Things are looking up in the cryptocurrency markets this Monday, with green candlesticks abounding for all major coins.
Total market value of all crypto assets is US$871bn, following a 2% gain over the past day.
Bitcoin (BTC) hit a three-week high of US$17,400, with bulls eyeing up US$17,500 and US$17,600 as the next major resistance points. Yet the coin still has a long way to go before returning to pre-FTX collapse levels.
Bitcoin (BTC) remains heavily compressed following the FTX collapse – Source: currency.com
Ethereum (ETH) is also skirting three-week highs of US$1,300 after adding 3% on Sunday and continuing to rally today.
All major altcoins kicked the week off in the green, with Litecoin (LTC) leading the charge on a 9% daily rally.
Polygon (MATIC) and Polkadot (DOT) added around 3% apiece, though price action was more muted for Cardano (ADA) and Ripple (XRP).
Meme coins are having a strong start to the week, particularly Shiba Inu (SHIB), which jumped over 5% in the past day to bring its market capitalisation above US$5.4bn. Dogecoin (DOGE) added around 2.5%.
Meanwhile, Axie Infinity’s AXS token soared over 20%, making it the day’s top mover, followed by Cronos (CRO).
Derivatives exchange Synthetix (SNX) is the day’s best mover in the decentralised finance (DeFi) space, having added 6% to its market value, while Uniswap (UNI) and Lido (LDO) both added around 3.5%.
Total value locked across all DeFi protocols currently stands at US$42.8bn.