Image credit: Shutterstock
Solana led gains among large cryptocurrencies on Wednesday, rising about 2% to nearly $77 while Bitcoin traded around $64,300 and Ether gained about 1% to roughly $1,912.
Crypto prices were positive while technology shares sold off across Asia. In late-morning Seoul trading, Samsung Electronics was down about 7.1% and SK Hynix 8.4% as South Korea’s Kospi fell more than 5%.
Solana Rises 2.1% While Bitcoin Holds Above $64,000
Bitcoin was up less than 1% on the day, while Ether gained about 1.1% and XRP traded close to $1. Solana outperformed the large-cap group with a roughly 2.1% advance to around $77.
BNB traded near $602 and was slightly lower, while Hyperliquid’s HYPE fell about 1.4% to roughly $58.
The moves left major cryptocurrencies positive during the Asian session even as technology stocks faced renewed selling pressure.
Samsung Falls 7.1% and SK Hynix Drops 8.4%
The Korean selloff followed heavy semiconductor losses on Wall Street. The Philadelphia Semiconductor Index fell 5% on Tuesday, while Micron dropped about 7% and Nvidia lost 2.3%.
Higher borrowing costs also weighed on technology shares. The U.S. 30-year Treasury yield reached 5.3371% on Tuesday, its highest level since 2007, before easing during Asian trading on Wednesday.
Fed Minutes Due at 2 p.m. ET After 9-3 Rate Hold
Markets are now waiting for minutes from the Federal Reserve’s July 28-29 meeting, scheduled for release Wednesday at 2 p.m. Eastern. The Fed held its target rate at 3.50% to 3.75% in July in a 9-3 vote.
A recent poll of economists found that most expect the Federal Reserve to keep interest rates unchanged through the end of 2026. For crypto, the immediate position remains comparatively firm ahead of the minutes, with Bitcoin above $64,000 and Solana leading Wednesday’s large-cap gains.
