Bitcoin, Ethereum edge up; BNB rises, Avalanche adds to gains on partnerships

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.

See related article: Bitcoin flat, Ether gains in late Asia trade; BNB still going strong on expanded staking

Fast facts

  • 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. 

See related article: Bitcoin education accelerates adoption, lowers volatility: Ben Caselin, AAX

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