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Today’s edition of OKEx Insights’ Crypto Market Daily covers Bitcoin, Ethereum, altcoins and DeFi.
The price of Bitcoin ( BTC) saw a price drop over the weekend but has rebounded in recent hours and is up 1.3%. The cryptocurrency market leader is currently trading at 16,089 USDT on OKEx.
Altcoins have not rebounded alongside BTC. The price of Ether (ETH) is down 1.4%, while Chainlink (LINK) and Cardano’s Ada are both down roughly 2.5%. UNI, the governance token of the Uniswap decentralized exchange, is down 8.5%.
The total cryptocurrency market capitalization is up approximately $3 billion since Friday. The metric now sits at $470 billion. Meanwhile, BTC dominance is down 0.2% over the same time period, according to CoinGecko.
The stock market has rallied exceptionally well following positive news regarding COVID-19 vaccines. The rally is putting pressure on stocks that benefited strongly from the pandemic and associated lockdown measures — such as Zoom Video Communications (ZM) — despite the rising number of new infections in the United States, Europe and elsewhere.
Top altcoin gainers and losers
- SWRV/USDT +40.00%
- SFG/USDT +38,18%
- VALUE/USDT +24.50%
- PNK/USDT -13.62%
- TMTG/USDT -14.06%
- BOX/USDT -30.17%
The top performers on OKEx are seeing more dramatic changes than the worst performers. Swerve ( SWRV) is up 40% while DefiBox ( BOX) is down roughly 30%. Meanwhile, mainstay The Midas Touch Gold ( TMTG) has returned to the list of winners and losers after a seemingly long hiatus.
Visit https://www.okex.com/ for the full report.
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BTC stubborn in its refusal to pull back as altcoins bleed was originally published in OKEx Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.