Bitcoin edged down and Ether remained unchanged on the day, in Thursday afternoon trading in Asia. Dogecoin was the biggest gainer among the top 10 non-stablecoin cryptocurrencies, while Litecoin recorded the largest loss.

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Fast facts

  • Bitcoin slipped 0.25% to US$16,829 in the 24 hours to 4 p.m. in Hong Kong, while Ether remained at US$1,251, according to data from CoinMarketCap.
  • Dogecoin rose 1.67% to trade at US$0.07376, gaining the most among the 10 largest cryptocurrencies by market capitalization.
  • Litecoin fell 1.86% to change hands at US$75.29, but still logged a 13.78% rise over the past calendar week after reporting a record high transaction volume in 2022.
  • Asian equities markets mostly traded higher on Thursday, following a Wall Street rally overnight. Japan’s Nikkei 225 closed 0.4% higher, Hong Kong’s Hang Seng Index gained 1.25% and the Shanghai Composite Index finished the day 1% higher.
  • The U.S. Federal Reserve on Wednesday released its December meeting minutes that showed the central bank remained committed to raising interest rates. But U.S. economic data released on the same day indicated easing inflation, with official labor data suggesting a higher-than-expected number of available jobs in November. The U.S. government will release its December employment report on Friday.
  • Investors were also assessing China’s economic slowdown as Covid-19 cases surged. China’s factory activity contracted further in December, according to the Caixin manufacturing purchasing managers’ index, which shrank to 49 from 49.4 in November. A reading below 50 indicates a contraction in activity while a number above 50 reflects expansion.

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