Bitcoin and Ethereum rose in early morning trading in Asia, along with most other tokens on the top 10 list by market capitalization. BNB rose 3.4% to reach US$325, adding to gains made last week when the Binance exchange, the BNB issuer, said it would add more tokens. Cardano briefly touched a week’s high, up more than 5%, before edging back.
- Bitcoin traded at US$23,292 at 8:30 a.m. in Hong Kong, up 1.37% in the last 24 hours. Ethereum gained 1.26% to US$1,713, according to data from CoinMarketCap.
- Cardano was up 3.5% at US$0.53 after founder Charles Hoskinson hit back at critics who said “Cardano is a religion without tech.”
- Avalanche, which sits just outside CoinMarketCap’s top 10 list, gained 7% to US$28.15 — its highest since early June — in a weeklong surge that has seen it gain more than 18%.
- The gains come amid an announcement of a partnership with gaming firm Gamestar+ to bring interactive streaming games to Avalanche.
- In macroeconomic news, U.S. employment figures released on Friday showed that roughly 530,000 jobs were added in July, double the number expected by most analysts.
- The surge is seen as a clear sign the U.S. Federal Reserve may deliver another 75-basis point increase in interest rates at its next meeting in September to try and brake inflation.
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