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Why Coinbase Global Fell on Monday

TheMotleyFool

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Cryptocurrency may be the financial wave of the future, but it sure wasn't a favored asset class on Monday. In a lowering-tide-sinks-all-boats situation, slumping cryptocurrency prices negatively affected the stock of Coinbase Global (NASDAQ: COIN), dragging the company's share price down by more than 2% on the day.

The most direct factor in the decline of cryptocurrencies Monday seems to have been a fake news release regarding Litecoin (CRYPTO: LTC), a relatively popular and well-established altcoin, and monster retailer Walmart (NYSE: WMT).

Image source: Getty Images.

Source Fool.com

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