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NEW YORK – The cryptocurrency market saw a notable slowdown today, with several major digital currencies posting losses. was at the forefront of this decline, with a drop of 4.13%. Other cryptocurrencies such as and Polygon also saw declines, trading at $56.29 and $0.82, respectively.
The downtrend extended to various altcoins, dropping it by 3.68%, by 2.80%, by 2.10%, and by suffering a slight loss of 1.23%. Despite the general market collapse, some counter-trends have been observed in the space. The managed to reverse the trend with a rise of 3.10%, while the , the leading cryptocurrency in terms of market capitalization, saw a marginal increase of 0.13%.
The impact of the performance of the cryptocurrency market was also reflected in related values. Coinbase Global (NASDAQ:), a major cryptocurrency exchange, saw its shares fall 1.19%. Similarly, MicroStrategy, known for its large bitcoin holdings, fell 0.24%. Other cryptocurrency-focused companies, such as Riot Platforms (NASDAQ:) and Marathon Digital (NASDAQ:) Holdings, also suffered declines of 1.67% and 1.61% respectively.
Contrary to the general negative sentiment, Block Inc, formerly known as Square (NYSE:) and led by Jack Dorsey, co-founder of Twitter (NYSE:), saw its shares rise 1.08%. However, not all tech-related stocks performed well: shares of Tesla (NASDAQ:) fell 1.61%. Additionally, PayPal (NASDAQ:) Holdings saw a decline of 0.46%, shares of NVIDIA Corp (NASDAQ:) fell slightly by 0.31%, and Amplify ETF saw a decline of 0.43%.
Today’s market moves highlight the volatile nature of cryptocurrencies and related stocks, with investors seeing gains and losses across the sector.
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