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Markets: Bitcoin, Ethereum gain amid broad crypto rally; Polkadot jumps

·1 min read

Bitcoin and Ethereum led broad gains among the top 10 cryptocurrencies by market capitalization on Tuesday morning in Asia. Bitcoin touched US$24,203 at one point overnight, its highest since July 31. Ethereum rallied to US$1,806, its highest since early June.

See related article: Markets: Bitcoin, Ethereum rise in broad gains; Solana jumps; BNB adds to surge

Fast facts

  • Bitcoin gained 2.7% to trade at US$23,801 and Ethereum 4.4% to US$1,774 in the 24 hours to 8 a.m. in Hong Kong, according to data from CoinMarketCap.

  • Polkadot saw the largest gain among CoinMarketCap’s top 10 tokens, adding 7.3% to change hands at US$9.28, while Solana was up 3.6% to US$42.08.

  • Others saw more modest gains, with XRP rising 1.6% to US$0.378 and Cardano adding a similar percentage gain to US$0.53.

  • Equity markets were little changed in the U.S. overnight. The Dow Jones Industrial Average closed up 0.1%, while the S&P 500 Index and the Nasdaq Composite Index both finished down 0.1%.

  • Investors are awaiting the release of three inflation readings in the U.S. this week, the Consumer Price Index, the Producer Price Index, and unit labor costs, which measure all wages paid to employees.

See related article: New US bill to give CFTC oversight of cryptocurrencies may speed up crypto legislation in other markets