Blockchain, Crypto Equities Open Week With Double-Digit Declines

Source: Finbold

Equities related to blockchain and digital tokens slipped in premarket trade on Monday, attributed to the risk-off sentiment due to growing concerns about inflation and interest rates. MARA is down 19.10%, RIOT down 16.05%, and COIN down 22.20% premarket.

• The biggest declines were seen in Marathon Digital Holding, Riot Blockchain, and Coinbase, which saw double-digit drops.
• A different trend was seen among miners, with Bitfarm, HIVE Blockchain, and Core Scientific recording slight growth.
• The decline comes amid policy tightening by the Federal Reserve, as inflation has continued to climb.
• Market watchers are expecting another round of rate hikes, as the Fed seeks to tame inflation.
• Cryptocurrency assets recorded some $3-trillion worth of assets in November 2021, but this has since gone down to $1 trillion.