The Crypto Report: Bitcoin and Ethereum rebound in early Friday trading

Bitcoin enjoyed a 6.5% rally on Friday morning to bring its exchange price to a two-week high of US$20,500.

Gains were still being added at the time of writing though for what it’s worth, Bitcoin’s dominance against the broader crypto markets still seems to be falling.

Ethereum is also at a two-week high of US$1,700 after adding around 4% this morning, with continuing bullish action observed at the time of writing.

As a result, the crypto markets shot through the US$1tn barrier.

All large-cap network tokens including Cardano, Solana, Polkadot and Polygon added between 5% and 10% of their respective market capitalisations.

Terra Classic (LUNC) remains the top performer over the past seven days having almost doubled its market cap to over US$3bn, although this morning saw a 2% reversal.

Oracle network Chainlink and highly scalable blockchain solution Cosmos (ATOM) were also strong risers this week.

On the flipside, fan-engagement token Chiliz and centralised finance platform Nexo were the biggest losers, having encountered double-digit losses.

In the decentralised finance (DeFi) space, total value locked across all protocols has remained essentially flat over the past week, and currently stands at US$59.5bn.

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