CryptoBitcoinMajor Digital Currencies Post Gains, Cryptocurrency Market Sees Upward Trend

Major Digital Currencies Post Gains, Cryptocurrency Market Sees Upward Trend

In an overall positive trading session on Tuesday, the cryptocurrency market experienced a general uptrend among major digital currencies.

Polygon (MATICUSD) led the rally, registering a 1.54% growth to 53 cents, marking the most significant movement of all cryptocurrencies.

Other notable gainers included Dogecoin (DOGEUSD) and Cardano (ADAUSD), which saw increases of 1.17% and 0.96%, reaching values of 6 cents and 25 cents respectively. Solana (SOLUSD) and Uniswap (UNIUSD) also experienced growth, with Solana increasing by 0.81% to $19.86 and Uniswap by 0.78% to $4.42.

Bitcoin (BTCUSD), the largest cryptocurrency by market capitalization, also saw a modest rise of 0.70%, taking its value to $26,980.00. Ripple (XRPUSD) and Ethereum (ETHUSD) completed Tuesday’s list of gainers, with Ripple increasing by 0.70% to 51 cents and Ethereum ticking up by 0.05% to $1,638.81.

However, not all cryptocurrencies enjoyed a positive trajectory on Tuesday. Polkadot (DOTUSD) was the only major cryptocurrency to record a drop, decreasing by 0.32% to $4.10.

While cryptocurrencies had a mostly positive day, shares in companies related to the crypto sector experienced a downward trend on Tuesday. Coinbase (NASDAQ:COIN) Global Inc.’s shares fell by 3.62% to $78.66, while MicroStrategy Inc.’s shares declined by 1.50% to $335.52. Riot Platforms Inc.’s shares dropped by 3.03% to $10.60, and Marathon Digital Holdings Inc.’s shares slid down by 3.93% to $9.41.

Other companies also witnessed a decrease in their share prices. Overstock.com (NASDAQ:OSTK) Inc.’s shares fell by 2.40% to $18.28, Block Inc.’s shares dropped by 2.81% to $49.81, and Tesla (NASDAQ:TSLA) Inc.’s shares decreased by 1.32% to $261.79. PayPal Holdings Inc (NASDAQ:PYPL).’s shares fell by 1.63% to $61.91, Ebang International Holdings Inc.’s shares dipped by 0.53% to $7.50, NVIDIA Corp (NASDAQ:NVDA).’s shares dropped by 1.09% to $434.86, and Advanced Micro Devices (NASDAQ:AMD) Inc.’s shares declined by 1.42% to $100.92.

In the funds sector, the Amplify Transformational Data Sharing ETF, which focuses on blockchain technology, fell 1.12% to $20.80, and the Bitwise Crypto Industry Innovators ETF, which invests in pure-play crypto companies, shed 2.00% of its value to reach $7.07. However, the Grayscale Bitcoin Trust, which mirrors the market price of Bitcoin, climbed 1.14% to $19.45 on Tuesday.

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Andrew
Andrew
Self-taught investor with over 5 years of financial trading experience Author of numerous articles for hedge funds with over $5 billion in cumulative AUM and Worked with several global financial institutions. After finding success using his financial acumen to build an investment portfolio, Andrew began writing and editing articles about the cryptocurrency space for sites such as chaincryptocoins.com, ensuring readers were kept up to date on hot topics such as Bitcoin and The latest news on digital currencies and Ethereum.

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