Bitcoin, Ether extend losses; Solana, Cardano biggest losers

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Bit­coin and Ethereum fell in Wednes­day after­noon trad­ing in Asia, as Solana and Car­dano led loss­es among the top 10 non-sta­ble­coin cryp­tocur­ren­cies by mar­ket capitalization.

See relat­ed arti­cle: Binance says it erro­neous­ly mixed cus­tomer funds with col­lat­er­al for Binance-issued tokens

Fast facts

  • Bit­coin was down 1.42% to US$22,731 at 4 p.m. on Wednes­day in Hong Kong, but has gained 6.74% for the past sev­en days, accord­ing to Coin­Mar­ket­Cap data. 
  • Ethereum fell 4.92% to US$1,555 in 24 hours of trade and has lost 1.70% in the past 7 days.
  • Solana and Car­dano led loss­es in Wednes­day after­noon trade in Asia. Solana fell 6.06% to US$23.30, although it gained 1.45% in the past week. Car­dano was down 6.04% to US$0.3593, after post­ing a 2.47% gain in the past sev­en days.
  • Polka­dot fell 5.20% to US$6.26, as part of its 4.06% week­ly climb. Polygon’s Mat­ic token was down 4.76% to US$0.9683 and has lost 3.56% in the past week. Binance’s BNB token lost 4.75% to US$303, though it was still up 0.54% for the week. 
  • Many Asian stock mar­kets were closed on Wednes­day for the Lunar New Year hol­i­days. Japan’s Nikkei 225 rose 0.35% while India’s Sen­sex was down 1.28% at 2.47 p.m. local time.
  • Equi­ty mar­kets are look­ing for­ward to the U.S. Fed­er­al Reserve’s deci­sion on inter­est rates and the direc­tion of the econ­o­my. The cen­tral bank’s next meet­ing will take place from Jan. 31 to Feb. 1. Sev­er­al mar­ket watch­ers expect the cen­tral bank to slow its series of aggres­sive rate hikes with a 25 basis point increase. 
  • See relat­ed arti­cle: Japan’s finan­cial reg­u­la­tor aims to lift ban on for­eign sta­ble­coins by June this year

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