The Crypto Report: Ethereum fails to sustain support while Bitcoin sees moderate losses
1 year ago
Ethereum
444Views
Ethereum seems unable to break through the key US$1,300 barrier, instead shedding another percent this Thursday morning, dragging its price down to US$1,280.
Bitcoin�s price action is similarly trending down, albeit at a more modest 0.5%.
Ripple (XRP) has taken another hit, this time with a 6.3% dive below US$0.46, spelling bad news for XRP fans hoping to maintain the US$0.50 support line.
However, given XRP�s recent long-tail rally, the coin is still in a comparatively strong position in the altcoin space.
Cardano (ADA) fell over 7% this morning, thus underperforming against the large-cap altcoin set, while Polygon (MATIC) also shed more than 6% of its market capitalisation.
In the decentralised finance (DeFi) space, Uniswap is struggling to reverse the bear rally it has been experiencing in October. The US$4.3bn decentralised exchange fell nearly 8% in the past 24 hours.
Uniswap is not alone though; other DeFi tokens are similarly trending downwards, with Lido DAO dropping over 10% and Curve over 9%.
Other poorly performing altcoins this Thursday include oracle network Chainlink, the Cosmos blockchain, Ethereum Classic.
Huobi Global�s HT token seems hellbent on sustaining its impressive post-merger announcement rally, having added over 12% in the past 24 hours.
That brings HT�s total market capitalisation over US$1.1bn, a whopping 75% week-on-week gain.
KuCoin�s KCS token is also going well, following the centralised exchange�s recent announcement of zero trading fees on bitcoin and ether pairs. Its market cap currently stands at US$890mln.
Global crypto market cap currently stands at US$909bn, with total value locked across all DeFi protocols at US$53.35bn.
#ProactiveInvestors #TheCryptoReport #crypto #bitcoin #ethereum #kucoin #kcs����� #uniswap