Bitcoin, Ether fall; Solana rises as top 10 cryptos retreat

Bitcoin and Ether weakened in Asian trading on Thursday afternoon, with Solana rising amid drops across other top 10 non-stablecoin cryptocurrencies.

Fast facts

Bitcoin inched down 0.72% to US$17,675 in the 24 hours to 4:30 p.m. in Hong Kong, and Ether decreased 2.62% to trade at US$1,288, according to CoinMarketCap.
Solana rose 1.41% to US$14.13, with its trading volume in the 24 hours to 4:30 p.m. in Hong Kong higher by about 37%.
BNB decreased 3.79% to US$264.42. The token has dropped 7.35% over seven days.
Changpeng Zhao, CEO of Binance – backer of the BNB token – is trying to reassure clients and investors after more than US$3.6 billion left the crypto exchange in the 24 hours to 10:52 p.m. Hong Kong time.
Litecoin moved down 4.68% to US$74.78. Its decline on Wednesday and Thursday wiped out gains made on Monday and Tuesday. Dogecoin dropped 3.9% to US$0.08754, down by 9.57% over the last seven days.
Asia equity markets dropped following Wall Street’s retreat. Japan’s Nikkei 225 fell 0.37%, the Shanghai Composite Index inched down 0.25%, and Hong Kong’s Hang Seng Index slumped 1.55%.
Following the U.S. Federal Reserve’s Wednesday announcement of a 50-basis point hike in interest rates, Hong Kong on Thursday also announced an increase of 50 basis points, bringing its interest rate to 4.75%.