Markets: Bitcoin, Ethereum rise in broad gains; Solana jumps; BNB adds to surge
Bitcoin and Ethereum rose in broad-based gains in cryptocurrencies that drove all other tokens higher in the top 10 list by market capitalization in afternoon trading in Asia on Monday.
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Fast facts
Bitcoin, the world’s largest cryptocurrency, added 3.3% in the 24 hours to 3:30 p.m. in Hong Kong to change hands at US$23,786. Ethereum rose 2.9% to trade at US$1,734, according to data from CoinMarketCap.
Solana saw the biggest gains in the CoinMarketCap top 10, jumping 6.7% to trade at US$42.63 as the network announced another update on the QUIC market rollout, a system that is expected to make the network more resistant to congestion.
BNB continued its price surge that started last week when token issuer Binance said it was expanding staking options to more cryptocurrencies. BNB gained 5.3% to US$328.
Polkadot also rose 5.3% to US$8.93, while Cardano gained 4.6% to change hands at US$0.54 after founder Charles Hoskinson hit back at critics who said “Cardano is a religion without tech.”
Avalanche, which sits just outside the top 10 list, had a strong showing, gaining 9% to trade at US$28.46, its highest price since late May. The rise follows the announcement of a partnership with Gamestar+ to bring interactive streaming games to Avalanche.
Asia equity markets were mixed, with the Shanghai Composite Index trading up 0.3%, while the Hang Seng fell 0.7%. Japan’s Nikkei 225 Index also added 0.3% to set a four-month high as the yen’s weakness was seen aiding profits at domestic companies with large sales overseas.
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