The crypto industry has seen a lot of volatility over the past year, and this volatility has extended to companies in the space as well. Many crypto stocks have seen significant declines in their stock prices over the past year, and the companies we discussed earlier are no exception.
Crypto stocks over the last year:
Voyager -99.7%
Silvergate -90.8%
Marathon Digital -83.1%
Coinbase -82.3%
HIVE Blockchain -81.3%
MicroStrategy -63.9%— Genevieve Roch-Decter, CFA (@GRDecter) January 10, 2023
Voyager Digital
Voyager Digital (Voyager) has been one of the hardest-hit companies in the crypto space. The company’s stock price has fallen by 99.7% over the past year, making it one of the worst-performing stocks in the industry.
Voyager’s decline has been attributed to several factors, including a decline in overall crypto prices and increased competition in the space.
Silvergate Capital
Silvergate Capital (Silvergate) is another company that has seen a significant decline in its stock price over the past year.
The company, which provides banking services to the crypto industry, has seen its stock price fall by 90.8%. Despite the decline, Silvergate has managed to maintain a steady stream of revenue from its banking services and reported solid growth in its crypto-related deposit balances.
Marathon Digital Holdings
Marathon Digital Holdings (Marathon) has also seen a significant decline in its stock price over the past year.
The company, which operates a Bitcoin mining business, has seen its stock price fall by 83.1%. The decline in the price of Bitcoin is one of the main reasons for Marathon’s stock performance, as the mining business is heavily dependent on the price of Bitcoin.
Coinbase
Coinbase Global Inc (Coinbase) is a well-known American company that provides a platform for buying and selling cryptocurrencies.
It went public on April 14th, 2021, with a strong start but since then its stock price fell by 82.3%. The decline of crypto prices and increased competition among crypto trading platforms have been identified as reasons for the decline.
HIVE
HIVE Blockchain Technologies Ltd. (HIVE) is a Canadian company that operates a blockchain infrastructure for companies, It’s stock price fall by 81.3% over the past year.
The company has reported a decline in revenues as well as an increase in expenses as the main reasons for the decline in stock price.
MicroStrategy
MicroStrategy Inc (MicroStrategy) has seen a decline in its stock price of 63.9%. Despite the decline, MicroStrategy continues to hold a significant amount of Bitcoin on its balance sheet and the company’s management has expressed confidence in the long-term prospects of the cryptocurrency.
The past year has been challenging for many companies in the crypto space, with several notable stocks experiencing significant declines.
However, it’s worth noting that the crypto industry is still relatively new and there is a lot of uncertainty, which leads to volatility in the prices of crypto-related stocks. Additionally, it is important to keep in mind that past performance is not indicative of future results and the situation can change rapidly in the future.