The crypto markets show little signs of volatility heading into the new week, with global market capitalisation standing at US$923bn, roughly 1.5% down week on week (WoW).
Bitcoin had an encouraging Sunday session and has managed to sustain that momentum heading into Monday, though at US$19,300, is still slightly down WoW).
As is Ethereum, though a 2.1% bump in the past 24 hours has brought the coin just above the critical US£1,300 barrier.
Most large-cap altcoins have stayed moderately flat, with the likes of BNB, Cardano (ADA), Solana (SOL) and Polygon (MATIC) adding between 1% and 2%.
My kingdom for some volatility: Sideways price action a net negative for traders – Source: currency.com
The same cannot be said for Ripple’s XRP token, which looks destined to drop for the third day in a row. XRP is currently changing hands at US$0.47 after shedding over 3% this morning.
One of today’s top movers is the Casper blockchain, whose CSPR token rallied 16%, achieving a US$51mln market cap.
The Quant (QNT) blockchain performed similarly well.
Numerous decentralised finance (Defi) projects had a strong start to the week, particularly the derivatives exchange Synthetix (SNX), which posted double-digit gains to bring its market cap up to US$549mln.
Lido, Aave and MakerDAO all gained around 5%.
Total value locked across all DeFi platforms is currently US$53.74bn.
Broadly speaking, the markets are experiencing historically low volatility; a mixed blessing for traders hoping to bet on short-term price swings.
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