Cryptocurrency market slides as Bitcoin, Ether, and major coins experience dip
The cryptocurrency market saw a downturn at the start of the week, with Bitcoin trading at $ 22,905, a decrease of 0.5 percent from the previous day according to TradingView. Ethereum, the second largest cryptocurrency, experienced a 0.1 percent drop to $ 1,635.
Binance’s BNB token declined by 0.2 percent, Ripple’s XRP lost 0.8 percent, and Solana’s SOL saw a 2 percent decrease. The stock of Coinbase, a major cryptocurrency exchange, dropped 4.6 percent to trade around $ 71, according to Nasdaq.
Meanwhile, shares of Silvergate declined about 8 percent to just under $ 18. Block saw a drop of around 3 percent to trade below $ 82, while MicroStrategy experienced a 3 percent decrease to $ 275.
Grayscale’s Bitcoin Trust (GBTC) saw its discount widen at the end of last week, after having previously shortened to 40 percent on February 2. According to The Block, the fund closed the week at a discount of approximately 42 percent to the value of the Bitcoin held within it. Read full here
