Home Ethereum Bitcoin, Ethereum are progressing; BNB rises, Avalanche adds to gains on partnerships

Bitcoin, Ethereum are progressing; BNB rises, Avalanche adds to gains on partnerships

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Bitcoin, Ethereum are progressing;  BNB rises, Avalanche adds to gains on partnerships

Bitcoin and Ethereum rose early in the morning in Asia, along with most of the other tokens on the top 10 list by market capitalization. BNB rose 3.4% to US$325, adding to gains made last week when the Binance exchange, the issuer of BNB, announced it would add more tokens. Cardano briefly touched the 1-week high, up more than 5%, before pulling back.

See related article: Bitcoin Flat, Ether Gains in Late Asia Trade; BNB continues to be strong on expanded staking

Fast facts

  • Bitcoin was trading at US$23,292 as of 8:30 a.m. in Hong Kong, up 1.37% in the past 24 hours. Ethereum gained 1.26% to US$1,713, according to data from CoinMarketCap.
  • Cardano rose 3.5% to US$0.53 after founder Charles Hoskinson respond to criticism who said “Cardano is a religion without technology.”
  • Avalanche, which sits just outside CoinMarketCap’s Top 10 list, gained 7% to US$28.15 – its highest since early June – in a week of gains that saw it gain more by 18%.
  • Gains occur in the middle of a partnership announcement with game company Gamestar+ to bring interactive streaming games to Avalanche.
  • In macroeconomic news, United States employment figures released on Friday showed around 530,000 jobs were added in July, double the number expected by most analysts.
  • The surge is seen as a clear sign that the US Federal Reserve may propose another 75 basis point interest rate hike at its next meeting in September in an attempt to rein in inflation.

See related article: Bitcoin Education Accelerates Adoption and Reduces Volatility: Ben Caselin, AAX

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