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Markets: Bitcoin, Ether fall; Dogecoin outperforms, Cardano edges higher

·2 min read

Bitcoin and Ether fell amid a mixed performance from the rest of the tokens in the top 10 by market capitalization on Wednesday morning in Asia. Leading memecoin Dogecoin outpaced the rest on the list, continuing its recent price run-up that took it back into the top 10.

See related article: Markets: Bitcoin, Ether fall in Asia trade amid growing concern about China’s economy

Fast facts

  • Bitcoin dipped 1.8% over the past 24 hours to trade at US$23,884 as of 8 a.m. in Hong Kong. Ether fell 1.4% to change hands at US$1,878, according to data from CoinMarketCap. Bitcoin is still up 3.6% over the past week, while Ether has gained 11%. 

  • Dogecoin rose 13.5% to US$0.087 after earlier touching US$0.088, the highest for the memecoin since early June. It’s up 25.8% over the past 7 days.

  • Cardano was the second-biggest mover, gaining 1.2% to US$0.55, while Solana lost 1.5% to US$43.16.

  • Ethereum Classic (ETC) fell 5.1% to US$39.94, reflecting recent price volatility for the token ahead of September’s “Merge” for the main Ethereum network.

  • U.S. equity markets had a mixed day. The Nasdaq Composite Index closed down 0.2% while the Dow Jones Industrial Average finished up 0.7% and the S&P 500 Index gained 0.2%.

  • Investors await the U.S. Federal Open Market Committee minutes on Wednesday for insights into how the U.S. Federal Reserve views inflation, and likely interest rate moves at its next meeting in September. They are also eyeing developments in China as a slump in the real estate market and industrial output point to a worsening slowdown in the world’s second-biggest economy.

See related article: Crypto exchanges’ race to the bottom on fees scalps Eqonex