Bitcoin
$23,069.21
+31.02
(+0.13%)
Ethereum
$1,599.70
+16.62
(+1.05%)
Ripple
$0.41
+0.01
(+2.05%)
Litecoin
$89.18
+1.67
(+1.91%)
EOS
$1.11
+0.01
(+0.45%)
Cardano
$0.39
+0.02
(+4.9%)
Stellar
$0.09
0
(+2.65%)
NEO
$8.44
+0.26
(+3.18%)
NEM
$0.04
0
(+3.26%)
DigitalCash
$51.68
+0.89
(+1.75%)
Tether
$1.00
0
(0%)
Binance Coin
$310.03
+5.89
(+1.94%)
QTUM
$2.71
+0.09
(+3.55%)
Verge
$0.00
0
(+5.62%)
Ontology
$0.22
+0.01
(+2.43%)
ZCash
$46.03
+0.02
(+0.04%)
Steem
$0.20
-0
(-0.83%)

Bitcoin and Ethereum stuck in historically low volatility range

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The crypto markets fell around 1.6% on Wednesday morning, with global market capitalisation currently sitting slightly below US$924bn.

Bitcoin fell over 2% over the past day, though has so far managed to keep its head above the US$19,000 price point, while Ethereum dipped below US$1,300 on a more heavy-handed 3% decline.

Bitcoin volatility is at a two-year low, and traders wait with bated breath on a breakout- a rally on US tech stock could provide a catalyst, so today’s impressive Netflix earnings should be seen as a ray of light.

Bitcoin’s range trade has traders wishing for a breakout – Photo: currency.com

Bitcoin’s range trade has traders wishing for a breakout – Photo: currency.com

All large-cap altcoins opened the day in the red, with Cardano (ADA), Ripple (XRP) and Solana (SOL) the worst hit, having all dipped over 3%.

Polygon (MATIC) is faring comparatively well, and remains the only large cap to be up week on week.

Privacy coin Monero (XMR) enjoyed a breakout today, having gained 2.5% to bring its market cap up to US$2.67bn

Once again, the decentralised finance (DeFi) space housed the morning’s top movers, with MakerDAO leading the market with a 5.7% rally to bring it market cap above US$1bn for the first time in two months.

Lending platform Aave was the morning second-biggest mover, while decentralised exchange Uniswap and derivatives exchange Synthetix also fared well.

However, at US$53.2bn. total value locked across all DeFi platforms actually fell by nearly 2%.

 



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