{"id":446104,"date":"2022-05-12T23:16:08","date_gmt":"2022-05-12T20:16:08","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/crypto-associated-stocks-hammered-as-coin-and-hood-drop-to-record-lows\/"},"modified":"2022-05-12T23:16:08","modified_gmt":"2022-05-12T20:16:08","slug":"crypto-associated-stocks-hammered-as-coin-and-hood-drop-to-record-lows","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/crypto-associated-stocks-hammered-as-coin-and-hood-drop-to-record-lows\/","title":{"rendered":"# Crypto-associated stocks hammered as COIN and HOOD drop to record lows"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a40631ae70f2\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a40631ae70f2\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/crypto-associated-stocks-hammered-as-coin-and-hood-drop-to-record-lows\/#%E2%80%9D_Crypto-associated_stocks_hammered_as_COIN_and_HOOD_drop_to_record_lows_%E2%80%9C\" >&#8221; Crypto-associated stocks hammered as COIN and HOOD drop to record lows &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/crypto-associated-stocks-hammered-as-coin-and-hood-drop-to-record-lows\/#Crypto_financial_services_also_correct\" >Crypto financial services also correct<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/crypto-associated-stocks-hammered-as-coin-and-hood-drop-to-record-lows\/#Weakness_spreads_throughout_the_tech_sector\" >Weakness spreads throughout the tech sector<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Crypto-associated_stocks_hammered_as_COIN_and_HOOD_drop_to_record_lows_%E2%80%9C\"><\/span>&#8221; Crypto-associated stocks hammered as COIN and HOOD drop to record lows &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Bad <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> continues to dominate crypto <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a> headlines and May 12&#8217;s juiciest tidbit was the unexpected collapse of the Terra ecosystem. In addition to the weakness seen in equities, listed companies with exposure to blockchain startups and cryptocurrency mining have also declined sharply.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Bitcoin mining stocks continue bleeding&#8230;<\/p>\n<p>Mining investors probably wish they had simply bought bitcoin instead at the beginning of 2022, as most bitcoin mining stocks have underperformed bitcoin by a wide margin. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/anSoUEoUJ1\">pic.twitter.com\/anSoUEoUJ1<\/a><\/p>\n<p>\u2014 Jaran Mellerud (@JMellerud) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/JMellerud\/status\/1524297768449286144?ref_src=twsrc%5Etfw\">May 11, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nWhile it may be easy to blame the current pullback solely on Terra&#8217;s implosion, the truth is that the price of Bitcoin mining stocks has largely mirrored the performance of BTC since reaching a peak in November 2020. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-05\/a9335621-a594-4780-aace-c728e8ec23d5.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>BTC\/USDT vs. RIOT, HUT, MARA and BITF .1-day chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>It&#8217;s likely that the price of these stocks will struggle as long as Bitcoin continues to bleed lower in the face of multiple headwinds, including rising interest rates, inflation and global conflict. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Crypto_financial_services_also_correct\"><\/span>Crypto financial services also correct<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>It\u2019s not just Bitcoin mining stocks that have fallen under the pressure of late as all manner of companies with any kind of association with cryptocurrencies have been feeling the heat in May. <\/p>\n<p>Following the release of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/seekingalpha.com\/news\/3837088-robinhood-block-stocks-fall-after-coinbase-outlook-dims-on-crypto-swoon\">forward-looking statements<\/a> that project a continued decline in active users and trading volume, the price of Coinbase (COIN) stock hit an all-time low of $41.23 in the early trading hours on May 12.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-05\/93f31a63-90c6-420f-9294-027043f63637.png\"><figcaption style=\"text-align: center;\"><em>COIN price 4-hour chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Robinhood also saw its stock price drop to a new all-time low of $7.73 on May 12, one day after the firm revealed that its crypto transaction revenue fell 39% year-over-year in Q1 from $88 million in 2021 to $54 million in 2022. <\/p>\n<p>While Robinhood is not a crypto-only exchange, roughly 18% of its Q1 net revenue came from crypto-related transactions, which is significant when comparing the size of the crypto market to the other markets supported on the platform. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Bitcoin fights to hold $29K as fear of regulation and Terra\u2019s UST implosion hit crypto hard<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Weakness_spreads_throughout_the_tech_sector\"><\/span>Weakness spreads throughout the tech sector<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The declines in cryptocurrency-related stocks mirror a backdrop of widespread weakness in financial markets, especially the tech sector.<\/p>\n<p>Several years of optimistic projections and quantitative easing have resulted in an overvalued and volatile tech sector that throws fits if earnings fall below expectations. <\/p>\n<p>Once the darlings of the mighty stock market, FAANG stocks have led the charge lower, weighing down the Nasdaq, which closed April with its worst monthly performance <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/time.com\/6175464\/why-tech-stocks-are-down\/\">since the 2008 financial crisis<\/a>. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-05\/b6ee4b98-f165-4e73-bbff-80bbc655becf.png\"><figcaption style=\"text-align: center;\"><em>NASDAQ composite 1-day chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>The losses for the Nasdaq further quickened in May as the benchmark index fell another 9.15% to its lowest level since November 2020.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/crypto-associated-stocks-hammered-as-coin-and-hood-drop-to-record-lows\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Crypto-associated stocks hammered as COIN and HOOD drop to record lows &#8220; Bad news continues to dominate crypto media headlines and May 12&#8217;s juiciest tidbit was the unexpected collapse of the Terra ecosystem. In addition to the weakness seen in equities, listed companies with exposure to blockchain startups and cryptocurrency mining have also declined&#8230;<\/p>\n","protected":false},"author":1,"featured_media":446105,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvNzk3NDA0YWMtNTk0OS00NTRhLTg3ZDYtNDZmOThhMjI3MThhLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74989,74937,74956,74863,74860,76556,75042,86706,117,73785],"class_list":["post-446104","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-mining","tag-bitcoin-price","tag-coinbase","tag-cryptocurrencies","tag-cryptocurrency-exchange","tag-fintech","tag-mining","tag-robinhood","tag-business","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/446104","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=446104"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/446104\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/446105"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=446104"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=446104"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=446104"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}