Why Bitcoin- And Ethereum-Related Stocks Are Falling Today

Shares of several cryptocurrency-related companies, including Coinbase Global Inc COIN, Marathon Digital Holdings Inc MARA and Riot Blockchain Inc RIOT, are trading lower in sympathy with the price of Bitcoin BTC/USD and Ethereum ETH/USD. 

The rise in US Treasury yields has also pressured growth sectors. The 10-year US Treasury yield reached a high of 1.84% on Tuesday at the time of publication.

Coinbase is a provider of end-to-end financial infrastructure and technology for the crypto-economy. The stock was down 2.9% at $223.30 at publication time.

Marathon Digital is focused on mining digital assets. It owns cryptocurrency mining machines and a data center to mine digital assets. Shares were down 5.4% at $27.05 at publication time.

Riot Blockchain is focused on building, supporting and operating blockchain technologies. The stock was down 6.2% at $19.40 at publication time.

BTC, ETH Price Action: At publication time, Bitcoin was down 2% at $41,479 and Ethereum was down 3.7% at $3,111.