Glonghui, January 7 | Silvergate Capital (SI.US) fell 10.62% to $11.24, with a total market capitalization of US$356 million. 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.