Bitcoin and Ether increased in Asian trading on Wednesday afternoon, with Solana leading gains across most top 10 non-stablecoin cryptocurrencies.

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Fast facts

  • Bitcoin rose 3.62% over the past 24 hours and was trading at US$17,804 by 4:30 p.m. in Hong Kong, and Ether increased 4.4% to US$1,322, according to CoinMarketCap.
  • Solana gained 7.26% to US$13.93, surpassing Shiba Inu and Tron to be the 10th largest non-stablecoin cryptocurrency by market capitalization. BNB increased 3.22% to US$278.84, reversing losses from Wednesday morning but still lower 2.98% in the last seven days.
  • Binance, backer of the BNB token, saw a wave of withdrawals on Tuesday. Blockchain data firm Nansen said on Tuesday that Binance registered US$1.9 billion in withdrawals in the past 24 hours, according to Reuters.
  • Binance chief Changpeng Zhao tweeted Tuesday night that Binance saw a net outflow of US$1.14 billion over the past 24 hours. “Some days we have net withdrawals; some days we have net deposits. Business as usual for us.”
  • In a memo to employees, Zhao warned his colleagues that the coming months are expected to be difficult, according to Bloomberg. He will hold an “Ask Me Anything (AMA)” session on Twitter at 7:30 p.m. Hong Kong time on Wednesday.
  • Asia markets gained following Wall Street’s rise after the release of a lower inflation reading from the U.S. The Nikkei 225 rose 0.72%, the Shanghai Composite Index inched up 0.0063%, and Hong Kong’s Hang Seng Index gained 0.39%.
  • China on Wednesday stopped tracking Covid-19 case numbers after it ceased mandatory testing. Amid a surge of cases in Beijing, China will delay a central economic work conference this week that President Xi Jinping was expected to attend, Bloomberg reported on Tuesday, citing unnamed sources.
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