Bitcoin and Ether rose over 2% in Thursday afternoon trading in Asia as most of the top 10 cryptocurrencies by market capitalization rebounded from Wednesday’s losses.
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- Bitcoin gained 2.95% in the past 24 hours to trade at US$19,348 at 4 p.m. in Hong Kong, while Ether strengthened 2.8% to US$1,321, according to data from CoinMarketCap.
- XRP gained 3.58% to change hands at US$0.4391, up 3.77% on the week amid price volatility around conflicting developments related to the court case between the U.S. Securities and Exchange Commission and XRP’s issuer, Ripple Labs.
- BNB rose 3.87% to US$280.90. Solana added 3.15% to US$33.34 while Cardano was little changed.
- Asia’s equity markets were mixed despite the gains on Wall Street overnight. Japan’s Nikkei 225 Index gained 0.95%, while the Shanghai Composite Index dipped 0.13% and Hong Kong’s Hang Seng Index lost 0.49%.
- Beside rising interest rates, capital markets have a new concern as the UK pound fell as much as 1% as support from the Bank of England’s Wednesday announcement that it would buy bonds “on whatever scale is necessary” to support the currency faded. Inflation concerns also grew as UK Prime Minister Liz Truss defended the tax cuts in her government’s “mini-budget.”
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