In the U.S. stock market, there is a special situation where cryptocurrency stocks are declining, with Coinbase falling more than 5%.
Cryptocurrency stocks are down, with Canaan dropping nearly 6% and Coinbase falling over 5%. Ethereum outperforms Bitcoin, as people speculate that US regulatory agencies may approve a spot Ethereum ETF. Ethereum has risen 28% year-to-date, while Bitcoin has increased by 21%.
Zhitong App learned that on Wednesday, cryptocurrency stocks fell. As of the time of publication, Canaan (CAN.US) dropped nearly 6%, Coinbase (COIN.US) fell over 5%, Riot Platforms (RIOT.US), Bit Digital (BTBT.US), MicroStrategy (MSTR.US), and Marathon Digital (MARA.US) all fell over 4%. On the news front, the performance of the second largest cryptocurrency, Ethereum, outperformed Bitcoin. Part of the reason is speculation that U.S. regulatory agencies may approve a spot Ethereum ETF, which would boost demand. So far this year, Ethereum has risen by 28%, while Bitcoin has risen by 21%.