Bitcoin, Ether rise as most top 10 cryptos rally
Bitcoin and Ether inched up in Friday evening trade in Asia with most other top 10 cryptocurrencies by market capitalization, excluding stablecoins. Dogecoin and Solana lost ground for a second consecutive day.
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Fast facts
- Bitcoin gained 0.89% in the past 24 hours to trade at US$16,750 at 4 p.m. in Hong Kong, and Ether led gains among top 10 cryptos with a rise of 0.91% to US$1,215, according to data from CoinMarketCap
- Cardano inched up 0.28% to US$0.33, Polygon rose 0.08% to US$0.89 and Shiba Inu gained 0.44% to change hands at US$0.00000915. XRP traded 0.64% higher at US$0.38 after U.S. lobby group Blockchain Association filed amicus briefs in support of Ripple Labs – whose payment network is powered by XRP – in its court case against the U.S. Securities and Exchange Commission.
- Solana led losses among the top 10 cryptos, dropping 4.41% to US$13.62, with some US$300,000 separating Solana from the 11th-ranking crypto Tron. Dogecoin was the only other top 10 token to decline, falling 0.49% to US$0.085, now 3.03% down the week, following market talk of a potential mass walkout by Twitter employees over a hardline memo sent by Twitter CEO and Dogecoin proponent, Elon Musk.
- Asia equity markets fell following Wall Street’s losses overnight. The Nikkei 225 fell 0.11% in Tokyo, the Shanghai Composite Index fell 0.58% and the Hong Kong Hang Seng Index slipped 0.29%.
- Downbeat inflationary reports continued Friday as Japan announced its annual inflation rose from 3% for September to 3.7% for October, far surpassing forecasts of 3.2%.
- U.K. markets reacted positively to the announcement that the GfK consumer confidence for November strengthened from -47 to -44, defying forecasts of a drop to -51, though it remained close to the record low of -49 in September.
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