Bitcoin, Ether, Reject 500 NFT Index Rise; gold nears annual high on concerns in the banking sector

Bitcoin and Ether rose during Asian trading hours on Friday, along with most of the top 10 non-stablecoin cryptocurrencies by market capitalization, with Litecoin posting the biggest gains. Most Asian shares were down, after Hong Kong’s central bank warned of a potential spillover from the US banking crisis. Concerns over the health of the banking system also boosted gold prices to near one-year highs.

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Fast facts

• Bitcoin rose 1.92% to US$28,195 in the 24 hours to 16:30 in Hong Kong. Ether gained 3.16% to change hands at $1,809, according to CoinMarketCap data.
• Most of the top 10 cryptos also rose on the day, with Litecoin rising 6.95% to US$93.88 as the day’s biggest gainer, followed by Ether. XRP fell 4.42% to $0.43 as the biggest loser of the day.
• The global cryptocurrency market cap rose 1.7% to $1.18 trillion in the 24 hours to 4:30 p.m. in Hong Kong, with total crypto market trading volume down 19.6% to $54.47 billion.
• The Dump 500 NFT index rose 0.44% on the day to 4,124.20 points, and was up 0.7% for the week.
• Most Asian stocks edged lower on Friday, despite Wall Street’s overnight gains, reflecting investor caution after Hong Kong’s central bank warned of further spillovers from US regional banks.
• The Shanghai Composite fell 0.64% while the Shenzhen Component Index rose 0.25%. Japan’s Nikkei 225 fell 0.13% and Hong Kong’s Hang Seng ended the day 0.67% lower.
• European stock markets fell on Friday amid lingering concerns over the health of the banking sector and the possibility of further monetary policy tightening. The Stoxx 600 fell 1.06% and the DAX 40 lost 1.43%.
• The European banking index lost 1% on the day. UBS Group ( UBSG ) shares fell 5.28% while Credit Suisse ( CSGN ) shares fell 5.82%, following reports that the US Justice Department is investigating the banks to determine whether they helped Russian oligarchs avoid sanctions.
• Gold fell 0.15% to $1,990 an ounce, near a one-year high, as investors worried about the health of the banking system and continued to digest the impact of the Federal Reserve’s widely expected 25 basis point rate hike.

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