Bitcoin and Ether saw a decline in Asian trade on Tuesday, while other top 10 non-stablecoin cryptocurrencies had mixed results. Solana experienced the biggest loss in the past 24 hours, while Litecoin saw the largest increase. China's industrial output fell short of expectations, raising concerns about its economic recovery after three years of pandemic-related disruptions.
The global crypto market capitalization fell to US$1.13 trillion, while the total crypto market volume increased to US$28.36 billion in the past 24 hours. In the meantime, Asian equity markets were mixed after China's industrial production expanded by 5.6% year-on-year in April, missing market forecasts. David Rees, senior emerging markets economist at Schroders, predicts that emerging markets will pick up again in 2024, despite OPEC+ production cuts and geopolitical tensions.
All Comments