SI - Why Shiba Inu Solana and Cardano Are Falling Today
Many cryptocurrencies are falling today, despite a slightly positive day for most major market indices and the Dow Jones Industrial Average rising more than 343 points. However, the severe struggles of one of the main U.S. crypto banks seem to have investors on edge.
Since late afternoon yesterday, the price of the meme token Shiba Inu (CRYPTO: SHIB) traded 4.5% lower as of 4:05 p.m. ET today. Shares of other altcoins like Solana (CRYPTO: SOL) and Cardano (CRYPTO: ADA) traded roughly 4.4% and 4.3% down, respectively.
The big crypto-related news came after the market closed yesterday when the crypto bank Silvergate Capital (NYSE: SI) reported in a regulatory filing that it would need to delay filing its annual report with the Securities and Exchange Commission (SEC).
For further details see:
Why Shiba Inu, Solana, and Cardano Are Falling Today