Short sellers of crypto stocks have clocked about 126 per cent in mark-to-market gains this year, far outpacing those from other sectors, according to financial and analytics firm S3 Partners, amid a risk-off sentiment in the broader equities market.
Short sellers, who bet on a stock's decline, have an average short interest of $3 billion on the sector, according to S3. Shares in Coinbase and software developer Microstrategy Inc have dropped 78.6 per cent and 69 per cent so far this year. Short interest as a percentage of the company's float stood at 15 per cent for Coinbase and 27.5 per cent for Microstrategy, according to S3.
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