Blockchain Stocks Sinking

As the stock markets and the cryptocurrency market seem to be moving in tandem, blockchain-focused stocks are taking a hit. The blockchain industry has suffered several blows as China looks to ban crypto, mining in the country is stopping, and Russia is looking to do the same. Hut 8 Mining made gains yesterday, rising nearly 3%, but it managed to lose 8% in overnight activity. Riot Blockchain ($RIOT@US) fell a fraction of a percent on Thursday, losing almost 10% in premarket activity to sink to $17.47. Meanwhile, Microstrategy Inc ($MSTR@US) lost a fraction of a percent on Thursday and followed that up with nearly a 9% loss overnight to reach $457 per share. For its part, BTCS lost over 17% on Thursday, and it dropped another 7.84% overnight, falling close to $5. Finally, HIVE Blockchain ($HIVE@Canada) has managed to see an uptick in value, rising over 2% in early trading, sitting at $2.71. At press time, Ethereum also fell, losing nearly 12%on strong volume and a sinking market cap to trade at $2759.