Crypto stocks slide as ether weakness weighs
25/07/2024 12:15
** Shares of cryptocurrency and blockchain-related companies
fall in premarket trade
** World's second largest cryptocurrency ether dropped as
much as 7% on Thursday amid broader market sell-off and failed
to get lift from this week's launch of the first U.S. ETF
tracking the currency
** First U.S. ETF tied to ether that started trading on
Tuesday failed to generate bounce in price as seen for spot
bitcoin ETFs launched earlier this year
** Bitcoin BTC= , the world's biggest cryptocurrency, set
to fall to near one-week low, last down 2.7% at $64,250, while
Ether ETH= falls ~6% to $3,177, set for worst day in almost 3
months
** Crypto exchange Coinbase Global COIN.O falls 1.5%,
while Blockchain farm operator Bitfarms Ltd BITF.O up 2.3%
** Crypto miners: Riot Platforms Inc RIOT.O , Marathon
Digital MARA.O , U.S.-listed shares of Hut 8 HUT.O , and Bit
Digital BTBT.O down 1.9%-2.5%
** Software firm and BTC buyer MicroStrategy MSTR.O loses
~3%
** BTC mining machine maker Canaan Inc CAN.O flat
** ProShares Bitcoin Strategy ETF BITO.P falls 2.3%
** BTC had risen ~53% YTD compared with a ~39% increase in
the MVIS CryptoCompare Digital Assets 100 Index .MVDA
(Reporting by Roshan Abraham)
((Roshan.abraham@thomsonreuters.com))