Bitcoin gained in Thursday evening trading in Asia and remained above US$20,000. Ether values fluctuated in the day but eventually rallied. Of the top 10 cryptocurrencies by market capitalization, XRP led gains while stablecoins Tether and Binance USD declined on the day.

Fast facts

Bitcoin gained 0.34% in the past 24 hours to trade at US$20,181 at 4:30 p.m. in Hong Kong, while Ether rose 1.43% to US$1,364, according to data from CoinMarketCap.

XRP gained 3.4% to change hands at US$0.4935 amid a wave of developments for Ripple Labs, the firm whose payment network is powered by XRP. Ripple Labs received a boost from its inclusion in CB Insights’ list of most promising fintech companies in the world, but was dealt a blow in its ongoing case against the U.S. SEC when the SEC objected to the inclusion of two firms seeking to testify in Ripple’s favor in the lawsuit.

Dogecoin’s rising momentum slowed but continued to rise, gaining 1.04% to trade at US$0.06503, following Tuesday’s news that long-time advocate of the memecoin, Elon Musk, would continue with his purchase of Twitter.

Solana rose by 0.89% to US$34.02 and Cardano gained 0.78% to US$0.432.

Asia equity markets were mixed following Wall Street’s slip overnight. The Hong Kong Hang Seng Index closed 0.42% lower, while the Nikkei 225 gained 0.7%. The Shanghai Composite Index remained closed for China’s Golden Week holiday.
Inflation woes continued as the Australian Bureau of Statistics reported that fruit and vegetable costs rose by 18.6% in August compared to a year earlier, with inflation in the same period at 6.8%. Similar concerns persisted in the U.S., where Atlanta Federal Reserve President Raphael Bostic said on Wednesday “we are still decidedly in the inflationary woods, not out of them.”

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