The pre-market stock price of Coinbase Global Inc (NASDAQ: COIN), the largest cryptocurrency exchange in the United States, fell by 4%.
As many Bitcoin withdrawals were halted over the course of the last 24 hours, Binance announced on Monday, the global digital asset market printed red indexes. The data, however, indicates that leading cryptocurrency stocks may not have been the only ones to suffer from the withdrawal suspension.
Cryptocurrency Stocks Drop
Binance chose to suspend BTC withdrawals due to a rise in pending transactions since it was unable to pay miners enough to keep track of the transactions due to a lack of high enough payouts. The data shows that companies involved in blockchain and cryptocurrencies had a drop in pre-market trading on Monday. However, the price of Bitcoin fell below the $28K price threshold, dropping more than 3%.
The stock price of Coinbase Global Inc (NASDAQ: COIN), the largest crypto exchange in the US, fell 4% before the market opened. Its pre-market value was approximately $56.44. However, Coinbase recently defeated the U.S. Securities and Exchange Commission (SEC) in the first round.
Riot Platforms Inc.’s (NASDAQ: RIOT) price fell 6.5%, while Bitfarms Ltd.’s pre-market price fell 4.3%. However, the price of Marathon Digital Holdings Inc (NASDAQ: MARA) fell by 6.5% to $10.79.
Over the last day, the global market for digital assets fell by about 3%. The total market value is currently around $1.15 trillion. Its 24-hour trading volume is up 18% to $37.76 billion, though.
The price of Bitcoin, the largest cryptocurrency, has decreased by 3.58% over the past 24 hours. At the time of release, the average price of BTC is $27,869. Its $15.4 billion 24-hour trade volume has increased by 9%.
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