Why Cryptocurrency Stocks Were Hurting Today
To put it mildly, Tuesday was a day to forget for investors in many cryptocurrencies and the companies that concentrate on mining them. Competing assets are leaching the value of such investments, and many felt the pain on the second trading day of the week.
Among them was Marathon Digital Holdings (NASDAQ: MARA), which experienced a scary price swoon of over 14%. TeraWulf (NASDAQ: WULF) also took a slide, descending at over 10%. Coins and tokens weren't spared, with lately popular altcoin Bitcoin Cash (CRYPTO: BCH) turning south at a nearly 8% clip.
After retreating from a 16-year high late last week, the yield of the 10-year Treasury note has come roaring back. The rally started on Monday and extended into Tuesday, with Treasuries -- considered by many to be one of the safest investible assets in the world, if not the safest -- setting new peaks at over 4.8%.
Source Fool.com
