Cryptocurrency Market Update

Large cryptocurrencies experienced mixed results during morning trading on Wednesday. The biggest move was seen by Uniswap (UNIUSD), which shed 5.04% and dropped to $6.30.

Among the gainers, Polygon (MATICUSD) led the way with a 0.68% climb to 69 cents.

However, four other currencies posted decreases. Dogecoin (DOGEUSD) slipped 1.00% to 8 cents, while Ripple (XRPUSD) slid 0.99% to 69 cents. Cardano (ADAUSD) and Solana (SOLUSD) also recorded declines, falling 0.49% to 31 cents and 0.43% to $23.42, respectively.

In addition to Polygon, three other cryptocurrencies saw increases. Bitcoin (BTCUSD) climbed 0.66% to $29,399.80, and Ethereum (ETHUSD) rose 0.12% to $1,851.64. Polkadot (DOTUSD), on the other hand, had a smaller increase of 0.09% and reached $5.13.

In crypto-related company news, Coinbase Global Inc. (COIN) saw its shares drop 1.21% to $93.01, while MicroStrategy Inc. (MSTR) declined 1.60% to $428.00. Riot Platforms Inc. (RIOT) shares rose 4.53% to $19.06, and Marathon Digital Holdings Inc. (MARA) rose 1.37% to $17.06.

Other notable movements in the industry included Overstock.com Inc. (OSTK) shedding 2.35% to $36.19, Block Inc. (SQ) dropping 3.18% to $76.26, and Tesla Inc. (TSLA) sliding 0.78% to $259.03. PayPal Holdings Inc. (PYPL) fell 1.97% to $74.04, while Ebang International Holdings Inc. (EBON) shares climbed 1.17% to $9.14. NVIDIA Corp. (NVDA) declined 2.72% to $452.42, and Advanced Micro Devices Inc. (AMD) dropped 3.35% to $113.66.

In the fund space, the Bitwise Crypto Industry Innovators ETF (BITQ), which focuses on pure-play crypto companies, climbed 0.41% to $9.83. The blockchain-focused Amplify Transformational Data Sharing ETF (BLOK) slid 0.35% to $25.56. Grayscale Bitcoin Trust (GBTC), which tracks the Bitcoin market price, rose 0.60% to $19.15.