The Crypto Report: Bitcoin and Ethereum enjoy a bullish week while Bored Ape Yacht Club goes south

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%.

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