July 20, 2024

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Bitcoin, Ether falls; Dogecoin leads retreat in top 10 cryptos

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Bitcoin and Ether weakened in Asian trading on Monday afternoon, with Dogecoin leading the decline across top 10 non-stablecoin cryptocurrencies.

See related article: Hong Kong mulls regulatory requirements for local licensed crypto exchanges: report 

Fast facts

  • Bitcoin dropped 1.47% to US$16,927 in the 24 hours to 4:30 p.m. in Hong Kong, and Ether decreased 2.36% to trade at US$1,245, according to CoinMarketCap.
  • Dogecoin slumped 9.33% to US$0.08787. Tron declined 4.82% to US$0.05218. The stablecoin USDD has lost its parity with the US dollar since mid-October, and was trading at US$0.97 at 4 p.m. in Hong Kong on Monday.
  • BNB decreased 3.27% to US$280.82. On Saturday, The Wall Street Journal questioned the reliability and transparency of proof-of-reserves released by BNB’s backer Binance.
  • Asia equity markets retreated. The Nikkei 225 dropped 0.21%, the Shanghai Composite Index inched down 0.87%, and Hong Kong’s Hang Seng Index slumped 2.2%.
  • China’s Covid case count is increasingly murky as the nation moves away from restrictions and contact tracing. Feng Zijian, an advisor on China’s Covid task force, said last week that the most recent surge could infect 60% of China’s population, which is more than 840 million people.

See related article: The Block CEO resigns after reports of undisclosed loans from Alameda Research 

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