Bitcoin, Ether fall along with top 10 cryptos, led by Polygon’s Matic
Bitcoin fell during Thursday afternoon trading in Asia along with all other top 10 cryptocurrencies, excluding stablecoins, led by declines in Polygon’s Matic.
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Fast facts
- Bitcoin lost 1.46% in the past 24 hours to trade at US$16,597 at 4 p.m. in Hong Kong, and Ether fell 3.54% to US$1,204, according to data from CoinMarketCap.
- Polygon’s Matic led losses among the top 10 cryptos, falling 5.2% to $0.88, despite being one of the strongest performing tokens over the past week after its issuer Polygon on Monday announced a partnership with Nike.
- XRP dropped 2.59% to US$0.38, though it rose 2.44% for the past seven days after crypto exchange Coinbase submitted an amicus brief on Monday in support of Ripple Labs – whose payment system is powered by XRP – in the ongoing lawsuit against them filed by the U.S. Securities and Exchange Commission.
- Cardano lost 3.85% to change hands at US$0.33, Solana fell 0.77% to US$14.25, now 8.46% down for the past week, and Dogecoin dropped 3.92% to US$0.086.
- Asia equity markets fell following Wall Street’s losses overnight. The Shanghai Composite Index inched 0.15% lower, the Nikkei 225 closed 0.35% down, and the Hong Kong Hang Seng Index dropped 1.15%
- The Hang Seng Index fell 2.09% in morning trade as Chinese technology stocks lost ground after Chinese tech giant Tencent announced it will slash its stake in the Hong Kong-listed shopping platform Meituan. Tencent’s stake in Meituan exceeds US$20 billion.
See related article: How Hong Kong and Singapore can make Asia the center of crypto’s future
