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.