Home Ethereum Solana falls amid reports of hacking; Bitcoin, Ether upper edge

Solana falls amid reports of hacking; Bitcoin, Ether upper edge

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Solana falls amid reports of hacking;  Bitcoin, Ether upper edge

Solana fell 4% in afternoon trade in Asia on Wednesday as reports have surfaced of a hack which had emptied thousands of wallets containing the token. Bitcoin and Ethereum edged higher, although US-China tensions were a broader concern across all markets. Bitcoin was trading at US$23,187 as of 4:30 p.m. in Hong Kong, up 1.47% over the previous 24 hours. Ethereum was trading at US$1,636, up 3.19%, according to data from CoinMarketCap.

See related article: Solana hack affects over 7,000 Phantom, Slope wallets

Fast facts

  • Solane to exploit Wednesday had resulted in losses of $8 million as of noon Hong Kong time, according to estimates from cryptographic security company PeckShield. Solana fell 4% to US$38.75.
  • Other CoinMarketCap top 10 tokens either traded higher or remained little changed.
  • Cautiousness appeared to prevail in Asia, including in equity markets, as traders worried about any Chinese response to US House Speaker Nancy Pelosi’s visit to Taiwan.
  • The Shanghai Composite fell 0.71% as Hong Kong’s Hang Seng and Japan’s Nikkei 225 indexes were little changed.
  • Markets are in cautious mode amid Pelosi’s visit, which drew condemnation from Beijing and heightened tensions between China and the United States, said market analyst and former stockbroker Andrew Sullivan.
  • “The caution is not so much about the trip, which was reasonably well advertised and had been talked about for a few weeks. I think the caution is more about China’s response,” Sullivan said.

See related article: Bitcoin Falls in Market Downtrend, ETH Staggers, ETC and CRO Rise

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