Bitcoin slips in early Asia trade to $56,500
02:14, 23 November 2021
Bitcoin resumed its fall in early Asia trade on Tuesday, slipping over 2% to trade around $56,500.
Over the past seven days, Bitcoin (BTC) has lost nearly 9% compared with Ether’s (ETH) 6% fall in the same period.
Data from digital asset management firm CoinShares showed investors are buying the dip with Bitcoin seeing inflows of $114m last week from a total of $154m that went into digital assets.
Alt-coins
Over the weekend, Central American nation El Salvador announced plans to build a “Bitcoin City” funded by Bitcoin bonds.
Meanwhile, number two cryptocurrency Ether inched 1.5% lower to around $4,149 in early Asia trade on Tuesday.
Blockchain networks Solana (SOL) and Cardano (ADA) fell 2.7% to $219.93 and 1.3% to $1.79, respectively, on Tuesday.
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Cardano loses over 17% in one month
“Inflows into world computer assets suggest that investors favour Solana. By measure of total inflows over the last month, Solana has seen inflows totalling US$43m over the last month versus Cardano at US$23m,” said CoinShares in its weekly note.
Over the last month, Solana has gained about 11% while Cardano has lost over 17% in the same period.
Elsewhere, meme coins Dogecoin (DOGE) and Shiba Inu (SHIB) traded at $0.2203 and $0.00004344, respectively, on Tuesday. Crypto.com Coin (CRO) continued its uptrend by gaining over 8% in early Asia trade to $0.7608.
Read more: Phunware (PHUN) buys bitcoin: price spikes, shares fall
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