Bitcoin, Ether rise with SOL leading winners in top 10 cryptos
Bitcoin and Ether rose during Thursday afternoon trading in Hong Kong, along with most other top 10 non-stablecoin cryptocurrencies by market capitalization. The SOL token saw the biggest gain in the top 10, following its new partnership with e-commerce giant Shopify.
See related article: Weekly Market Wrap: Bitcoin falls below US$26,000 following Evergrande’s bankruptcy
SOL leads winners as Bitcoin, Ether rise with most top 10 cryptos
Solana’s SOL token rose 4.33% in the 24 hours to 4:30 in Hong Kong to US$20.79, as the day’s biggest gainer in the top 10, after Solana announced partnering Shopify to offer crypto payments with no transaction fees on the e-commerce platform via Solana Pay, a peer-to-peer payments protocol built on the blockchain. Despite the good news, SOL remained near a six-week low.
Bitcoin was little changed during afternoon trading in Asia, changing hands at US$26,430 as of 4:30 p.m. in Hong Kong after it briefly rose to the US$26,769 mark earlier today.
Despite today’s small rally, Lucas Kiely, the chief investment officer of digital asset platform Yield App, said that returning to US$25,000 remained a possibility.
“US$25,000 is the level where BlackRock filed for a spot Bitcoin ETF. There is support at that level. Investors will be spooked if Bitcoin falls below that level. After that level, Bitcoin could fall to approximately US$19,870, which represents the level where Silicon Valley Bank failed,” wrote Kiely, in a statement shared with Forkast.
“When SVB failed, Bitcoin rocketed to US$31,000 before moving sideways. BlackRock and other firms then made their Bitcoin ETF announcements, and Bitcoin ripped again.”
Ether rose 0.59% during afternoon trading in Asia to US$1,671 bringing its weekly losses to 6.92%.
Tron’s (TRX) token rose 1.73% in the past 24 hours to US$0.077, bouncing back from a two-month low of US$0.073 on June 25.
Total crypto market capitalization over the past 24 hours rose 1.45% to US$1.07 trillion while market volume decreased 8.66% to US$32.44 billion, according to CoinMarketCap data.
Read More
Bitcoin, Ether rise with SOL leading winners in top 10 cryptos
Bitcoin and Ether rose during Thursday afternoon trading in Hong Kong, along with most other top 10 non-stablecoin cryptocurrencies by market capitalization. The SOL token saw the biggest gain in the top 10, following its new partnership with e-commerce giant Shopify.
See related article: Weekly Market Wrap: Bitcoin falls below US$26,000 following Evergrande’s bankruptcy
SOL leads winners as Bitcoin, Ether rise with most top 10 cryptos
Solana’s SOL token rose 4.33% in the 24 hours to 4:30 in Hong Kong to US$20.79, as the day’s biggest gainer in the top 10, after Solana announced partnering Shopify to offer crypto payments with no transaction fees on the e-commerce platform via Solana Pay, a peer-to-peer payments protocol built on the blockchain. Despite the good news, SOL remained near a six-week low.
Bitcoin was little changed during afternoon trading in Asia, changing hands at US$26,430 as of 4:30 p.m. in Hong Kong after it briefly rose to the US$26,769 mark earlier today.
Despite today’s small rally, Lucas Kiely, the chief investment officer of digital asset platform Yield App, said that returning to US$25,000 remained a possibility.
“US$25,000 is the level where BlackRock filed for a spot Bitcoin ETF. There is support at that level. Investors will be spooked if Bitcoin falls below that level. After that level, Bitcoin could fall to approximately US$19,870, which represents the level where Silicon Valley Bank failed,” wrote Kiely, in a statement shared with Forkast.
“When SVB failed, Bitcoin rocketed to US$31,000 before moving sideways. BlackRock and other firms then made their Bitcoin ETF announcements, and Bitcoin ripped again.”
Ether rose 0.59% during afternoon trading in Asia to US$1,671 bringing its weekly losses to 6.92%.
Tron’s (TRX) token rose 1.73% in the past 24 hours to US$0.077, bouncing back from a two-month low of US$0.073 on June 25.
Total crypto market capitalization over the past 24 hours rose 1.45% to US$1.07 trillion while market volume decreased 8.66% to US$32.44 billion, according to CoinMarketCap data.
Read More