Markets: Bitcoin, Ether Rise; BNB Is Biggest Loser In Top 10 Cryptos

Republished By Plato

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Bitcoin and Ether rallied in Asian trading on Tuesday afternoon. BNB was the biggest loser across the top 10 non-stablecoin cryptocurrencies.

Fast facts

Bitcoin increased 1.51% to US$17,182 in the 24 hours to 4:30 p.m. in Hong Kong, and Ether rose 1.72% to trade at US$1,267, according to CoinMarketCap.
BNB decreased 5.11% to US$266.48. In the past 24 hours until Tuesday morning, Binance’s net outflow stood as high as US$902 million. Reuters reported on Monday that U.S. prosecutors have evidence that Binance violated “anti-money laundering and international sanctions,” and can charge several top executives immediately, including CEO Changpeng Zhao.
“Ignore FUD (fear, uncertainty and doubt). Keep building!” said Zhao on Twitter on Monday after Reuters’ report was published.
XRP rose 2.42% to US$0.3829. Charles Hoskinson, founder of blockchain network Cardano, said on Saturday that he had heard rumors that Ripple’s lawsuit with the US Securities and Exchange Commission would end with a settlement in recent days.
Tron gained 1.35% to US$0.05287. After the Justin Sun-backed algorithmic stablecoin USDD lost its parity with the US dollar and fell below US$0.97 on Monday, Sun tweeted that more than US$203,000 in USDC and US$570,000 in USDT have been swapped for USDD to back the dollar. As of 5 p.m. in Hong Kong, USDD remained below US dollar parity and was trading at US$0.9755.
Asia markets were mixed following Wall Street’s rally overnight. The Nikkei 225 dropped 0.4%, the Shanghai Composite Index inched down 0.085%, and Hong Kong’s Hang Seng Index rose 0.68%.
Hong Kong said Tuesday it will lift all restrictions on entry to the city starting Wednesday, after China significantly eased Covid-19 restrictions. Hong Kong’s gross domestic product is estimated to grow 7.6% as exports and tourism revenue could climb after China’s reopening, reported Hong Kong local media The Standard on Monday, citing a Goldman Sachs report.