The Crypto Report: Ethereum outpaces Bitcoin as DOGE and SHIB have a brief rally

Global crypto market capitalisation remained at the US$1.12tn point in Tuesday’s early trade, with Bitcoin staying relatively flat at US$23,800.

Ethereum continues to outpace the market, enjoying a 2.3% gain this Tuesday morning, briefly bringing the coin’s price above the US$1,800 point for the first time in two months.

Large-cap meme coins enjoyed a decent daily rally, with US$9.7bn Dogecoin jumping 4% and Shiba Inu up just under 3%.

Stepn gained 10.2% this morning, bringing the move-to-earn (M2E) NFT project’s market capitalisation up to US$629mln.

Total value locked in the Decentralised finance (DeFi) space fell 1.6% to US$69.2bn, underscored by single-digit losses for Uniswap, PancakeSwap and Aave.

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