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Bitcoin, Ether extend rise; Cardano leads gains

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Bitcoin, Ethereum extended gains in afternoon trade in Asia on Monday along with the top 10 non-stablecoin cryptocurrencies by market capitalization. Cardano rose the most in the last 24 hours, followed by Polygon, BNB and Dogecoin.

See related article: U.S. subpoenas hedge funds in Binance probe: report 

Fast facts

  • Bitcoin rose 1.53% to US$17,210 at 4 p.m. in Hong Kong on Monday. The largest cryptocurrency by market capitalization has gained 2.85% in the last seven days of trading.
  • Ethereum strengthened 3.78% to US$1,311, and has gained over 8% in the past seven days. Most cryptocurrencies have been on a rising streak since the release of latest U.S. jobs data that led to a Wall Street rally.
  • Cardano gained the most – up 17.7% to US$0.3257 – and has gained 28.32% in the past seven days. 
  • BNB increased 6.61% to US$278.13 after gaining over 12% in the past seven days. Polygon’s Matic token rose 6.79% to US$0.8571 while Dogecoin gained 4.22% to US$0.07495. 
  • XRP rose 2.5% to US$0.349 in Monday afternoon trading and has risen 3.21% over the past seven days. The gain follows Ripple Labs Inc.’s statement that it expects a court decision in the first half of 2023 for the case filed against it by the U.S. Securities Exchange Commission. 
  • Asian markets gained on Monday as Hong Kong and China resumed quarantine-free travel after almost three years of restrictions. The Shanghai Stock Exchange inched up 0.58% at day’s close while Hong Kong’s Hang Seng Index gained 1.89%, and South Korea’s Kospi rose 2.63%. 
  • Hong Kong on Monday said it will stay on top of development of the Web 3.0 industry in spite of a series of collapses across crypto exchanges in 2022. 
  • See related article: How Hong Kong and Singapore can make Asia the center of crypto’s future

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