Bitcoin and Ethereum show mid-week stabilisation while mid-cap blockchains make a move

The crypto markets show signs of stabilising after a bearish start to the week, adding 2.2% to bring total market capitalisation up to US$1.03tn.

Bitcoin is currently changing hands at around US$21,200, while Ethereum is trading upwards of US$1,630 following a 4% rally in the past day.

Among the strongest daily risers was the US$400mln XDC Network, which added 11% following the integration of the Frontier cryptocurrency wallet.

Other mid-cap networks posting strong results this morning include Waves, Neo and IOTA.

As for the large-cap network tokens, Cardano, Solana and Polygon added around 2% whlie Polkadot added 3.5%, but the strongest performer was Avalanche with a nearly 5% rally.

In the decentralised finance (DeFi) space, stablecoin exchange Curve outperformed by adding close to 6% to its market cap, while Uniswap, Aave, MakerDAO and Synthetix trended in line with the wider market.

Total volumes locked across all DeFi protocols is currently US$61.7bn.

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