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Cryptocurrency market sees uptrend as major digital currencies record gains

Published Sep 19, 2023 08:22PM ET
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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.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Cryptocurrency market sees uptrend as major digital currencies record gains
 

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Nasren Sahranshen
Nasren Sahranshen Sep 19, 2023 8:35PM ET
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