Why Bitcoin- And Ethereum-Related Stocks Are Sliding

Cryptocurrency-related stocks, including Coinbase Global Inc COIN, Marathon Digital Holdings Inc MARA and Riot Blockchain Inc RIOT are trading lower Tuesday amid a decrease in crypto prices, led by Bitcoin BTC/USD and Ethereum ETH/USD.

The crypto markets have been tracking Nasdaq performance closely over the last few months. The Nasdaq is leading the markets lower Tuesday as concerns over future Fed rate hikes have weighed on growth stocks.

Coinbase is the leading cryptocurrency exchange platform in the United States. The stock was down 4.64% at $128.97 at time of publication, according to data from Benzinga Pro.

Marathon Digital is focused on mining digital assets. The company owns cryptocurrency mining machines and a data center to mine the digital assets. Marathon Digital shares were down 6.04% at $17.59 at press time.

Riot Blockchain is focused on building, supporting and operating blockchain technologies. The stock was down 6.1% at $11.30 at time of publication.

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$BTC, $ETH Price Action: Bitcoin was down 1.06% over a 24-hour period at $38,756 at press time. It's down 6.58% over the last week. Ethereum was down 0.46% over a 24-hour period and down more than 8% over the last week at $2,865.31 at press time.

Photo: EivindPedersen from Pixabay.