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,
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,
also hit a record high, according to FactSet data.
For other crypto-related companies, shares of Michael Saylor’s MicroStrategy Inc.
MSTR,
lost 25.6% to end at $219.05.
Mining company Riot Blockchain Inc.
RIOT,
shares closed 19.2% lower at $7.67. Shares of Marathon Digital Holdings Inc.
MARA,
lost 19.2% to $12.08. Another miner, Ebang International Holdings Inc.
EBON,
lost 6.1% to end at $0.81.
Overstock.com Inc.
OSTK,
‘s shares were down 4% to $33.54.
Shares of Block Inc.
SQ,
formally known as Square, tanked 12.8% to $83.89. Tesla Inc.
TSLA,
shares lost 9.7% to $787.11.
PayPal Holdings Inc.
PYPL,
declined 2.6% to $79.53. Nvidia Corp.
NVDA,
lost 9.2% to $169.50.
Advanced Micro Devices Inc.
AMD,
dropped 9.4% to $86.36 at Thursday close.
Among crypto funds, ProShares Bitcoin Strategy ETF
BITO,
went down 14% to $19.23 Thursday, while Valkyrie Bitcoin Strategy ETF
BTF,
was down 14% to $11.93. VanEck Bitcoin Strategy ETF
XBTF,
14% to $30.17.
Grayscale Bitcoin Trust
GBTC,
plunged 17% to $20.65.
Source: https://www.marketwatch.com/story/coinbase-shares-plunge-almost-80-from-november-high-amid-selloffs-of-crypto-stocks-and-funds-11652127659?siteid=yhoof2&yptr=yahoo