Canaan Inc. (CAN) saw its shares plummet by 8.94% during intraday trading on Monday, reflecting a broader decline in the cryptocurrency sector. The drop was part of a sector-wide sell-off triggered by falling Bitcoin and Ethereum prices.

Bitcoin fell 4.9% to $86,917.71, while Ethereum dropped 6.2% to $2,833.31, leading to heightened volatility in crypto-related stocks. Other major crypto miners and blockchain companies also experienced significant losses, indicating a cautious investor sentiment toward the sector.