Cointime

Cointime

Download App
iOS & Android

Crypto Stocks, Bitcoin Miners Sell-Off as Profit-Taking Caps Explosive Year-End

Validated Individual Expert

Bitcoin slipped below $42,000 on Friday, stalling below its yearly high.

Shares of U.S.-listed cryptocurrency-related companies sold off heavily on Friday morning as investors took profit on the last trading day of the year after an explosive rally in 2023.

Crypto exchange Coinbase (COIN) declined 8% during the early hours of Friday, while the shares of relentless bitcoin hoarder MicroStrategy, with nearly $6 billion in BTC in its treasury, dropped nearly 7%.

Nasdaq-listed bitcoin miners Marathon Digital Holdings (MARA) and Riot Platforms (RIOT) suffered even steeper losses ranging over 10%. Smaller public miners CleanSpark (CLSK) and Hut 8 (HUT) also fell nearly 20%.

The sell-off was perhaps buoyed by investors locking in profits for 2023, capping an explosive year for the beaten-down asset class as bitcoin's price rally stuck below its yearly highs ahead of an expected spot-based ETF approval in the U.S.

BTC was changing hands slightly below $42,000, lower than its near-$45,000 local top recorded in early December but up 155% this year.

BTC
Comments

All Comments

Recommended for you

  • Cointime May 4th News Express

    1. Hong Kong Bitcoin Spot ETF has held 4,218 BTC since its listing three days ago

  • Blockchain Asset Management announces launch of a dedicated blockchain fund for accredited investors

    Blockchain Asset Management, a cryptocurrency fund with a scale of $100 million, announced the launch of an exclusive blockchain fund for qualified investors. The specific amount of funds raised by the fund has not been disclosed yet, but it is said to have reached "eight figures", which means it is in the tens of millions of dollars. In addition, the investment threshold for the new fund is $100,000, and all investors are required to meet the approved standards (annual income exceeding $200,000, net assets exceeding $1 million).

  • Renault's BWT Alpine F1 Team announces partnership with ApeCoinDAO

    The BWT Alpine F1 team under Renault announced a partnership with ApeCoinDAO on X platform, which will introduce APE into the Alpine F1 ecosystem and collaborate with global token holders to launch peripheral products and digital assets inspired by the first ApeCoin. It is reported that according to the cooperation between the two parties, in the future, BAYC NFTs may be able to wear equipment and clothing with the Alpine team logo.

  • BTC breaks through $63,000

    The market shows BTC has broken through $63,000 and is currently trading at $63,014.9, with a daily increase of 6.11%. The market is volatile, so please exercise caution in risk management.

  • The total gas consumption on the Base chain exceeds 10,000 ETH

    According to the blockchain analysis platform Dune Analytics, the total gas consumption on the Base chain has exceeded 10,000 ETH, reaching 10,839.5062 ETH at the time of writing (equivalent to over $33.6 million at current prices). The average gas usage amount is about $0.1754 per transaction (0.000059661 ETH), and the total number of blocks has reached 13.41 million, with an average transaction volume of about 14.63 transactions per block. In addition, the data shows that the total transaction volume on the Base chain has exceeded 196.2 million, with over 8.366 million users and over 184 million user transactions at the time of writing. Furthermore, the total number of contracts created on the Base chain has exceeded 64 million, reaching 64,056,573 in the current period.

  • A wallet received 2,000 ETH from Alemeda/FTX

    As monitored by The Data Nerd, 6 hours ago, wallet 0xaEa received 2,000 ETH (approximately $6.23 million) from Alemeda/FTX. Within a week, it received a total of 8,000 ETH (approximately $24.71 million) from Alameda and deposited 6,000 ETH into Binance.

  • A single transaction with a transaction fee of up to 1.5 BTC appeared on the Bitcoin chain

    According to on-chain data tracking service monitoring , there has been a single transaction on the Bitcoin network with a transaction fee as high as 1.5 BTC, worth about $100,254. It is reported that the sender of the transaction is an address starting with "bc1p4n" and the recipient is an address starting with "bc1pqv".

  • 2 wallets deposited 211 billion SHIB into Coinbase within 10 hours

    According to The Data Nerd's monitoring, within 10 hours, 2 wallets (with the same amount of SHIB) deposited a total of 211 billion SHIB (about 5.16 million US dollars) into Coinbase. These wallets accumulated these SHIBs last week, and if sold at the current price, it would cause a small loss (about 120,000 US dollars).

  • USDT issuance on TON chain reaches $100 million

    According to official data, the issuance and circulation of USDT on the TON chain has reached 100 million US dollars, making TON the fastest-growing blockchain for Tether USDT issuance in Web3 history.

  • Cointime MAY 1 News Express

    1.Celsius Network destroys 94% of total supply of CEL, worth over $89 million2.USDC Treasury destroyed more than 200 million USDC3.Pike was suspected of being hacked and lost 479 ETH4.Fantom launches $6.5 million development fund, betting on safer memecoins5.Yesterday, the U.S. spot Bitcoin ETF had a net outflow of $162 million6.The balance of Binance Bitcoin wallet increased by 6249.36 in the past 24 hours, and 15565.89 inflows in the past 7 days7.In April, NFT sales on the Bitcoin chain exceeded US$685 million, setting the third highest monthly record in history8.On-chain content distribution agreement Metale Protocol completes additional $2 million in seed round financing9.A whale deposited 1,140 MKR into Coinbase, losing about $1.1 million10.The Bitcoin stablecoin project, bitSmiley, goes live with its Alphanet V1, marking its debut deployment on the Bitcoin Layer 2 network, Bitlayer.

Daily Must-Read

Popular Activities

Delysium $AGI & AI Private Yacht Party

Delysium $AGI & AI Private Yacht Party

March 27 - March 27
Seoul

Popular Tags

Cointime
News
Contents
RSS
Company