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Cryptocurrencies up amid Cardano’s Vasil hard fork, XRP leads gains

Bitcoin bounced above US$19,000 in Friday morning trading in Asia as Cardano announced a successful hard fork to their upgraded Vasil network. XRP led gains in the top 10 cryptocurrencies by market cap.

See related article: Cryptocurrency Lobbying Group Gets Court Clearance to Address SEC’s XRP Lawsuit vs Ripple

Quick Facts

  • According to CoinMarketCap, Bitcoin is up 4.2% in the last 24 hours to trade at $19,307 at 10:30 AM in Hong Kong. Ethereum gained 5.6% to trade at US$1,327, narrowing its decline to 9.6% over the past seven days.
  • Cardano’s token ADA was up after Input Output Hong Kong successfully announced hard forking of the Cardano blockchain this morning as part of the Vasil upgrade, a move expected to improve scalability and efficiency. ADA rose 4.2% to $0.46.
  • XRP led to gains among all cryptocurrencies, rising more than 20% to trade at US$0.49, following the grant of another motion that set December 9 as a deadline for third parties to file motions to submit evidence in the case. to seal.
  • XRP’s recent gains have helped it overtake Binance’s USD stablecoin as the sixth largest token by market capitalization. BNB traded 3.5% higher.
  • Gains in the cryptocurrency markets differed from falls in major US stock indices a day after the US Fed’s interest rate announcement in Hong Kong time on Thursday morning, with the agency signaling a more aggressive monetary tightening through 2023.
  • Overnight, the Dow Jones Industrial Average closed 0.4%, the S&P 500 Index 0.8% and the Nasdaq Composite Index 1.4%.

See related article: Markets: XRP Rebounds, Bitcoin Stuck Below $19,000, Ether Loses More Ground After Merger

Read:Bill Gates, Jeff Bezos, Sergey Brin, and other tech billionaires’ net worth dipped in 2022. They’re fine. 
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