Canaan Inc. (CAN) saw its shares plummet by 8.94% during the intraday trading session on Monday. The sharp decline reflects heightened volatility in the crypto sector, with the stock under significant selling pressure.
The downturn aligns with a broader sell-off in crypto-related stocks, driven by falling Bitcoin and Ethereum prices. Bitcoin extended its losses after its steepest monthly decline since the 2021 crypto crash, while Ethereum also saw significant drops. This renewed risk aversion has led investors to exit both stocks and digital assets, impacting crypto-linked equities like Canaan Inc.
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