Bitcoin and Ether gained in Friday afternoon trade in Asia along with all other top 10 non-stablecoin cryptocurrencies, following successful negotiations on raising the U.S. debt ceiling that injected some optimism into markets. Litecoin was the biggest gainer in 24 hours. 



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Bitcoin gains, First Digital issues new stablecoin







Bitcoin, world’s largest cryptocurrency, rose 1.08% to US$27,076 in 24 hours to 4 p.m. in Hong Kong, bringing its weekly gains to 2.08%, according to CoinMarketCap data. 



Ether, the second biggest cryptocurrency in the world, gained 1.78% to US$1,886 in 24 hours, after rising 3.85% in the last seven days. 



Litecoin was the biggest gainer among top 10 cryptos, climbing 2.25% to US$94.48 in 24 hours, and strengthening 8.35% on the week. It rose on stronger buying support from its third halving event that is set for Aug. 2, which would reduce supply of the token. 



Litecoin’s on-chain activities increased in May, according to blockchain data tracker IntoTheBlock on Tuesday, which noted almost 8.5 million Litecoin addresses with a balance by the end of May, compared to 7.09 million addresses by the end of March.



The global crypto market capitalization strengthened 1.21% to US$1.14 trillion, while the total crypto market volume lost 5.75% to US$29.94 billion in the last 24 hours. 



Hong Kong-based consultancy First Digital, has introduced a new stablecoin pegged to the U.S. dollar, First Digital USD (FDUSD), it said in a statement on June 1, the same day that Hong Kong’s new licensing regime for virtual asset service providers took effect.



Issued by FD121 Limited, a subsidiary of the trust company and under the brand name First Digital Labs, the stablecoin is intended to be backed on a 1:1 basis by one U.S. dollar or asset of equivalent fair value, held in accounts of regulated financial institutions in Asia, the statement said.