Crypto prices remain relatively steady, with most of the major coins flat or marginally higher. Silvergate sank after suspending a preferred dividend.
Bitcoin was trading at $23,000 by 11:50 a.m. EST, up 0.5% over the past day, according to TradingView data. The leading cryptocurrency by market cap has been trading within this range throughout the week.
Ether was down 0.3% to $1,588 in the same period, and Solana’s SOL dropped 0.6%. Meanwhile, Polygon’s MATIC surged as transactions on the network soared. Daily active users on Polygon rose over 8% in the past 7 days, according to Token Terminal.
Dog-themed meme coin floki inu soared in price following a community proposal that would burn $55 million worth of its tokens. The token jumped up 18% by 11:10 a.m. EST.
Crypto stocks
Silvergate dropped in early trading following an announcement that it would suspend payment on its 5.375% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A. Analysts at KBW, led by Michael Perito, said they were surprised by the announcement.
Shares in the crypto-friendly bank were down 8.7% by 11:50 a.m. EST, according to Nasdaq data.
Coinbase shot up 10% to trade over $58, while Jack Dorsey’s Block jumped 3.4% to trade at $84.10. MicroStrategy added about 1.4% to trade above $248.
