The Crypto Report: Bitcoin and Ethereum kick up a gear following positive news for the US economy

The crypto markets rebounded 7.5% this Thursday, bringing total market capitalisation to a two-month high of US$1.16tn.

The rally comes amid some positive signs that US inflation is slowing on lower gas prices.

Bitcoin trended in line with the market, heading up 7.4% for a two-month high of US$24,575.

Ethereum went into overdrive with a 13% rally, testing the US$1,900 barrier.

Solana emerged from its slump with a 14% lift, bringing the large-cap blockchain’s SOL token to a US$15.6bn valuation.

Other large-cap blockchains also performed well, with Avalanche, Polygon and Cardano all enjoying high single-digit gains.

The decentralised finance (DeFi) space performed well, adding 5.4% in total value locked across all protocols.

Decentralised exchanges Curve and Uniswap both added around 10% in their market caps, while Aave, Convex Finance and Synthetix all performed well.

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