It’s been another week of volatility for cryptocurrencies, but ultimately the markets went into Friday in essentially the same position across the seven-day period.
Global market capitalisation stands at US$946bn following a 1.3% daily bump.
Bitcoin is changing hands at US$19,600, with bullish support being witnessed as the day progresses. Across the seven-day window, it’s up 1.7%.
Ethereum is up around 2% against the day and half a percentage point across the weekly period, thus managing to keep its head above the US$1,300 support line.
Ripple’s XRP payment coin has been one of the most volatile of the large-cap cryptocurrencies as its securities lawsuit with the US Securities Exchange Commission (SEC) comes to a head.
Another partial victory for Ripple yesterday sent XRP soaring 12%, pushing its market cap to near US$50bn.
But despite the daily gains, XRP is still down 7% compared to this time last week.
Solana and Binance’s BNB coin added 3% and 2% respectively this morning and Polygon went up nearing 5%, while other large-cap network tokens saw more conservative gains.
In the decentralised finance (DeFi) space, MakerDAO’s MKR token was clearly the strongest performer.
The governance token for the DAI stablecoin added 7% this morning, but is up over 14% over the seven-day period.
Total value locked across all DeFi protocols is currently 1.5% up against the week at US$55.5bn.
BlackRock launches metaverse ETF
BlackRock, the largest exchange-traded fund (ETF) issuer globally, is planning a metaverse-linked ETF.
The ‘iShares Future Metaverse Tech and Communications ETF’ will track companies with exposure to the burgeoning metaverse sector.
A price and launch date have yet to be announced.