The Crypto Report: Bitcoin holds steady while Ethereum floats below key support line
1 year ago
Ethereum
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Bitcoin is holding steady heading into the middle of the week, having barely moved from US$19,100 in the past 24 hours.
Ethereum is looking a bit more active, having jumped 1.3% on the day.
Those in long ETH positions will be banking on a break above the US$1,300 barrier, where it�s sitting just a whisker short at the time of writing.
While that could happen in today�s session, an extended rally beyond that is also unlikely given the neutral position of the relative strength index.
Top altcoin movers in the past 24 hours included Huobi Global�s HT token, which rallied another 20% following news of a majority stake acquisition by About Capital Management.
HT�s market capitalisation has now reentered the US$1bn club for the first time since June.
Hedera (HBAR), a mid-cap blockchain network with a market cap of US$1.47bn, also performed well with a 9% rally, while decentralised finance (DeFi) projects Convex Finance and MakerDAO were among the top movers too.
Downtrending altcoins this Wednesday include Bored Ape Yacht Club�s APE token at -8.5%, Stella (XLM) at -4.8%, the Uniswap decentralised exchange at -3.6%, and the Cosmos network�s ATOM token at -2.2%.
Total global market capitalisation currently stands at US$923bn, while total value locked across all DeFi protocols is a little over US$54bn.