The global crypto market cap is $ with a 24-hour volume of $. The price of Bitcoin is $20,088.33 and BTC market dominance is %. The price of Ethereum is $1,365.73 and ETH market dominance is %. The best performing cryptoasset sector is Deflationary, which gained 67%.
The Right Place to Buy, Earn, Exchange and Borrow against Your Crypto.
MicroStrategy leads crypto stocks losing only 2% more than Bitcoin throughout 2022.
Cover art/illustration via CryptoSlate
Bitcoin’s price is down roughly 56% since January but crypto-related stocks such as MicroStrategy, Riot Blockchain, Coinbase, and Hut8 Mining are down up to 74%.
The orange line in the chart below shows Bitcoin’s decline in 2022 as a percentage of the January price. The other lines represent major Bitcoin equities, none of which have had a good year in terms of stock price.
Coinbase reported a $1.1 billion loss in Q2 2022 as assets held on the exchange fell to just $96 million. Recently, the stock was downgraded to a SELL by Wells Fargo as “as rising competition and macro pressures will hurt the stock.” Coinbase, which uses the ticker COIN, was floated on Apr. 21 at $310 per share. As of Oct. 5, it is trading down 76% to just $72, while it is also down 71% since January.
Michael Saylor’s MicroStrategy is the best-performing crypto-related equity. The stock started the year at $576 but has fallen to $243, down 58% on the year. The stock hit yearly lows in July, trading at just $142. It rallied 150% to $361 in August; however, it has since dropped 30% despite announcements of further Bitcoin purchases.
Formerly Square, Block is down 62% since it opened the year at $164. It is currently trading at just $62, with insiders such as Alyssa Henry selling shares. According to an SEC filing, Henry sold 7% of their holdings for $1,715,491.
Some investors may see crypto stocks as a safer alternative to directly purchasing crypto while gaining exposure to Bitcoin’s price. Alternatively, those using financial instruments that do not allow crypto purchases rely on such stocks for crypto exposure.
Spot Bitcoin ETFs have been rejected repeatedly in the U.S. over the years, but some have started appearing elsewhere, such as in Canada and Europe.
While the U.S. Dollar is near all-time highs, the equities markets are struggling. The S&P 500 hit an all-time high on Jan. 4 but fell roughly 21%, erasing all gains made after November 2020. Crypto stocks have lost, on average, three times more than the S&P 500 throughout 2022.
Also known as Akiba, Liam is a journalist and editor of Blocklight at CryptoSlate. He believes that decentralized ledger technology has the potential to make widespread positive change. He predicts the next 10 years will bring in a dawn of a new age of technological innovation.
Directly from this Widget: the top CEXs + DEXs aggregated through Orion. No account, global access.
Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.
Commitment to Transparency: The author of this article is invested and/or has an interest in one or more assets discussed in this post. CryptoSlate does not endorse any project or asset that may be mentioned or linked to in this article. Please take that into consideration when evaluating the content within this article.
Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
Bitcoin is a consensus network that enables a new payment system and completely digital money. Learn more
Michael Saylor is the founder and principal shareholder of MicroStrategy. Learn More
Coinbase Global, Inc, branded Coinbase, is an American publicly traded company that operates a cryptocurrency exchange platform. Learn More
MicroStrategy (Nasdaq: MSTR) is a worldwide leader in enterprise analytics and mobility software. Learn More
Block, Inc is Square, Cash App, Spiral, TIDAL, TBD54566975, and our foundational teams such as Counsel, Finance, and People that provide guidance at the corporate level. Learn More
SWIFT Chief Innovation Officer Tom Zschach said that the innovation could help address CBDC’s need for interoperability with the existing financial system.
Cross & isolated margin pairs HNT/BUSD, HNT/USDT and spot pairs HNT/BTC, HNT/USDT, OOKI/BNB will be removed next week, while 18 new ones are already added.
Decentraland data per DappRadar is being questioned based on the low number of daily active users on the platform.
Ripple’s XRP is up 3.6% over the last 24 hours, continuing its impressive run over the last 30 days, according to CryptoSlate data.
Bitcoin set to reclaim safe haven narrative as it decouples from S&P 500, Ethereum losing NFT trading volumes to Solana, and much more in this edition of CryptoSlate Wrapped Daily.
Bitcoin is holding steady as rumors of banking collapse circulate — some observers see this as the start of cryptocurrencies “decoupling” from legacy finance.
XRP soared over 10% as court orders SEC to hand over Hinman document to Ripple Labs.
Hoskinson predicted that more wrapped Bitcoin would be on other blockchain networks in the next five years.
US citizens who had sent cryptocurrency to Tornado Cash but did not complete the mixing transaction before the sanctions can apply for a withdrawal license from the OFAC.
Google Cloud blockchain developer Sam Padilla showcased the latest update to Google Search which includes a real-time Merge countdown with merging pandas
Terra Classic’s come back is made all the more evident as recent price spikes now place it 26th biggest project by market cap.
An FTC report states that Meta’s Instagram facilitated 32% of scams reported on social media, while Facebook and WhatsApp were cited 26% and 9% of the time, respectively.
Anand Sithian and Carlton Greene talked about the sanctions on Tornado Cash and agreed that it could have certain implications for the future of DeFi.
A weekly recap of key Bitcoin metrics and the macro factors affecting its price performance in the market, published every weekend.
Got a story tip? Email [email protected]
Disclaimer: By using this website, you agree to our Terms and Conditions and Privacy Policy. CryptoSlate has no affiliation or relationship with any coin, business, project or event unless explicitly stated otherwise. CryptoSlate is only an informational website that provides news about coins, blockchain companies, blockchain products and blockchain events. None of the information you read on CryptoSlate should be taken as investment advice. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own diligence before making any investment decisions. CryptoSlate is not accountable, directly or indirectly, for any damage or loss incurred, alleged or otherwise, in connection to the use or reliance of any content you read on the site.
© 2022 CryptoSlate. All rights reserved. Terms | Privacy
Please add “[email protected]“ to your email whitelist.
Stay connected via
