Ether, Polkadot slide with equities as Silvergate surrenders Monday's gains

Business•January 24, 2023, 4:57PM EST
GoogleMake us preferred
Ether, Polkadot slide with equities as Silvergate surrenders Monday's gains

Quick Take

  • Bitcoin continues to trade around $23,000, relatively flat throughout the day.
  • Ether slid 1.3%, while Polkadot’s DOT dropped 2.6%. 
  • Silvergate shed 10%, and Coinbase dropped 4.3%.  
Advertisement

Crypto prices were relatively steady, while ether and DOT dipped. Silvergate sank as equities were in the red. 

Bitcoin continues to trade around $23,000, relatively flat throughout the day, according to TradingView data. 

BTCUSD chart by TradingView

Ether slid around 1% to $1,614 by 4:25 p.m. EST, and Polkadot's DOT dropped 2.6% in the same period. 

ETHUSD chart by TradingView

Crypto stocks and structured products

Silvergate shed 11% to around $14.27, according to Nasdaq data, having gained 17% during Monday's session.

Coinbase dropped 4.3% to $53.56, and Block and MicroStrategy fell about 1%. 

Grayscale's premier fund, the Grayscale bitcoin trust (GBTC), fell 2.5% to $11.97. Shares in the fund now trade at a discount of 41.5% to the value of the bitcoin in the fund, according to The Block data.

Expand Chart