Glonghui, January 6, 丨 Silvergate Capital (SI.US) fell 7.96% before the market to 11.57 US dollars. BTIG analyst Mark Palmer lowered Silvergate Capital's target price from $51 to $21 after the company's preliminary updates for the fourth quarter showed that digital asset customer deposits fell 68% month-on-month during the quarter. Palmer told investors in a research report that the news made investors start thinking about the impact of the shrinking Silvergate balance sheet on its profitability, but he still rated the company's stock as a “buy” and believed the company was still in an advantageous position to benefit from institutional adoption of digital assets.