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Bitcoin trades above US$22,000, Ether slips back, Solana rises

Bitcoin rose back above US$22,000 in Monday afternoon trading in Asia, while Ether slipped. Solana saw the second-biggest gain among the 10 largest coins by market capitalization after Bitcoin, while the rest of the top 10 were little changed.

See related article: Markets: Bitcoin sole gainer in crypto top ten, Ether dips, Polkadot leads losers

Fast facts

  • Bitcoin traded up 2.74% in the past 24 hours to US$22,182 as of 4 p.m. in Hong Kong, according to data from CoinMarketCap. Ether dipped 0.23% to change hands at US$1,757.
  • Both Bitcoin and Ether logged double-digit price growth over the past seven days in anticipation of Ethereum’s long-awaited network “Merge” that is expected to conclude in the middle of this week.
  • Solana rose 2.5% to US$35.45, while the number of non-fungible tokens minted on the Solana blockchain reached a new high last week, data from The Block Research showed. Solana gained 11.87% over the past seven days.
  • Asia equity markets rose. The Nikkei 225 closed up 1.16%, and MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.51%. The stock markets in mainland China, Hong Kong and South Korea were closed for a public holiday.
  • The August U.S. consumer price index is set to be released on Tuesday, which is another signal on the state of inflation for the Federal Reserve’s policy on interest rate adjustments. Investors are expecting the Fed to raise rates by 75 basis points at its meeting scheduled for Sept. 20 and 21.

See related article: SEC to open digital asset office as it cranks up regulatory scrutiny of cryptocurrencies


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