Bitcoin, Ether rise, Dogecoin leads decline in top 10 cryptos

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Bitcoin and Ethereum rose slightly in Monday afternoon trading in Asia. Most other non-stable cryptocurrencies in the top 10 by market capitalization were little changed, with Dogecoin leading the declines.

See related article: Bitcoin Hashrate Drops Nearly 40% as Deadly US Storm Unplugs Miners

Fast facts

Bitcoin gained 0.14% in the past 24 hours to trade at $16,857 as of 4 p.m. HK time on Monday, while Ether gained 0.15% to $1,220, data shows. from CoinMarketCap.

Dogecoin was the biggest loser in the top 10 cryptos, dropping 1.87% to trade at $0.07563 in the past 24 hours. Leading Dogecoin advocate Elon Musk may soon step down from his leadership role on social media platform Twitter.

Binances BNB token traded at $243.32, down 0.72% in the last 24 hours. Binance, the world’s largest cryptocurrency exchange, has been accused of deliberately causing the collapse of Bahamas-based FTX.com, which was once the second-largest exchange. Binance may also be questioned by the US Department of Justice for money laundering violations.

XRP edged up 0.64% to trade at US$0.3512, after falling 1.64% in Monday morning trading in Asia.

Stock markets in the United States and Hong Kong were closed on Monday for Christmas. U.S. stock markets rose on Friday after posting a loss for the week on fears of an emerging recession. On Friday, the Nasdaq composite closed 0.2% higher, the S&P 500 rose 0.6% and the Dow Jones Industrial Average gained 0.5%.

The US central bank raised interest rates by half a percentage point this month after the consumer price index, a key indicator of inflation, rose 7.1% in November compared to the previous year. US Federal Reserve Chairman Jerome Powell has said there will be more interest rate hikes next year, even as the economy heads into a potential recession.

See related article: The last 12 months of the year to forget, according to crypto exchange Indias WazirX

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