With the exception of stablecoins, most of the top ten cryptocurrencies by market capitalization, including Bitcoin and Ether, increased in price on Friday evening trade in Asia. For the second day in a row, Dogecoin and Solana both lost ground. According to data from CoinMarketCap, Ether led advances among the top 10 cryptocurrencies with a rise of 0.91% to US$1,215, as Bitcoin gained 0.89% in the last 24 hours to trade at US$16,750.
On the other hand, Shiba Inu gained 0.44% to trade at US$0.00000915, CapCardano increased by 0.28% to US$0.33, Polygon increased by 0.08% to US$0.89, and so did Polygon. After the U.S. advocacy group Blockchain Association submitted amicus papers in support of Ripple Labs, whose payment network is powered by XRP, in its legal battle with the U.S. Securities and Exchange Commission, XRP traded 0.64% higher at US$0.38.
However, with a loss of 4.41% to US$13.62 and a distance of about US$300,000 from Tron, the 11th-ranked cryptocurrency, Solana led the losses among the top 10 cryptocurrencies. Dogecoin was the only other top 10 token to experience a decline, falling 0.49% to US$0.085, now 3.03% lower on the week, as a result of market speculation regarding a potential mass Twitter employee walkout in response to a hardline memo sent by Elon Musk, the CEO of Twitter and a proponent of Dogecoin.
Meanwhile, despite the rise, Tokyo’s Nikkei 225 index dropped by 0.11%, Shanghai’s Composite Index dropped by 0.58%, and Hong Kong’s Hang Seng Index dropped by 0.29%.
On Friday, further negative inflation news was released when Japan reported that its annual inflation increased from 3% in September to 3.7% in October, significantly exceeding expectations of 3.2%. The news that GfK consumer confidence for November increased from -47 to -44, defying expectations of a dip to -51, albeit it remained close to the record low of -49 in September, was received favorably by U.K. markets.