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Bitcoin Ethereum DeFi Crypto Market Daily OKEx Insights

XRP leads crypto market above $2 trillion

2021.04.06 Adam James

As BTC remains relatively quiet, ETH looks primed to take more market share after DeFi hit a new milestone. 

The cryptocurrency market is up just less than 2% today — notably pushing the total market capitalization above $2 trillion. 

The total cryptocurrency market capitalization has surpassed $2 trillion. Source: CoinGecko

While BTC and ETH have barely moved, XRP has surged 34% — drawing all of the attention from altcoin traders, today.

The cryptocurrency market is seeing majors underperform against some smaller altcoins. Source: Coin360

DeFi market surpasses $50 billion as Compound takes lead

The total value locked in decentralized finance is firmly on the rise, having surpassed $51 billion, as per data from DeFi Pulse. Compound has become the top-ranked project in DeFi, with a dominance of nearly 19% — surpassing Maker.

The decentralized exchange race has opened up, with Uniswap taking a significant lead over Curve Finance and SushiSwap.

Uniswap has opened up a sizable lead over Curve Finance and SushiSwap. Source: DeFi Pulse

Top altcoin gainers and losers: FIL remains red hot

  • KONO/USDT +37.60%
  • BTG/USDT +36.58%
  • PMA/USDT +26.21%
  • TRX/USDT -16.44%
  • MITH/USDT -24.36%
  • STX/USDT -27.29%

Small-cap altcoins are taking the top spots on OKEx today, including Bitcoin forks BTG and BCD. On the other side, large-cap altcoins STX and TRX are among the worst performers.

TRX is among the worst performers on OKEx today after losing more than 15%. Source: OKEx

BTC technical analysis: BTCUSDT bores crypto traders

The price of BTC remains entirely unexciting as it chops around underneath its previous all-time high — which may be considered the next area of potential resistance. Buying interest presumably exists at lower prices, unless some fundamental shift or newsworthy event rattles the market in some significant way.

OKEx's BTC/USDT 4h chart — 4/06. Source: OKEx, TradingView

ETH technical analysis: ETHBTC finally finds buying interest

ETH finally broke out against BTC in recent days, surging above a level of key resistance with relative ease. It is now consolidating in a pattern that suggests more upside is in store.

OKEx's ETH/BTC 4h chart — 4/6. Source: OKEx, TradingView

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OKEx Insights presents market analyses, in-depth features and curated news from crypto professionals.

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Disclaimer: This material should not be taken as the basis for making investment decisions, nor be construed as a recommendation to engage in investment transactions. Trading digital assets involve significant risk and can result in the loss of your invested capital. You should ensure that you fully understand the risk involved and take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.

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