With EIP-1559 moving closer by the day, the bid side of ETHBTC remains as strong as ever.
The cryptocurrency market is up modestly today, despite the price of remaining unchanged. As is often the case, the market leader’s inactivity is providing altcoins with the opportunity to run. , and have all seen respectable increases after rose by 11.5%.
Sentiment in the cryptocurrency market remains almost perfectly neutral, according to multifactorial crypto market sentiment analysis from alternative.me. Some traders might take this as a healthy sign, given that the market spent multiple consecutive months in extremely greedy territory.
UniSwap TVL surges ahead of V3 protocol upgrade
The total value locked in decentralized finance remains relatively unchanged at just under $65 billion. The vast majority of major DeFi project’s TVL changes remain slight.
Uniswap, however, has seen its TVL increase by nearly 15% — dramatically more than Curve Finance’s 1.72% and SushiSwap’s 0.53% decrease — ahead of the leading decentralized exchange’s upcoming V3 protocol upgrade.
Top altcoin gainers and losers: FTM leads large-caps again
- FTM/USDT +17.57%
- FSN/USDT +17.12%
- VITE/USDT +15.02%
- COVER/USDT -7.41%
- FRONT/USDT -7.43%
- HEGIC/USDT -8.03%
is again outperforming the wider altcoin market, sitting at the top spot today on OKEx’s list of best performers. XRP, meanwhile, has seen the sixth-largest increase at 12.11%.
Losses among large-cap altcoins are extremely muted, with
performing the worst after dropping 3.30%.
BTC technical analysis: Boring, but slightly bullish
The price of BTC remains unexciting while it chops around the ribbon of exponential moving averages on the four-hour time frame. It currently is leading slightly bullish as BTCUSDT trades above the ribbon, but a breakdown leading into the weekend could see buy interest tested around 50,000 USDT.
ETH technical analysis: Strong trend against BTC
The price of ETH has outperformed BTC throughout all of April, and it shows no signs of stopping ahead of the launch of. Traders will continue to use the four-hour EMA ribbon as support while ETHBTC trends upward, and bearishness cannot be seriously considered until the ribbon is turned into resistance.