Markets: Bitcoin, Ether, Cardano, XRP fall; BNB gains on Binance Twitter investment - Yahoo Finance

Fast facts

• Bitcoin fell 0.9% to US$20,631 successful the 24 hours to 8 a.m. successful Hong Kong, portion Ether mislaid 1.8% to US$1,590, according to information from CoinMarketCap. Polkadot roseate 0.2% to US$6.65, portion Cardano dropped 3.4% to US$0.40 and XRP fell 2.5% to US$0.45.
  

• BNB gained 3.1% to US$313.76, bringing its gains for the past 7 days to 13.6%. Binance confirmed Friday it volition put US$500 cardinal arsenic portion of Tesla Chief Executive Officer Elon Musk’s US$44 cardinal takeover of the Twitter societal media giant. “We purpose to play a relation successful bringing societal media and Web3 unneurotic successful bid to broaden the usage and adoption of crypto and blockchain technology,” Changpeng Zhao, Binance laminitis and CEO, said successful a connection shared with Forkast.
  

• Leading memecoin Dogecoin fell 3.5% to $0.1177 aft a 95% surge implicit the week arsenic longtime Doge advocator Musk acquired Twitter. Dogecoin jumped 2 positions to eighth connected CoinMarketCap’s database of apical 10 crypto, reaching $0.1494 connected Sunday, its highest terms since aboriginal May. Musk has floated the thought of accrued cryptocurrency integration with the level successful the future, including perchance allowing users to wage the US$3 monthly interest for Twitter’s premium service, Twitter Blue, utilizing Dogecoin.
  

• Copycat memecoin Shiba Inu token saw the biggest losses, falling 7.6% to $0.00001193. However, its 17.5% summation implicit the past 7 days bumped it up 2 spots connected CoinMarketCap’s list, overtaking Dai and Tron. Its US$0.00001488 terms connected Sunday was the highest since precocious August.
  

• U.S. equities posted beardown gains connected Friday. The S&P 500 Index roseate 2.5% and the Nasdaq Composite Index finished up 2.9%. The Dow Jones Industrial Average gained 2.6%, making it the 4th affirmative week successful a enactment for the Dow, the archetypal since November 2021.
  

• Markets were buoyed by the U.S. Labor Department’s Employment Cost Index released connected Friday, which showed that labour costs roseate 1.2% successful Q3 from the 1.3% successful the erstwhile quarter, suggesting ostentation whitethorn beryllium peaking if it had not already done so, which would easiness unit connected the U.S. Fed to support raising involvement rates successful coming months. Market analysts are predicting an 80% accidental of the Fed raising rates by 75-basis points astatine its adjacent gathering successful November.

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