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Markets: Bitcoin, Ether slip; Dogecoin leads decline across most top 10 cryptos

Markets: Bitcoin, Ether slip; Dogecoin leads decline across most top 10 cryptos

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Bitcoin and Ether fell in Asian trading on Thursday afternoon, with other top 10 non-stablecoin cryptocurrencies also mostly down. Dogecoin, XRP and BNB were the biggest losers.

Fast facts

  • Bitcoin declined 0.77% over the past 24 hours and was trading at US$16,957 by 4:30 p.m. in Hong Kong, and Ether inched down 0.37% to US$1,276, according to CoinMarketCap.
  • Dogecoin fell 3.58% to US$0.09918. Twitter CEO and Dogecoin supporter Elon Musk on Friday banned Kanye West from Twitter for an “incitement to violence” after the controversial rapper posted a photo that appeared to show a swastika intertwined with the Jewish star symbol.
  • BNB decreased 3.04% to US$289.48, down 2.07% over the past seven days. The BNB chain-based decentralized financial protocol Ankr encountered a vulnerability exploit with the attacker gaining over US$5 million of USDC. Ankr is in contact with decentralized exchanges to stop the transactions.
  • XRP dropped 2.71% to US$0.3899, down 4.8% over the past seven days, reflecting the crypto community’s response to crypto exchange Coinbase delisting XRP.
  • Asian markets fell after Wall Street closed mixed overnight. The Nikkei 225 dropped 1.59%, the Shanghai Composite Index slipped 0.29% and Hong Kong’s Hang Seng Index fell 0.19%.
  • International Monetary Fund managing director Kristalina Georgieva on Friday said she will travel to Beijing next week with other international agencies’ officers to urge faster action on debt relief for developing countries, according to Reuters.
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