Bitcoin and Ethereum lack momentum while Filecoin’s fortunes see a reversal

The crypto markets took a 3.2% dip to US$1.05tln this Tuesday, with Bitcoin falling slightly below the US$23,000 barrier.

Ethereum took a bigger hit by dropping 6% to US$1,590.

It has been a volatile few days for Filecoin; following a 70% rally, the decentralised storage solution was today’s biggest faller, suffering a 23% hit to its now US$1.97bln market capitalisation.

Arweave, another decentralised storage solution, was also hit this morning, after 15% was slashed from its market cap.

Fan-engagement token Chiliz enjoyed a 13.6% rally off the back of a partnership announcement with top-flight European football club FC Barcelona.’s US$3.6bln Cronos blockchain token rose by a solid 4.8%.

Total volumes in the decentralised finance (DeFi) space fell by over 2.8% to US$86.7bln in the past 24 hours, with the Uniswap decentralised exchange losing 3.1% in market cap, though it still remains above US$6bln. DeFi protocol Aave fell by over 7% while MakerDAO took a 6.2% hit.

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