Bitcoin rose above US$24,000 in Monday afternoon trade in Asia while all other top 10 non-stablecoin cryptocurrencies were mixed. Ether gained 0.18%, while Solana strengthened the most across the top 10 cryptos.
See related article: Trust in crypto is in shambles. How can we rebuild it?
Fast facts
- Bitcoin, the largest cryptocurrency by market capitalization, lost 0.39% to US$24,511 in 24 hours to 4 p.m. in Hong Kong, and has risen 12.06% in the past seven days. Ether gained 0.18% to US$1,697, after increasing 11.42% on the week, according to CoinMarketCap.
- Solana’s native token rose 12.58% to US$26.51 after Helium blockchain, a protocol specializing in decentralized wireless infrastructure, announced it will migrate to Solana’s blockchain on Mar. 27.
- Polygon’s Matic token fell the most among top 10 cryptos, by 1.77% to US$1.49, but gained 22.72% over the past week.
- Asian equity markets gained on Monday after China’s central bank kept its key lending rates unchanged, in line with expectations. Strategists at Goldman Sachs expect China’s reopening and economic recovery to boost Chinese stocks by as much as 24% by the end of the year.
- Hong Kong’s Hang Seng Index rose 0.81% on Monday while the Shenzhen Component Index gained 2.03%. The Shanghai Composite strengthened 2.06% and Japan’s Nikkei 225 inched up 0.07%.
- European equities headed for a higher open on Monday, with the DAX and Stoxx 600 futures down 0.3% in pre-market trading. Investors are awaiting the release of U.S. consumer confidence data and Eurozone construction output, a business cycle indicator measuring monthly changes in the price adjusted output of construction.
- See related article: Weekly Market Wrap: Bitcoin rises above US$23,000 after its first weekly ‘death cross’
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