180 Life Sciences Corp. (NASDAQ:ATNF) shares slid 1.45% in after-hours trading on Thursday, coinciding with the decline of the company’s primary reserve asset, Ethereum (CRYPTO: ETH).
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ETH’s Decline Drags Down ATNF Stock
Ethereum sank below $4,500, reversing sharply its gains from Wednesday. The correction triggered a 28% decline in the biotechnology company’s stock during the regular trading session.
The stock has been on a tear lately, surging as much as 116% in a week and 755% in a month, aligning with ETH’s rise in this period. The second-largest cryptocurrency has gained nearly 50% in a …