Crypto Market Slumps to $2.17 Trillion Amid Prolonged Consolidation

The cryptocurrency market has been on the defensive in recent days, failing to mount a sustained rally and retreating to levels seen at the start of the week. Market capitalization currently stands at around $2.17 trillion.

Among the popular coins, Uniswap led the gains over the last day with an 8.7% increase, followed by Filecoin and VeChain with 4.6% and 4.4% respectively. Over the past 30 days, Uniswap has surged by 60%, while Cosmos has lost 18% and hit a multi-year low of $1.23.

Bitcoin found support late on Thursday but its rally stalled once again upon breaching the $65K level, pushing the price back down to $64K at the start of active trading in Europe. The leading cryptocurrency is currently trading within a narrow range and may be experiencing prolonged consolidation following a decline towards the 200-week moving average.

Ethereum Institutional has attracted over 100 investors as part of an ecosystem funding round, with all proceeds going towards accelerating work with banks, asset managers and custodians to develop their products within the ETH ecosystem. Additionally, the number of Ethereum wallets with a non-zero balance has exceeded 200 million for the first time.