Bitcoin and Ether were little changed in Asia on Friday morning, with most other tokens dropping in the top 10 list of non-stablecoin cryptocurrencies, with XRP and Polygon leading the losers. However, Cardano’s Ada token continued to rise.
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quick facts
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Bitcoin fell 0.13% to US$16,839 in the last 24 hours to 8am in Hong Kong. Ether fell 0.44% to $1,250, according to data from CoinMarketCap. Bitcoin is up over 1% in his first week of 2023, and Ether is up over 4% in his first week.
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XRP fell 2.71% to $0.338, down around 1.3% for the week. Polygon dropped 2.21% to $0.788, but over the past seven days he has maintained gains of more than 1%. Tron fell 1.85% to $0.0537, little changed this week.
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Cardano is the only top 10 cryptocurrency to rise, up 0.56% to $0.2691. Ada, the native token of the Cardano proof-of-stake blockchain, saw a 10% surge last week. One of the bullish factors is a report by her CoinGate, a payment processor, that the 2022 token has entered the top 10 list of most-used cryptocurrencies for the first time.
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The cryptocurrency market capitalization fell by 0.46% to $817.45 billion. Trading volume fell by 23.83% to US$27.26 billion.
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The collapse of the FTX exchange continued to rock the crypto industry in the first week of the new year, damaging companies associated with it. Cut 40% of staff after facing USD withdrawal. Cryptocurrency lender Genesis Global Trading is also reportedly slashing its workforce by 30% and considering filing for bankruptcy, the Wall Street Journal reported, citing people familiar with the matter.
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U.S. stocks closed lower on Thursday as recession fears resurfaced after the Federal Reserve announced its intention to tame inflation with a possible lengthy rate hike. . The Dow Jones Industrial Average fell his 1% and the S&P 500 Index fell his 1.16%. The Nasdaq Composite Index fell 1.47%.
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Some recent US indicators suggest inflation is easing. For example, the US Institute for Supply Control manufacturing index released this week fell to 48.4, indicating a contraction in the economy. But the Fed’s December meeting minutes released Wednesday showed it would maintain its policy of raising interest rates to keep inflation in check.
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The US Consumer Price Index (CPI) showed a 7.1% rise in November inflation compared to 2021, although it declined steadily from 7.7% in October and 8.2% in September. December CPI He will be released on January 12th.
See related articles: Silvergate cuts 40% of staff after covering $8.1 billion in withdrawals in FTX collapse.
