Other crypto-exposed stocks, including Galaxy Digital (GLXY) and MicroStrategy (MSTR), held up, with Galaxy adding 0.6% in Toronto, and MSTR losing 1%. Crypto miners fell. Cipher Mining (CIFR), Hive Blockchain (HIVE), Hut 8 (HUT) and Marathon Digital (MARA) all dropped at least 3%.
The race to offer customers little or no fees on trading continues and could add to competitive pressures for exchanges. Binance.US said Wednesday it will offer zero-fee bitcoin trading on its platform as it seeks to attract more users.
Coinbase will continue to face headwinds in the current crypto downturn, especially in light of Celsius and Babel Finance’s struggles, Mark Palmer, an equity research analyst at BTIG told clients in a note Wednesday. Palmer sees Coinbase being able to weather the storm given its larger size and being well capitalized.
“While we are not at all dismissive of the impact of the current crypto market downturn, we also believe any notion that COIN would be unable to survive this...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...