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Bitcoin Little Changed, Ether Surpasses ‘Shanghai’ Upgrade

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Bitcoin was trading low in Asia Friday morning as ether soared amid a mixed performance from the top 10 non-stablecoin cryptocurrencies by market capitalization. XRP was the biggest winner ahead of the filing deadline in the lawsuit between the US Securities and Exchange Commission (SEC) and Ripple Labs Inc. Ripple’s payment network is powered by XRP.

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quick Facts

  • According to Coinmarketcap, bitcoin fell 0.1% to $16,603 in Hong Kong in the 24 hours to 8:00 a.m., while ether rose 1.7% to $1,203.
  • Ether’s gains came despite some concerns about the lack of a date for Ethereum’s next network upgrade, known as “Shanghai,” the network’s first major update since its proof-of-work “merge” in September. Stake is the verification method.
  • XRP rose 5.6% to $0.40 amid market volatility following the collapse of crypto exchange FTX.com, proving to be a more resilient token. November 30 is the date for both the SEC and Ripple to file summary judgment in the lawsuit filed by the SEC against Ripple. The two sides will meet on December 2 to rectify the matter.
  • Solana is up 1.6% over the past seven days to $14.58, representing a gain of 6.9%. The rebound follows the token’s beating in the days following the collapse of FTX’s brokerage arm Alameda Research, which attempted to salvage large amounts of its holdings in Solana.
  • Litecoin fell 0.3% to US$78.76, ending its steady rise, but is still up 26.1% over the past seven days, making it the strongest player on the list for now. Litecoin is expected to experience its third mining reward in eight months, accelerating the halving of the coin’s supply.
  • US stocks were closed for Thanksgiving on Thursday and will reopen for a short session ending November 25 at 1 p.m. Eastern time.
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Source: news.google.com

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