Cryptocurrency mining equities are among laggards in Friday’s trading session.Read MoreCoinDesk
Cryptocurrency-related stocks are trading significantly lower in Friday’s premarket session as bitcoin begins to lose bullish momentum. The cryptocurrency was recently down 8.6% to about $21,500.
Marathon Digital (MARA) and Riot Blockchain (RIOT) were leading the plunge in crypto stocks on Friday, with both sliding by double-digit percentages.
Shares of crypto exchange Coinbase (COIN) were down about 7% to $77.81, and shares of MicroStrategy (MSTR), a software company that holds a large amount of bitcoin, were down 8.2% to $297.68.
Meanwhile, the Nasdaq100 was down 0.82%, and the S&P 500 was 0.68% lower.
Friday’s market lull comes after strong performance in equities since July 17, with the Nasdaq rising by 21% since that date. And Coinbase’s stock has performed well this month, as the shares are up 57% in August.
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