Markets: Bitcoin, Ether slide; BNB leads gains across top 10 cryptos
Bitcoin and Ether prices dropped on Wednesday morning in Asia while other non-stablecoin top 10 cryptocurrencies posted mixed results with BNB leading gains.
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Fast facts
Bitcoin dropped 1.49% to US$16,707 in the 24 hours to 8:15 a.m. in Hong Kong, while Ether lost 1.39% to trade at US$1,212, according to CoinMarketCap.
The global cryptocurrency market capitalization was down 0.9% to US$807.38 billion in the past 24 hours, while total trading volume surged 28.07% to US$27.33 billion.
BNB rebounded 0.68% to change hands at US$246.5, despite reports of Binance France and its parent company, Binance Holdings, facing a lawsuit in France for alleged misleading business practices and fraudulent concealment. Binance was reportedly sued by 15 investors in France in a complaint filed on Dec. 14.
Dogecoin extended its holiday losses by 2.77% on Tuesday to US$0.07375. The memecoin has been on a losing streak since Twitter owner Elon Musk, an influential supporter of the cryptocurrency, announced that he would be stepping down as the company’s chief executive officer.
Several global markets have been boosted by China’s announcement on Monday to scrap inbound Covid quarantine rules from Jan. 8, including the Dow Jones Industrial Average which closed 0.11% higher on Tuesday.
However, the S&P 500 closed Tuesday down 0.40%, while the Nasdaq Composite dropped 1.38%, as reports hinted that housing price growth in the U.S. has started to slow down in 2022.
