Cardano rises, while Bitcoin and Ether trade lower
04:44, 10 November 2021
Cardano was the only top 10 non-stable coin trading in the green on Wednesday as Bitcoin and Ether slipped after hitting all-time highs a day earlier.
Blockchain platform Cardano’s ADA token rose over 3% to $2.23 in early Asia trade on Wednesday, taking its seven-day gains to over 13%.
Cardano’s ADA token, which has a supply cap similar to bitcoin, remained over 28% away from its record high of $3.09 hit in early September, according to CoinGecko.
Bitcoin and Ether down
There is a maximum supply limit of 45 billion ADA tokens compared to Bitcoin’s hard cap of 21 million.
On Wednesday, Bitcoin traded 2.7% lower at $66,438.97. The number one cryptocurrency hit a record high of $68,641.57 a day earlier. Ether was down 2.3% at $4,699.60.
Meanwhile, Apple chief executive Tim Cook said at the DealBook conference that he owned cryptocurrency and added that Bitcoin was something he is “interested in”.
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Litecoin up
Elsewhere, Litecoin jumped over 4%, after theatre chain AMC Entertainment chief executive Adam Aron said the company was on track to accept cryptocurrencies for AMC gift card purchases by the end of the year.
“As you know, you can now purchase AMC gift cards using cryptocurrency, and our IT group is writing code so that soon we can accept online payments in Bitcoin, Ethereum, Litecoin and Dogecoin among others,” Aron had tweeted on 29 October.
Aron had also conducted a poll on Twitter, whether AMC should accept Shiba Inu for gift card payments next.
Meme coins Shiba Inu and Dogecoin down over 4% in early Asia trade on Wednesday.
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