestones. Mining Stocks Tumble on Nasdaq Nasdaq-listed bitcoin (BTC) miners […]
Bitcoin News
BEAM and KAS Rise This Week Snagging Double-Digit Gains; XMR, FXS, and RON Face Sharp Declines
In the past week, bitcoin has risen over 10% and ethereum has seen a growth of more than 7%. Meanwhile, several cryptocurrency assets have posted significant double-digit increases. Notably, beam (BEAM) experienced a surge of over 49%, and kaspa (KAS) enjoyed a 37% uptick in its value within the same timeframe. 7-Day Crypto Gainers and […]
Bitcoin News
Across-the-Board Crypto Stock Declines Erode Earlier Profit Streaks
Although spot bitcoin exchange-traded funds saw substantial trading activity on Thursday and Friday, publicly-listed crypto companies faced a different fate, with several equities experiencing significant losses when the market closed on Friday. For instance, Marathon Digital Holdings’ shares plummeted by over 15%, while Coinbase Global’s stock registered a loss of more than 7% during trading sessions before the weekend.
Extensive Range of Publicly-Listed Crypto Firms Grapple With Share Declines
The 11 spot bitcoin exchange-traded funds (ETFs) have collectively achieved .65 billion in trading volume since their listing. However, despite the strong trading activity, bitcoin’s spot market value experienced a 7% decline against the U.S. dollar during Friday’s trading sessions.
Additionally, publicly-listed cryptocurrency companies also faced losses, with numerous firms’ shares delivering lackluster performances on Jan. 12th. On Friday, Coinbase (Nasdaq: COIN)) experienced a 7.35% decline, while Canaan (Nasdaq: CAN) faced an 8.92% drop against the U.S. dollar.
Jack Dorsey’s Block Inc. (Nasdaq: SQ) also saw a moderate 2% decrease, whereas Michael Saylor’s Microstrategy Inc. (Nasdaq: MSTR) took a substantial hit with a 9.45% loss. Despite the strong trading volumes, the new ETFs also struggled against the greenback during Friday’s trading sessions.
Bitwise’s BITB witnessed a decline of 6.19%, while the Fidelity Wise Origin Bitcoin Fund (FBTC) experienced a similar 6.19% loss as well. Additionally, Blackrock’s IBIT registered a 6.23% decrease, and Valkyrie’s BRRR saw a 6.17% dip in value.
Publicly listed bitcoin miners faced substantial losses, with Marathon (Nasdaq: MARA) witnessing a significant 15.27% decline and Bitfarms (Nasdaq: BITF) experiencing a 6.15% reduction in value. Bit Digital (Nasdaq: BTBT) also struggled, recording a 7.59% loss against the dollar, while Iris Energy (Nasdaq: IREN) bore the brunt of a 14.74% hit to its valuation.
Cleanspark (Nasdaq: CLSK) didn’t fare well either losing 12.10% on Friday. In retrospect, it proved to be a challenging day for publicly-listed crypto firms and bitcoin, as noticeable losses were evident throughout.
Although the 24-hour statistics may appear lackluster, a deeper analysis of the six-month and twelve-month market data unveils a contrasting narrative, with the majority of the mentioned companies achieving double to triple-digit gains in the past year.
What do you think about the crypto company stocks that saw losses on Friday? Do you expect the market to rebound? Share your thoughts and opinions about this subject in the comments section below.