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Bitcoin, Ether rise as most top 10 cryptos rally

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Bitcoin and Ether inched up in Friday evening trade in Asia with most other top 10 cryptocurrencies by market capitalization, excluding stablecoins. Dogecoin and Solana lost ground for a second consecutive day.

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Fast facts

  • Bitcoin gained 0.89% in the past 24 hours to trade at US$16,750 at 4 p.m. in Hong Kong, and Ether led gains among top 10 cryptos with a rise of 0.91% to US$1,215, according to data from CoinMarketCap
  • Cardano inched up 0.28% to US$0.33, Polygon rose 0.08% to US$0.89 and Shiba Inu gained 0.44% to change hands at US$0.00000915. XRP traded 0.64% higher at US$0.38 after U.S. lobby group Blockchain Association filed amicus briefs in support of Ripple Labs – whose payment network is powered by XRP – in its court case against the U.S. Securities and Exchange Commission.
  • Solana led losses among the top 10 cryptos, dropping 4.41% to US$13.62, with some US$300,000 separating Solana from the 11th-ranking crypto Tron. Dogecoin was the only other top 10 token to decline, falling 0.49% to US$0.085, now 3.03% down the week, following market talk of a potential mass walkout by Twitter employees over a hardline memo sent by Twitter CEO and Dogecoin proponent, Elon Musk.
  • Asia equity markets fell following Wall Street’s losses overnight. The Nikkei 225 fell 0.11% in Tokyo, the Shanghai Composite Index fell 0.58% and the Hong Kong Hang Seng Index slipped 0.29%. 
  • Downbeat inflationary reports continued Friday as Japan announced its annual inflation rose from 3% for September to 3.7% for October, far surpassing forecasts of 3.2%. 
  • U.K. markets reacted positively to the announcement that the GfK consumer confidence for November strengthened from -47 to -44, defying forecasts of a drop to -51, though it remained close to the record low of -49 in September.

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