Home Ethereum Bitcoin, Ether Trend Down, BNB Adds to Gains, Flow Jumps on Meta NFT Integration

Bitcoin, Ether Trend Down, BNB Adds to Gains, Flow Jumps on Meta NFT Integration

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Bitcoin, Ether Trend Down, BNB Adds to Gains, Flow Jumps on Meta NFT Integration

It was a mixed bag for the top 10 cryptocurrencies on Friday morning in Asia, with most trading within 1%. Bitcoin plunged, while BNB continued its breakout run for a second day. Bitcoin was trading at US$22,612 as of 8 a.m. in Hong Kong, down 1% in the past 24 hours. Ethereum slid 0.7% to US$1,607, according to data from CoinMarketCap.

See related article: Bitcoin, Ethereum have changed little; Solana even lower after network hack

Fast facts

  • BNB gained 4.6% to change hands at US$311.18, after reports Thursday that Binance, the issuer of BNB, was expanding its staking service offerings to more cryptocurrencies. Investors also seem to be enjoying the news that co-founder Yi He is set to Binance Labs Managerthe venture capital and accelerator arm of the company.
  • The Flow token gained 40% to trade at US$2.58 – the highest since early June – following the announcement that Meta (formerly Facebook) will enable Flow-based non-fungible token (NFT) integration with Instagram in over 100 countries.
  • Stock markets also traded mixed amid lingering concerns over U.S.-China tensions over Taiwan and ahead of Friday’s release of U.S. nonfarm payrolls figures, a leading economic indicator.
  • The Nasdaq Composite closed up 0.4% on Thursday, while the Dow Jones Industrial Average lost 0.3% and the S&P 500 index ended down 0.8%.
  • The Bank of England also raised interest rates by 50 basis points on Thursday to 1.75% – its biggest rise in 27 years – while warning that a recession could last more than 12 months and that the inflation could reach 13% in the country by the end of the year.

See related article: Meta’s attempts to build a metaverse will ‘fail’: Vitalik Buterin

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