TechFlow, May 29 — According to Cointelegraph, U.S. cryptocurrency mining stocks sharply declined at the close of trading on May 28, possibly influenced by the Federal Reserve's meeting minutes, while the broader cryptocurrency market remained relatively stable.
The Federal Reserve's released minutes from its May Federal Open Market Committee meeting indicated that if inflation persists alongside weakening economic growth and employment prospects, the committee may face difficult trade-offs. On that day, Riot Platforms dropped 8.32%, CleanSpark fell 7.61%, and Marathon Digital Holdings declined 9.61%. Cryptocurrency exchange Coinbase also saw its share price fall by 4.55%.
Meanwhile, Bitcoin's price dipped only slightly by 0.90%, currently trading at $107,942.
