Bitcoin and Ethereum in the bears’ hands, Ripple (XRP) loses steam

There is little to celebrate in the markets this Monday morning, crypto or otherwise, with all major digital assets cutting a bearish path concurrent with the major UK and US indices.

Ethereum lost another couple of percentage points over the weekend, dragging its market price below US$1,300.

Bitcoin fared slightly better, though at US$18,750, remains below the key line of support.

Global crypto market capitalisation has headed south of the US$920bn mark, 3.5% below last Friday’s high point.

Ripple (XRP)’s tremendous gains over the past week have started to be chipped away at, with a nearly 4% drop on Monday bringing its market cap down to the US$23bn mark.

Solana suffered the worst losses in the large-cap altcoin space, having fallen over 5%, while Cardano and Polygon also fared poorly.

Most of the top risers consisted of niche blockchain tokens including IOTA and Quant, though Bored Ape Yacht Club’s APE token managed to add around 1.5%.

It is a mixed bag in the decentralised finance (DeFi) space.

Compound Finance and PancakeSwap were among the few risers in the markets this morning, though Lido and Synthetix went the other way, having lost 9% and 7% respectively.

Total value locked across the whole DeFi space is currently US$54.2bn.

Interpol takes on Terra

Interpol has officially entered the hunt for Terraform Labs founder Do Kwon, who has remained in hiding since the collapse of his LUNA and UST cryptocurrencies earlier this year.

The international crime agency issued a red notice after an intervention request from South Korean authorities accusing Do Kwon of capital markets law violations.