Shares of Coinbase Global (NASDAQ: COIN) dropped by as much as 10.4% in trading on Monday as investors speculated that interest rates would stay higher for longer than previously expected. Shares ended the session down 9.2%.

The common perception is that lower rates help the crypto industry. Low rates for safe, interest-bearing investments push more investors into riskier assets, and crypto falls in the high-risk category.

Major crypto tokens often trade correlated to growth stocks, so Monday's reaction makes sense when you think of it as simply a trading move.

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Source Fool.com