Both stocks and cryptocurrencies are in the red today following an uptick in novel coronavirus cases. The prospect of a Joe Biden presidency may be spooking investors, too.
It’s been a rough day for both crypto and stocks alike, as the US economy reels from a recent uptick in COVID-19 cases.
Most coins today are in the red, as the combined market capitalization for cryptocurrencies today sank by around $11 billion.
Bitcoin, for example, has fallen by nearly 4% in price, currently trading for around $9,200 per coin, erasing the gains from earlier in the week (even if the asset is still outperforming gold this year.) Ethereum, meanwhile, has likewise dropped by 4%, potentially driven by the movement of more than $180 million worth of ETH associated with the alleged PlusToken ponzi scheme.
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https://decrypt.co/33435/stocks-crypto-slide-surge-covid-19