The GraniteShares 1x Short COIN Daily ETF, which inversely tracks the performance of Coinbase Global, is experiencing a downturn as the broader cryptocurrency market faces significant pressure. Bitcoin, a major driver of sentiment in the crypto space, has dropped to the $91,000 level, contributing to a slump across digital currency markets. This decline is part of a broader trend affecting various cryptocurrencies, as market participants reassess the sustainability of recent rallies following the U.S. elections. The current market environment is characterized by heightened volatility, with investors closely monitoring developments in the crypto sector.
The GraniteShares 1x Short COIN Daily ETF (CONI) is currently priced at $10.16, reflecting a 4.06% decrease from its previous close.