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Bitcoin, Ether, Cardano, XRP fall; BNB gains on Binance Twitter investment

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Bitcoin and Ether fell in Monday morning trading in Asia, with most of the other top 10 cryptocurrencies by market capitalization excluding stablecoins falling. BNB turned a profit after token issuer and world’s largest cryptocurrency exchange Binance Global Inc. confirmed his investment in Twitter Inc. on Friday.

See related articles: Binance Confirms Stake in Elon Musk’s Twitter Acquisition

quick facts

  • Bitcoin fell 0.9% to US$20,631 in the 24 hours to 8 am in Hong Kong, while Ether fell 1.8% to US$1,590. Data from CoinMarketCapPolkadot rose 0.2% to US$6.65, Cardano fell 3.4% to US$0.40, and XRP fell 2.5% to US$0.45.

  • BNB is up 3.1% to USD 313.76 with a profit of 13.6% over the last 7 days. Binance Confirmed Friday Tesla will invest US$500 million as part of a US$44 billion investment by Tesla CEO Elon Musk to acquire the Twitter social media giant. Changpeng Zhao, founder and CEO of Binance, said: Forst.

  • Leading memecoin Dogecoin plunged 3.5% to $0.1177 after surging 95% in a week as longtime Doge supporter Musk bought Twitter. Dogecoin climbed two places to number eight on CoinMarketCap’s list of top 10 cryptos, and on Sunday he reached $0.1494, the highest since early May. Musk has floated his thoughts on increasing cryptocurrency integration with the platform in the future. Perhaps allow user Use Dogecoin to pay $3 USD per month for Twitter Blue, Twitter’s premium service.

  • The copycat memecoin Shiba Inu token suffered the biggest loss, dropping 7.6% to $0.00001193. However, up 17.5% over the past seven days, he moved up two places on CoinMarketCap’s list, overtaking Dai and Tron. His $0.00001488 price on Sunday was the highest since late August.

  • US stocks posted a strong gain on Friday. The S&P 500 Index rose 2.5% and the Nasdaq Composite Index he rose 2.9%. The Dow Jones Industrial Average rose his 2.6%, its fourth straight week of gains since November 2021.

  • The market was supported by the US Labor Department’s Cost of Employment Index released on Friday. This showed labor costs rose 1.2% in the third quarter from 1.3% in the previous quarter, suggesting inflation could ease if it had not yet peaked. . Pressure the US Federal Reserve (Fed) to keep raising rates in the coming months. A market analyst estimates he has an 80% chance of the Fed raising 75 basis points at its next meeting in November.

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