Bitcoin, Ethereum little changed; Solana still lower after network hack

Bitcoin was trending lower to little-changed in early Asia trading on Thursday with most major cryptocurrencies losing ground. Solana remains lower after reports of a hack on its network. Bitcoin was priced at US$22.848 as of 8 am in Hong Kong, off 0.6% in the last 24 hours. Ethereum dipped 0.8% to US$1,615, according to data from CoinMarketCap.

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Fast facts

• Solana saw the biggest losses in CoinMarketCap’s top ten list by market cap, trading down 6.53% to US$38.36, continuing its losses from Wednesday amid reports of hacks on the network that had caused wallets to be drained.

• BNB was one of two top ten cryptos to buck the downtrend, rising 5% to change hands at US$297.46, amid reports Binance, the issuer of BNB, was offering staking services for more tokens. Cardano edged up 0.8% to US$0.50.

• Further down the list, the decentralized finance (DeFi) token Uniswap rose 7.16% to US$9.00.

• Traditional stock markets fared better overnight; the Nasdaq Composite closed 2.6% higher on Wednesday, while the Dow Jones Industrial Average gained 1.3% and the S&P 500 Index finished up 1.6%.

• The gains in equities came as the speaker of the US House of Representatives Nancy Pelosi left Taiwan Wednesday afternoon after a diplomatic visit that escalated tensions between China and the US and raised fears of a potential military confrontation.

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