The post Crypto stocks ending 2023 on a sour note – Cryptopolitan appeared on BitcoinEthereumNews.com.

As 2023 draws to a close, the crypto market is witnessing a downturn in the performance of crypto-related stocks. Investors are rushing to cash in their profits on the final trading day of the year, leading to significant dips in the prices of various crypto assets. Crypto’s Volatile Year Crypto exchange Coinbase and business intelligence firm MicroStrategy are among the notable casualties of this year’s crypto rollercoaster. Both companies experienced declines, with Coinbase’s stock price falling by 7.4%, while MicroStrategy dipped by 5.4% on the last trading day of the year. Mining companies also took a hit, with Marathon Digital, Hut 8 Corp, and Riot Blockchain all trading in the double digits, with Hut 8 leading the decline at a staggering 18% drop. Despite this decline, Hut 8 has had a remarkable year, with its shares surging by more than 1,500%. This surge was primarily fueled by the company’s merger with US Bitcoin Corp in November, an event described as crypto’s “largest mergers and acquisitions transaction.” Marathon Digital, another prominent mining company, is on track to end the year with gains exceeding 615%. The fourth quarter witnessed a significant rally in Marathon Digital’s stock price, contributing to its remarkable performance in 2023. However, the company’s 11-day winning streak is at risk of ending if it closes lower on the final trading day of the year. Riot Blockchain also saw substantial growth in 2023, with gains of approximately 360%. Despite hitting its high point of the year in July, reaching around $20 per share, Riot’s stock experienced fluctuations, settling around $9 in September and October. As of the last trading day of the year, Riot was trading at approximately $15 per share. The company announced expansion plans earlier in the month, involving the addition of 66,000 machines, aimed at increasing its…

---

Filed under: News - @ December 29, 2023 11:24 pm