Markets: Bitcoin, Ether rise further; Dogecoin leads gains in top 10 cryptos

Bitcoin and Ethereum gained in Wednesday afternoon trading in Asia, while price movements of top 10 non-stablecoin cryptocurrencies were mixed, with Dogecoin leading gains.

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Fast facts

• Bitcoin, the largest cryptocurrency by market capitalization, inched up 0.73% to US$21,294 at 4.05 p.m. on Wednesday in Hong Kong, after gaining 22.03% in the past seven days of trading, according to CoinMarketCap data.

• Ethereum gained 1.16% to US$1,581 in the last 24 hours, and has gained 18.48% in the past week.

• Dogecoin strengthened 3.17% on the day and led gains among the top 10 non-stablecoin cryptocurrencies, to trade at US$0.08683. It posted a weekly gain of 12.67%.

• The Shiba Inu (SHIB) token increased 17.88% to US$0.00001235, a rise of 37.27% in the past week. The gain comes as the community awaits the beta release of Shibarium, a layer-2 network that will run on top of the Ethereum blockchain. “Some see Shibarium as a price pumping tool, but that is not the project’s focus and never has been,” the company’s announcement clarified.

• Polygon and Solana, which gained 16.63% and 42.63% respectively in the last seven days, dropped over 1% in Wednesday afternoon trade in Asia. Polygon’s Matic lost 1.13% to US$1, while Solana dropped 1.97% to US$22.94.

• Most Asian equity markets were up on Wednesday and have been on the rise since China reopened its border from a strict Covid-zero policy earlier this month. Hong Kong’s Hang Seng Index inched up 0.47%, Japan’s Nikkei 225 gained 2.5% and the Shenzhen stock exchange rose 0.09%.

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