Bitcoin and Ether were stronger in Asian trade on Wednesday afternoon, reversing some of their losses on Monday and Tuesday. The top 10 cryptocurrencies by market capitalization, excluding stablecoins, also increased.
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- Bitcoin gained 5.21% in the past 24 hours to trade at US$16,520 at 4.30pm in Hong Kong, after falling 1.26% over the previous seven days, and Ether rose 7.28% to US$1,162, according to CoinMarketCap.
- BNB led the gains among the top 10 cryptocurrencies, rising 15.54% to US$292.09, and is up 4.7% over the past seven days. Binance CEO Changpeng Zhao is meeting with investors in Abu Dhabi to seek cash for the exchange’s crypto recovery fund, Bloomberg reported Tuesday, but Zhao rebuttal The report.
- Litecoin rose 27.67% to US$78.89. It has gained 35.11% in the last seven days, outperforming Solana by its market capitalization. Solana rose 14.14% to US$13.05, but has fallen more than 8% in the past seven days.
- The top 10 cryptocurrencies strengthened across the board. Polygon’s Matic is up 9.71%, Dogecoin is up 9.76%, XRP is up 6.62% and Cardano is up 5.33%.
- Asian shares rose after overnight gains on Wall Street. The Nikkei 225 in Tokyo rose 0.61% and the Shanghai Composite rose 0.26%. Hong Kong’s Hang Seng rose 0.2% in early trade on Wednesday, before closing 0.57% higher.
- The US Federal Reserve will release the minutes of its November meeting on Wednesday. CME Group’s FedWatch estimated a 75.8% chance of a 50-basis-point hike next month, down from 85.4% last week.
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