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