The Crypto Report: Bitcoin and Ethereum see a slight recovery but crypto markets stay below US$1tln

Crypto markets saw a slight rebound Wednesday morning following a poor start to the week.

Total market capitalisation rose by 0.9% to US$976bln, with Bitcoin edging slightly upwards by 0.4% to US$21,200.

Ethereum made modest single-digit gains but has so far failed to break above the crucial US$1,500 support line.

Blockchain networks Polygon, Binance Chain, Qtum and Solana all outperformed, while US$2.8bln privacy coin Monero enjoyed strong 7% gains.

The decentralised finance (DeFi) space saw a number of losses, with Compound Finance and derivatives exchange Synthetix and dropping by 1.9%, and decentralised stablecoin exchange Curve falling by 2.3%.

Crypto lender Nexo, which trended in early July after offering to buy distressed lender Vauld, was the day’s biggest loser, having shed 2.6% of its now US$260mln market cap.

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