2021-09-24 08:00:00

Why Bitcoin-Related And Ethereum-Related Stocks Are Falling Today

Shares of crypto-related stocks, including Marathon Digital Holdings Inc (NASDAQ: MARA) Riot Blockchain Inc and Coinbase Global, Inc. (NASDAQ: COIN) are trading lower amid a decrease in the price of Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH).

Bitcoin and other cryptocurrencies are trading lower Friday morning after China’s Central Bank banned all crypto transactions and vowed to stop illegal crypto mining.

Bitcoin is trading 5.7% lower at around $41,138 Friday morning.

Ethereum is trading 8.9% lower at around $2,790 Friday morning.

Dogecoin is trading 7.7% lower at around $0.20 Friday morning.

Marathon Digital focuses on mining digital assets. It owns crypto-currency mining machines and a data center to mine digital assets. The company operates in the digital currency blockchain segment and its cryptocurrency machines are located in Canada.

Marathon Digital is trading lower by 7.4% at $34.90 per share.

Riot Blockchain is focused on building, supporting and operating blockchain technologies. The company’s portfolio consists of Verady, Tesspay, Coinsquare and others.

Riot Blockchain is trading lower by 7.7% at $27.12 per share.

Coinbase Global, Inc. provides financial infrastructure and technology for the cryptoeconomy.

Coinbase is trading lower by 3.75% at $228.53 per share.

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