Bitcoin treads water under US$22,000 following SEC action on Kraken, Ether falls


Bitcoin was little changed in Monday morning trading in Asia in a mixed morning for the top 10 non-stablecoin cryptocurrencies by market capitalization. Bitcoin traded under US$22,000 after the U.S.-based Kraken crypto exchange halted its staking service on Thursday and paid a fine of US$30 million to the Securities and Exchange Commission (SEC) for failing to register the service. The SEC move sent much of the crypto market lower over the weekend. XRP led the losers this morning, while Solana headed higher.

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Fast facts

  • Bitcoin dipped 0.4% in the past 24 hours to US$21,796 at 8 a.m. in Hong Kong, losing 5% over the past seven days to trade in the same price range of almost one month ago, according to data from CoinMarketCap. Ether dropped 1.6% to US$1,515, logging a 7.1% weekly loss.
  • Solana rebounded 3.1% to US$21.48, though remains 8.5% lower for the past seven days. The gain today follows a report by crypto research firm Delphi Digital that said Solana is the largest non-fungible token (NFT) blockchain after…

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