Bitcoin and Ether strengthened in Asian trading on Wednesday afternoon, with Ether the biggest gainer among top 10 non-stablecoin cryptocurrencies that also generally increased.
- Bitcoin rose 2.68% in 24 hours to US$16,901 at 4:30 p.m. in Hong Kong, according to CoinMarketCap.
- Ether increased 5.22% to US$1,271. Ethereum’s monthly gas usage of Ethereum’s layer 2 ecosystem in November topped 100 billion for the first time, according to a chart by crypto entrepreneur Paolo Rebuffo on Dune Analytics. Gwei refers to very small amounts of Ether, which are typically used to calculate gas costs.
- Polygon gained 3.95% to US$0.87. The largest Solana-based crypto wallet Phantom on Tuesday announced that it will support assets from the Polygon and Ethereum blockchain ecosystems in three months. XRP strengthened 2.82% to US$0.403 even after major cryptocurrency exchange Coinbase on Tuesday announced plans to delist XRP.
- Dogecoin rose 3.28% to US$0.11, extending its gain from Nov. 22. Twitter CEO and longtime supporter of Dogecoin Elon Musk tweeted on Wednesday that Twitter’s service latency has declined by about 400 milliseconds and “should feel noticeably faster.”
- Asian stock markets were mixed after Wall Street fell overnight, with the Nikkei 225 down 0.21%, the Shanghai Composite up 0.05%, and Hong Kong’s Hang Seng higher by 1.82%.
- The Nikkei 225 has been declining since Nov. 24, with over 90% of economists expecting the Bank of Japan to unwind rather than strengthen its massive monetary easing, according to a Reuters poll on Tuesday.