The crypto markets slowed down this Friday as the recent rally on positive US inflation data started to cool off.
Bitcoin dipped below the US$24,000, but managed to end the seven-day period 3% higher. Ethereum stayed relatively flat at US$1,890, though its seven-day performance outstripped the market with a 13% price rally.
As a whole, crypto managed to add 5% in the past week, bringing global market capitalisation up to US$1.14tn. It was a mixed week for large-cap blockchain platforms, with Solana, Polkadot and Binance seeing low single-digit growth, and Polygon slightly reducing its market cap. Avalanche, on the other hand, rallied 20%, bringing its valuation to US$8bn.
Blockchain infrastructure provider Ankr jumped an impressive 40% in the past 24 hours, following the launch of its new staking platform and news of a strategic investment from Binance.
Bored Ape Yacht Club’s APE token was one of the biggest losers in the past week, falling nearly 9%.
In the decentralised finance (DeFi) space, 5.5% was added in total cross-protocol volumes in the past week, bringing the figure to just below the US$70bn mark. Uniswap, Curve and PancakeSwap added around 3%, while Compound Finance and Convex Finance added closer to 5%.