Market Wrap: Bitcoin Little Changed as Analysts Remain Skeptical

Trading volume is increasing ahead of Wednesday’s Federal Reserve press conference.

Bitcoin dominance rises

Altcoin roundup

  • Solana and Polkadot lead altcoin gains: Several major cryptocurrencies moved with bitcoin today and rose as high as 12%. Polkadot (DOT), Solana (SOL) and Avalanche (AVAX) were among the biggest gainers. The broader crypto market added 5% to the $1.76 trillion total market capitalization in the past 24 hours, according to CoinDesk’s Shaurya Malwa. Read more here.
  • Ethereum money markets see record liquidations as bitcoin-ether ratio hits three-month high: The bitcoin-ether ratio rallied to its highest level in three months on Monday, signaling continued bitcoin outperformance in the near term, according to Omkar Godbole. Ether’s recent sell-off triggered liquidations of collateral locked in prominent Ethereum-based lending and borrowing protocols such as AAVE, Compound and MakerDAO. MakerDAO alone made more than $15 million in liquidation penalty fees. Read more here.
  • Fantom transactions surpass Ethereum as users look to farm yields: Transactions on the Fantom blockchain exceeded those of Ethereum for the first time ever on Monday as investors seek new avenues to farm yields and accrue value. In the past 24 hours, more than 1.2 million transactions were processed on the Fantom network. That was slightly higher than Ethereum’s 1.1 million transactions. Read more here.

AEX Operation Team

--

--

--

Aex Global

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

AEX Finance Introduction

5KM : A project with enormous potential

Is Ethereum More Important Than Bitcoin?

What is TrueUSD (TUSD)? Overview & FAQ

Power Ledger: Low-Cost, Reliable, and Renewable Electricity

3 Best Crypto Platforms To Boost Your Trading Performance

Are You Ready For CryptoFitChallenge2022 Final Week Exercises? 🏋️‍♂️🏃💪👊🥊

ODEM Token in Lumi Wallet: Invest in Your Education

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
AEXGlobal

AEXGlobal

Aex Global

More from Medium

Weekly Report of AEX Product Operation NO.182

Trace Network — Developments That have been Implemented During The Week (24th to 30th January…

Unmarshal gets Brian D. Evans as Marketing Advisor

THE UNIQUENESS OF THINKIUM ECOSYSTEM