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Bitcoin prices rose Wednesday morning in Asia amid a week of volatile price movements in year-end trading. Ether won after credit card giant Visa said it was exploring how to introduce recurring automatic payments for self-custodial Ethereum wallets. The other top 10 non-stable cryptocurrencies also rose.
See related article: Visa explores automatic payments on Ethereum
Fast facts
Bitcoin gained 2.9% to hit US$16,890 in the 24 hours as of 8:15 a.m. in Hong Kong, while Ether rose 4.3% to trade at US$1,215, according to CoinMarketCap.
Global crypto market capitalization rose 2.8% to $814 billion in the past 24 hours, while total trading volume jumped 22% to $37.9 billion. Arcane Research in a note said that Bitcoin’s volatility has been hitting highs and lows in December over the past seven days, while Bitcoin’s correlation with US stocks has increased over the same period.
BNB rebounded 4.4% to change hands at $250.37 in the biggest gain on the top ten list after a slump last week saw clients withdraw billions of dollars in investments from the exchange Binance, the token issuer, amid reports it may face a US legal investigation. Questions have also been raised about the completeness of a published review of exchange reserves. The token is still down 8% in the past seven days.
Dogecoin jumped 4.2% to trade at US$0.074. The memecoin has recouped heavy losses on speculation longtime memecoin supporter Elon Musk will step down as the head of Twitter. Musk previously said he could use Dogecoin as a payment system on Twitter. The token is still down more than 18% on the week.
Polygons Matic token gained 3.8% to $0.79 after Polygon co-founder Sandeep Nailwal announced Beacon, a Web3 accelerator program. The program is led by Nailwal and includes other digital asset industry leaders. He will focus on creating software to improve discussions and transparency between developers and investors.
US stocks rose on Tuesday. The Dow Jones Industrial Average gained 0.3%, the S&P 500 index ended up 0.1% and the Nasdaq Composite Index rose less than 0.1%.
See related article: Binance deliberately caused the collapse of FTX, according to Kevin OLeary
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