Bitcoin prices rose Wednesday morning in Asia amid a week of volatile price movements in end-of-year trading. Ether gained after credit-card giant Visa said it’s exploring how to introduce recurring, automatic payments for self-custodial Ethereum wallets. Other non-stablecoin top 10 cryptocurrencies also moved higher.
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- Bitcoin gained 2.9% to US$16,890 in the 24 hours to 8:15 a.m. in Hong Kong, while Ether rose 4.3% to trade at US$1,215, according to CoinMarketCap.
- The global crypto market cap rose 2.8% to $814 billion in the past 24 hours, while total trading volume surged 22% to US$37.9 billion. Arcane Research in a note said Bitcoin volatility hit December highs and lows in the past seven days, while Bitcoin’s correlation to U.S. equities grew in the same period.
- BNB rebounded 4.4% to change hands at US$250.37 in the biggest gain in the top ten list after a slump that saw clients last week pull billions of dollars of investments from the Binance exchange, the token’s issuer, amid reports it may face a U.S. legal investigation.
Questions have also been raised about the comprehensiveness of a published review of the exchange’s reserves. The token is still down 8% for the past seven days.
- Dogecoin jumped 4.2% to trade at US$0.074. The memecoin made up some ground from heavy losses on speculation long-time memecoin supporter Elon Musk will resign as head of Twitter. Musk had previously said he may use Dogecoin as a payment system on Twitter. The token is still down more than 18% on the week.
- Polygon’s token Matic gained 3.8% to US$0.79 following Polygon co-founder Sandeep Nailwal announcing Beacon, a Web3 accelerator program. The program is headed by Nailwal and includes other leaders in the digital asset industry. It will focus on the creation of software to improve discussions and transparency between developers and investors.
- U.S. equities rose on Tuesday. The Dow Jones Industrial Average gained 0.3%, the S&P 500 Index ended up 0.1% and the Nasdaq Composite Index rose less than 0.1%.
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