Ether and XRP Stay Flat Even as Tech Stocks Catch a Breath
Major cryptocurrencies showed almost zero reaction on Thursday, even as the heavy pressure on Asian tech markets finally eased up.
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Key takeaways
- Ether and XRP traded sideways as Asian semiconductor stocks stabilized.
- Samsung's massive profit surge helped calm broader tech selloffs.
- Most major tokens remain lower on the week, with HYPE down 8%.
Ether and XRP sat on their hands Thursday. They stayed dead flat while a brutal selloff in Asian semiconductor stocks finally hit the brakes.
Equity markets got some breathing room, but broader crypto couldn't build any real momentum. Look at the last seven days: most major digital assets are still sitting deep in the red. Hyperliquid's HYPE token took one of the clearer hits, sliding 8% across the week.
This sleepy session followed a sudden halt in traditional market bleeding. Chipmakers steadied after tech titan Samsung posted a staggering 250-fold surge in profits, calming the macro jitters that had been whipping through tech equities. Yet that stock rebound completely failed to spill over into crypto order books.
Why it matters
Stock market relief isn't magically pulling capital back into crypto right now. When heavyweights like Ether and XRP lock into a sideways crawl while big tech calms down, it tells you traders are staying defensive. Don't fall for the trap of thinking a stock market rally will automatically jumpstart crypto prices.
Source: CoinDesk
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