Bitcoin, Ether rise with most of crypto market, Solana posts best start to year for major token, BNB pulls back amid Binance probe

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Bitcoin and Ether gained Tuesday morning in Asia, along with most of the other top 10 non-stable cryptocurrencies, helped by signs of easing inflationary pressure in the United States. Solana posted the largest gains and returned to the top 10 by market capitalization. BNB was the only token on the list to come across a report from the US Department of Justice that intensifies its investigation into token issuer and the world’s largest crypto exchange, Binance Global.

See Related Article: US Hedge Funds Subpoenaed in Binance Probe: Report

Fast factsBitcoin rose 0.6% to US$17,193 in the 24 hours to 8am in Hong Kong, an increase of 3% over the past calendar week. Ether gained 2.6% to US$1,321, a weekly gain of 8.8%, according to CoinMarketCap. Solana rose 13.7% to trade at US$16.29, a 44.5% gain for the week and the best start to the year for any major token. The gains follow the release of a new Solana-based, Dogecoin-themed token called Bonk. Released late last year, Bonk is now trading around $0.000001628, an increase of nearly 1400%. BNB fell 0.7% to $272.64 but is still up 11% in the past calendar week. Federal prosecutors reportedly issued subpoenas to several US hedge funds, requesting records of communications with Binance as part of its investigation into possible money laundering violations. The Cardanos ADA token gained 7.4% to $0.32, taking its weekly gains to 24.9%. The race began after ADA in 2022 entered the top 10 most used cryptocurrencies for payments for the first time, according to a Jan. 4 report from Lithuanian cryptocurrency payments processor CoinGate. Total crypto market capitalization rose 1.6% to $848.3 billion, while trading volume jumped 112.2% to $46.9 billion. US stocks had a mixed day of trading on Monday. The Dow Jones Industrial Average fell 0.3%, the S&P 500 lost 0.1%, while the Nasdaq Composite Index rose 0.6%. recession. The December US Consumer Price Index, a key measure of inflation, is released this week on January 12 and should provide further guidance on future Fed policy. Sweden, while Japan announces its CPI report for December.

See related article: Hong Kong moves forward with crypto hub plans as tech companies and startups show interest: Financial Secretary

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