Bitcoin reclaims US$30,000, Ether wins, Cardano leads winners as top 10 cryptos rise

[ad_1]

Bitcoin rose Monday morning in Asian trading to recover the support level of US$30,000. Ether rose to nearly US$1,900, while most of the other top 10 non-stable cryptocurrencies also saw gains. The Cardanos ADA token led the winners. In other markets, NFTs traded flat, while US stock futures did the same. Major equity indices had a mixed performance last week and the week ahead brings more earnings and the Federal Reserve meeting on Wednesday, where it is expected to raise interest rates.

Crypto

Bitcoin is up 1.33% in the past 24 hours to hit US$30,059 as of 7:30 a.m. HK, according to data from CoinMarketCap. Ether gained 1.73% to US$1,887.

However, both tokens have yet to make up for the past seven-day losses, with Bitcoin down 0.37% for the week, while Ether sits on a weekly loss of 1.73%.

Most of the other top 10 non-stable cryptocurrencies also traded higher on Monday, with the Cardanos ADA token leading the gainer with a 3.01% gain to $0.3169 and up 0.59% for the week.

Input Output Global, one of the developers behind the Cardano blockchain, said last week that Mithril, a Cardano stake-based signature scheme, is nearing its mainnet launch to improve node synchronization and security of the Cardano network.

On the regulatory front, part of the courts’ recent verdict in the Ripple case was ill-decided, the U.S. Securities and Exchange Commission (SEC) said Friday in filings in its ongoing lawsuit against Singapore-based Terraform Labs, hinting that the SEC would challenge Ripple’s ruling.

In February, the SEC accused Singapore-based Terraform Labs Pte and its co-founder Do Hyeong Kwon of orchestrating a multi-billion dollar crypto asset securities fraud involving an algorithmic stablecoin and other crypto asset securities.

The total crypto market cap increased by 1.14% in the past 24 hours to US$1.20 trillion, while trading volume increased by 13.56% to US$24.5 billion.

[ad_2]