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Bitcoin

Bitcoin, Ether follow U.S. equities higher on view inflation starting to ease despite hawkish Fed

admin January 10, 2023

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, 2023-01-10 19:35:00,

Bitcoin and Ether prices rose in Wednesday morning trading in Asia along with most other top 10 non-stablecoin cryptocurrencies, continuing a strong start to the year on signs inflation is slowing in the U.S. Leading memecoin Dogecoin saw the biggest daily gains, while Cardano led the pack for the week. Litecoin and Solana were the only losers on the list.

See related article: Coinbase to cut 20% of its remaining workforce

Fast facts

  • Bitcoin rose 1.5% to US$17,452 in the 24 hours to 8 a.m. in Hong Kong, a 4.6% increase over the past calendar week. Ether gained 1.2% to US$1,336, a 10% weekly rise, according to CoinMarketCap.

  • Dogecoin rose 2.6% to US$0.07, bringing its weekly gains to 10.3%. Copycat meme token Shiba Inu token, which sits just outside CoinMarketCap’s top 10 list by capitalization, gained 6.5% to US$0.000009247, for a weekly rise of 13.6%.

  • Cardano added 1.7% to US$0.32, a rise of 27.6% over the past week — the largest of any major token. Cardano has been on a price run since it made it into the top 10 most used cryptocurrencies for payments for the first time last year, according to a Jan. 4 report by Lithuanian cryptocurrency payments processor CoinGate.

  • BNB rose 1.7% to US$277.34 for a seven-day gain of 12.7%. This is a rebound from losses after reports emerged the U.S. Justice Department was amping up its probe into BNB’s issuer and world’s largest cryptocurrency exchange, Binance Global.

  • The total crypto market capitalization rose 1.1% to US$857.9…

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