Signs of consolidation above key support levels continue for the crypto markets as we head into Wednesday.
For bitcoin, that means sticking well above the US$20,000 price point, though there has been a slight drawback to US$20,400 this morning.
Ethereum is changing hands at US$1,560 having dipped a little over 1.5% in the past day, but remains comfortably above the key US$1,500 barrier.
Bitcoin (BTC) bulls seek out permanent support above US$20,000 – Source: currency.com
Dogecoin (DOGE) has been the big conversation starter lately, having soared some 150% since uber-fan Elon Musk took over Twitter.
There is evidence that the meme coin is cooling its paws today, after DOGE fell around 5%, though its newly attained position as the eighth-largest cryptocurrency remains for now.
It’s been a bearish morning for large-cap altcoins across the board, with Solana (SOL), Polygon (MATIC), Polkadot (DOT) and Cardano (ADA) all dipping between 4% and 5%.
Avalanche (AVAX) fared even worse, having suffered losses of around 6.3%.
Top daily movers include Toncoin (TON), which rallied over 10% to bring its market capitalisation up to US$1.96bn, and blockchain-based digital advertising platform Basic Attention Token (BAT), which also saw double-digit gains.
Most major decentralised finance (DeFi) tokens were down, with Compound Finance leading the way on a 5% dip.
The one outlier was Curve (CRV), which added 0.8% to its US$475mln market cap.
In total, global crypto market capitalisation currently stands at US$1.01tn, while total value locked across all DeFi protocols is US$54.23bn.