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The Crypto Report: Bitcoin and Ethereum suffer mid-week slump

The Crypto Report: Bitcoin and Ethereum suffer mid-week slump

Bitcoin has hit its lowest point in a week, dropping 1.95% to US$19,323 in the opening hours of Wednesday. Ethereum likewise hit a weekly low, falling 2.99% to US$1,056.

The global market cap fell 1.92% to a total value of US$873.42bln, having reclaimed the US$1tln price point only four days prior.

There were few upwards movers this hump day, although decentralised exchange (DEX) Serum hit the top-100 club by adding 4.92% to its US$266mln market capitalisation. Decentralised finance (DeFi) protocol Convex Finance rose 3.57% while play-to-earn project Gala Games added 1%.

Network tokens suffered a collective slump, with Tezos, Polygon, Cosmos, Kava and Fantom all being among the ten biggest losers this Wednesday.

Fan-engagement token Chiliz fell by 7.32%.

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