Bitcoin and Ethereum fell in Wednesday afternoon trading in Asia, with almost all top 10 cryptocurrencies by market cap in the red. Solana was the biggest mover among the major coins, dropping 5.94% in the past 24 hours.
- Bitcoin fell 3.42% in the prior 24 hours to change hands at $23,014 as of 4:30 p.m. in Hong Kong, while Ethereum was trading at US$1,691, down 4.7%, according to data from CoinMarketCap.
- BNB reversed gains from a recent run up, sparked when Binance, the issuer, said it would be offering staking services for more tokens. It fell back 0.99% to trade at US$320.82.
- Solana, which posted the biggest percentage loss among the top 10 in morning trade, was flipping hands at US$39.82.
- Asia equity markets closed in the red across the board amid reports of China consumer prices hitting a two-year high in July. The Hong Kong Hang Seng dropped 1.96%, with the Shanghai Composite index losing 0.54% and the Nikkei 225 index edging down 0.65%.
- China’s consumer price index rose by 2.7% in July from a year ago, up from June’s 2.5%, the National Bureau of Statistics announced on Wednesday. Notably, prices of pork surged by 20.2% year-on-year in July, pushing up overall food prices.
- The U.S. is set to release a raft of key inflation figures on Wednesday, with some economists expecting consumer prices in July rose a slower 0.2%, down from 1.3% in June, as energy prices eased back.
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