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Ethereum outpaces Bitcoin, crypto markets push higher as week gets underway

Published: 04:42 24 Oct 2022 EDT

Crypto report

The crypto markets gained over the weekend, with global market capitalisation pushing one percent higher to US$929.7bn.

Ethereum outpaced bitcoin, having fared particularly well in the past 24 hours with a 2.1% jump to US$1,337, although its has been drawing back in Monday’s early trading hours.

Ether (ETH) saw a late-Sunday rally, but has retracted this morning – Source: currency.com
Ether (ETH) saw a late-Sunday rally, but has retracted this morning – Source: currency.com

Bitcoin acted in similar accord, if a bit less dramatically, as is currently changing hands at US$19,332.

Top Monday risers in the large-cap altcoin space include Polygon (MATIC), which underwent a 6.5% upshot to bring its market cap to US$7.7bn.

Cardano is also trending upwards having added 2.1%, though the blockchain network is still running cold week on week, as is Solana (SOL) and Polkadot (DOT).

There are a number of smaller network tokens to keep an eye on, including South Korea-based Klaytn (KLAY), which just jumped over 22% following a tokenomics revamp.

There’s still a long way for the metaverse-focused blockchain to go though; KLAY is a shocking 86% down year to date.

The Neo and Elrond blockchains added around 4% each, making them also among the top daily risers.

Today’s best-perform decentralised finance (DeFi) tokens include AAVE, Curve and Synthetix (SYN), all three of which added over 3%.

On the flip side, MakerDAO’s market capitalisation dropped over 3%.

While still significantly up against the week following a remarkable recent rally, Huobi Global’s HT token cooled off, shedding around 4.5% of its US$1.3bn market cap.
 

 

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