Bitcoin and Ether dipped in Friday afternoon trading in Asia, with nearly all other top 10 non-stablecoin cryptocurrencies slipping. Dogecoin was the biggest loser, while Cardano’s ADA was the sole gainer in the top 10 cryptos.
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- Bitcoin dipped 0.17% to US$16,799 in the past 24 hours to 4 p.m. in Hong Kong, and Ether edged down 0.25% to trade at US$1,248, according to data from CoinMarketCap. Bitcoin gained 1.88% over the past calendar week, with Ether rising 4.94%.
- Dogecoin fell 3.76% to change hands at US$0.07098 but still gained 4.3% over the past week. XRP lost 2.81% to US$0.3352, logging a marginal weekly slip of 0.6%.
- Cardano’s ADA token rose 2% to US$0.2716, holding gains of 12.6% over the past week. A Wednesday report from payment processor CoinGate, which showed ADA made it to the top 10 most used cryptocurrencies for the first time, could have fuelled the increase.
- Asian equities markets mostly finished the week higher, as investors sought signs of a potential economic boost from China’s border reopening while the U.S. Federal Reserve remained committed to taming inflation with potential interest rate hikes. The U.S. will release jobs data on Friday, which may offer signals on how the Fed would adjust its policy.
- Japan’s Nikkei 225 closed 0.59% higher on Friday, and Korea’s Kospi gained 1.12%. The Shanghai Composite Index inched up 0.077%, and Hong Kong’s Hang Seng Index fell 0.29%.
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