Bitcoin, Ethereum rise in broad gains; Solana jumps, BNB adds to surge

Bitcoin and Ethereum rose in broad-based gains in cryptocurrencies that drove all other tokens higher in the top 10 list by market capitalization in afternoon trading in Asia on Monday.

See related article: Bitcoin, Ethereum edge up; BNB rises; Avalanche adds to gains on partnerships

Fast facts

• Bitcoin, the world’s largest cryptocurrency, added 3.3% in the 24 hours to 3:30 p.m. in Hong Kong to change hands at US$23,786. Ethereum rose 2.9% to trade at US$1,734,  according to data from CoinMarketCap.
• Solana saw the biggest gains in the CoinMarketCap top 10, jumping 6.7% to trade at US$42.63 as the network announced another update on the QUIC market rollout, a system that is expected to make the network more resistant to congestion.
• BNB continued its price surge that started last week when token issuer Binance said it was expanding staking options to more cryptocurrencies. BNB gained 5.3% to US$328.
• Polkadot also rose 5.3% to US$8.93, while Cardano gained 4.6% to change hands at US$0.54 after founder Charles Hoskinson hit back at critics who said “Cardano is a religion without tech.”
• Avalanche, which sits just outside the top 10 list, had a strong showing, gaining 9% to trade at US$28.46, its highest price since late May. The rise follows the announcement of a partnership with Gamestar+ to bring interactive streaming games to Avalanche.
• Asia equity markets were mixed, with the Shanghai Composite Index trading up 0.3%, while the Hang Seng fell 0.7%. Japan’s Nikkei 225 Index also added 0.3% to set a four-month high as the yen’s weakness was seen aiding profits at domestic companies with large sales overseas.

See related article: Why crypto and DeFi are key to building wealth in times of high inflation