Markets: Bitcoin price back under US$20,000, Ether little changed, XRP falls, Uniswap gains




  • In Business
  • 2022-09-28 01:46:47Z
  • By Forkast News
 

Bitcoin traded back in the US$19,000 range in Wednesday morning trading in Asia after breaching US$20,000 the previous day in a broader market surge. Ether was little changed, while Solana, Cardano and XRP on the list of top 10 by market capitalization lost ground.

See related article: Markets: Bitcoin price rises above US$20,000, XRP rebounds, Ether rallies

Fast facts

  • Bitcoin fell 0.6% in the past 24 hours to trade at US$19,105 at 8 a.m. in Hong Kong, while Ether dipped 0.4% to US$1,329, according to data from CoinMarketCap.

  • XRP led losses in CoinMarketCap's top 10, falling 4% to US$0.44 as it continued to lose ground after reaching a four month high of US$0.55 earlier in the week. XRP had been on a price run higher amid reports a summary judgment may be granted in the lawsuit between the U.S. Securities and Exchange Commission and XRP issuer Ripple Labs Inc., which would conclude the case without a trial.

  • Solana fell 3.3% to US$32.72 and the Cardano token lost 1.1% to US$0.44.

  • UNI, the native token of the Uniswap decentralized exchange (DEX) that ranks just outside the top 10 list, jumped 8.1% to US$6.39. The gains follow news last week that the Uniswap Foundation, the organization behind the DEX, had distributed US$1.4 million in grants to projects working on the network, the largest going to Uniswap Diamond, which will improve functions on Uniswap.

  • U.S. equities had a mixed day on Tuesday. The S&P 500 Index closed down 0.2%, as it recorded its longest losing streak since February 2020. The Dow Jones Industrial Average fell 0.4% to continue its fall into the bear market officially announced on Tuesday after it lost 20% from its recent peak. The Nasdaq Composite Index ended the day up 0.3%

  • Investors remain in the shadow of a widespread rise in interest rates as central banks around the world attempt to tamp down inflation, which is at a four decade high in the U.S. The U.S. Federal Reserve raised rates by 75 basis points last week and more increases are expected through the end of the year.

See related article: Ripple objects to SEC's relief suggestion in XRP lawsuit

COMMENTS

More Related News

This Week in Coins: Twitter Speculation Sends Dogecoin Higher, Bitcoin and Ethereum See Green
This Week in Coins: Twitter Speculation Sends Dogecoin Higher, Bitcoin and Ethereum See Green

ETH rose nicely even as the FTX drama continues. Brazilian lawmakers also took a significant step towards regulating cryptocurrencies.

Let
Let's Dispel Some Misconceptions About Wrapped Bitcoin and Ethereum

This week saw misinformation on Twitter about potential "insolvency" of WETH. None of that was accurate. Here's how wrapped coins work.

Crypto Stocks Teeter Near Abyss as Fink
Crypto Stocks Teeter Near Abyss as Fink's Warning Adds to Angst

(Bloomberg) -- Analysts and investors are struggling to call a bottom in crypto stocks in the wake of a brutal month that ended with the head of BlackRock...

U.S. says Swiss engineering group ABB to pay over $315 million to resolve bribery case
U.S. says Swiss engineering group ABB to pay over $315 million to resolve bribery case

WASHINGTON (Reuters) -Swiss engineering and technology group ABB Ltd agreed to pay more than $315 million to resolve an investigation into a bribery case at ...

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments

Top News: Business