Fast facts
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Bitcoin fell 3.42% in the prior 24 hours to change hands at $23,014 as of 4:30 p.m. in Hong Kong, while Ethereum was trading at US$1,691, down 4.7%, according to data from CoinMarketCap.
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BNB reversed gains from a recent run up, sparked when Binance, the issuer, said it would be offering staking services for more tokens. It fell back 0.99% to trade at US$320.82.
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Solana, which posted the biggest percentage loss among the top 10 in morning trade, was flipping hands at US$39.82.
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Asia equity markets closed in the red across the board amid reports of China consumer prices hitting a two-year high in July. The Hong Kong Hang Seng dropped 1.96%, with the Shanghai Composite index losing 0.54% and the Nikkei 225 index edging down 0.65%.
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China’s consumer price index rose by 2.7% in July from a year ago, up from June’s 2.5%, the National Bureau of Statistics announced on Wednesday. Notably, prices of pork surged by 20.2% year-on-year in July, pushing up overall food prices.
- The U.S. is set to release a raft of key inflation figures on Wednesday, with some economists expecting consumer prices in July rose a slower 0.2%, down from 1.3% in June, as energy prices eased back.