By Dhirendra Tripathi

Investing.com – MicroStrategy (NASDAQ:), Coinbase (NASDAQ:) and other crypto-related stocks look set to extend last week’s losses as digital currencies take a beating amid rising geopolitical and economic uncertainties.

MicroStrategy stock fell 15% in Monday’s premarket trading after shedding nearly 18% Friday. Coinbase fell 11%. The exchange lost 13% during the previous trading session.

Market fears of an invasion by Russia of Ukraine, rising interest rates and other concerns are creating panic in the market. This is causing a drastic erosion of value for assets that have been considered to be risky. Stocks and cryptos lead the decline. Bank of Russia’s proposal to ban cryptos is also adding to the rout.

Hut 8 Mining, NASDAQ:), Bit Digital, Riot Blockchain, NASDAQ: and Marathon Digital (NASDAQ 🙂 were all among the other crypto-related stocks that fell in premarket. All of them lost 12%. ADRs for Argo Blockchain (NASDAQ) fell 15%.

()The largest cryptocurrency market capital, cryptocurrencies, dropped more than 7 percent and traded just over $33,500. Since Nov. 10, when it reached a record $68,990.6, the crypto has seen more than half its value. CryptoQuant, which is based in Korea, has found that 38% of the Bitcoins ever mined are now trading at loss. This compares to 34% when the peak ratio was 34%.

Others cryptos fell on Monday as well. Shiba Inu slumped 16%, Polkadot 14%, Ethereum 12% and Dogecoin 8%.

After the Kazakhstan crisis, people protested rising fuel costs and this led to the latest crypto slide. The central Asian country is the world’s second largest crypto miner.