Bitcoin and Ethereum prices fell on Wednesday afternoon in Asia along with all other non-stablecoin top 10 cryptocurrencies by market capitalization. Dogecoin led losses, dropping 5.37% in the last 24 hours leading to 4:00 p.m. Hong Kong time, followed by Cardano at 4.73% and Polygon at 3.24%.

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Fast facts

  • Bitcoin dropped 1.33% to US$16,658 in the 24 hours to market close in Hong Kong, while Ether fell 2.20% to US$1,195, according to CoinMarketCap data
  • Dogecoin led the day’s losses with 5.37% to US$0.071. The memecoin has been sliding since supporter Elon Musk said he would be stepping down as the chief of social media platform Twitter.
  • Cardano dropped 4.73% to US$0.2514 while XRP was down 2.48% to US$0.3589 in the last 24 hours. Polygon was down too at 3.24% to US$0.7879.
  • Most Asian markets were down on Wednesday trading, with the Shanghai Composite Index closing 0.26% lower while Japan’s Nikkei dropped 0.41%. Hong Kong’s Hang Seng closed 1.56% higher, gaining a boost from China announcing plans to relax pandemic measures earlier this week.  
  • See related article: Japan plans to lift ban on stablecoins issued overseas: report