In a day marked by a general downturn in the cryptocurrency market, Solana (SOLUSD) was the only major digital currency to post gains on Wednesday. The cryptocurrency posted a 6.89% gain, bucking the trend of other major coins such as Ripple (XRPUSD), Bitcoin (BTCUSD), Ethereum (ETHUSD) and others, which saw their values decline.
Dogecoin (DOGEUSD) led the decline, falling by 2.14%, while other major cryptocurrencies such as Polkadot (DOTUSD), Cardano (ADAUSD), Uniswap (UNIUSD), Ethereum (ETHUSD), Polygon (MATICUSD), Ripple (XRPUSD) and Bitcoin (BTCUSD) also saw their values drop.
The performance of crypto-related companies was mixed. Coinbase (NASDAQ:COIN) Global, a leading cryptocurrency exchange, saw a slight increase in its stock value. On the other hand, MicroStrategy, Marathon Digital (NASDAQ:MARA) Holdings, Overstock.com (NASDAQ:OSTK) and Block Inc. saw their share prices fall. Meanwhile, shares of Riot Platforms (NASDAQ:RIOT) and Ebang International Holdings remained stable. Other technology companies involved in the crypto space such as PayPal (NASDAQ:PYPL) Holdings, NVIDIA Corp (NASDAQ:NVDA) and Advanced Micro Devices (NASDAQ:AMD) posted gains.
As for the ETF sector, the Amplify Transformational Data Sharing ETF and the Bitwise Crypto Industry Innovators ETF saw slight declines. However, the Grayscale Bitcoin Trust managed to gain marginally. This information was generated using data from Dow Jones and FactSet by Automated Insights.
