Crypto Markets Descend While Tech Stocks Surge

Thursday, March 21 - Most of the top 20 coins by market capitalization are in the red, showing slight losses on the day, down from one to four percent.

The leading cryptocurrency Bitcoin is trading at $4,027 at press time, down about one percent over the 24-hour period.

BTC has been trading sideways as of early trading hours, following a drop to as low as $4,007 in the middle of the day.

The top altcoin Ethereum has seen a 1.87 percent downturn on the day and is trading at $137.21 at press time.

Ripple has also lost about two percent over the past day and is trading at $0.312 at press time.

The coin started the day at $0.318, dropping as low as $0.309 in the middle of the day.

On CoinMarketCap's listings, Tezos is the biggest gainer, up by 25.77 percent on the day and trading at $0.771 to press time.

The exchange found that behavior among assets is diverging depending on whether returns are denominated in USD or BTC.Today, MarketWatch reported that U.S. stocks ended higher following a surge in tech shares that helped to lift key equity benchmarks.

The S&P 500 has gained 1.09 percent to trade at around 2,854, while the Dow Jones Industrial Average has increased by 0.84 percent and is trading at around 25,962 at press time.

On the Asian market, mainland Chinese shares climbed on the day, as the Shanghai composite gained 0.35 percent and the Shenzhen component added 0.706 percent, according to CNBC. Shares of tech giant Samsung Electronics and chipmaker SK Hynix saw their stocks surge 4.09 percent and 7.66 percent, respectively.