Crypto Stocks Fell in Premarket Trading, with Coinbase Stock Dropping over 8%

Tiger Newspress2022-05-12

Crypto Stocks Fell in Premarket Trading, with Coinbase Stock Dropping over 8%.

Riot Blockchain, Marathon Digital, Block and Canaan fell between 1% and 7%.Bitcoin slumped below $27,000 Thursday for the first time in over 16 months, as cryptocurrency markets extended their losses amid fears over rising inflation and the collapse of a controversial stablecoin project.

The price of bitcoin plunged as low as $26,595.52 Thursday morning, according to Bitstamp data. That marks the first time bitcoin has sunk below the $27,000 level since Dec. 30, 2020.

Ether, the second-biggest digital currency, tanked to as low as $1,789 per coin. It’s the first time the token has fallen beneath the $2,000 mark since July 2021.

Ether was last down 23% at a price of $1,852.

Investors are fleeing from cryptocurrencies at a time when stock markets have plunged from the highs of the coronavirus pandemic on fears over soaring prices and a deteriorating economic outlook.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Tanyl
2022-05-12
Tanyl
It is seriously drop a lot
Tanyl
2022-05-12
Tanyl
It is seriously drop a lot
JCai
2022-05-12
JCai
K
moneytome
2022-05-12
moneytome
But crypto bounce back
Jingyogi
2022-05-12
Jingyogi
Fall of luna
Jeremysee
2022-05-12
Jeremysee
Ok

Leave a comment

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