Crypto Companies Shares Fell More than Bitcoin in April
The shares of companies associated with cryptocurrencies, including mining firms, fell in April more than Bitcoin.
The price of BTC fell by 17.3% over the month, Ethereum sank by 16.9%, whereas the total market capitalization fell by 18%.
Against this background, the shares of the largest US crypto exchange Coinbase fell by more than 40%, and those of Bakkt by 38.1%.
The losses of companies from the mining industry were even higher: Riot Blockchain shares fell by 50.8%, whereas the shares of Marathon Digital fell by 45.3% and those of miner maker Canaan recorded a 35% drop in the stock price.
In April, the stock market as a whole resumed its downward trend. However, the Nasdaq Composite Technology Index pulled back from its mid-month peak by 22.2%.
