Bitcoin and Ether prices rise slightly; Dogecoin bounces back after heavy losses

[ad_1]

Bitcoin and Ether traded higher Friday morning in Asia, along with almost all other non-stable cryptocurrencies. Dogecoin led the gains rising almost 4.5%, followed by Cardano and XRP. BNB fell slightly.

See Related Article: Retired US Senator Pat Toomey Introduces Bill to Regulate Stablecoins

Fast facts

Bitcoin edged up 0.07% to $16,829 in the 24 hours to 8 a.m. in Hong Kong, while Ether rose 0.36% to change hands at $1,218, according to data from CoinMarketCap.

Dogecoin gained 4.46% to trade at US$0.07696, recovering from heavy losses recorded earlier this week after longtime Dogecoin supporter Elon Musk announced he would be stepping down as head of Twitter.

Twitter activated a new search feature on Thursday that shows Bitcoin and Ether price charts, but the feature is not yet available for memecoin. The token has traded 9.16% in the past seven days.

Cardano rose 1.33% to US$0.2565 after losing 14.52% last week. XRP rose 1% to swing hands at US$0.3496, but was still down 7.57% over the past seven days. BNB slipped 0.06%.

The price moves came after news broke that Sam Bankman-Fried, founder of failed exchange FTX.com, was released on US$250 million bail on Thursday in the United States.

The collapse of the Bankman-Frieds exchange last month amid accusations of fraud prompted massive sell-offs and withdrawals from centralized crypto exchanges as investors feared more failures could follow.

US stocks ended the day lower on Thursday. The Dow Jones Industrial Average fell 1.05% and the S&P 500 index lost 1.45%. The Nasdaq Composite Index fell 2.18%. The declines followed a recovery of relief on Wednesday after data showed the U.S. consumer confidence index hit an eight-month high in December.

See related article: SEC, Ripple gets extensions to exclude expert testimony in XRP lawsuit

[ad_2]