Home Ethereum Bitcoin and Ethereum enjoy bearish rally after stellar day for US indices

Bitcoin and Ethereum enjoy bearish rally after stellar day for US indices

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Crypto markets saw a bearish rally early Thursday after the biggest daily gain in US indices in more than two years.

The NASDAQ and S&P 500 were supported by higher prices on Microsoft and Alphabet following better-than-expected earnings, sending Bitcoin up 9.3% to US$23,180 and up 13.3% on Ethereum at US$1,640.

The global crypto market capitalization has increased by more than 8% and now stands at US$1.06 billion.

Decentralized Finance (DeFi) protocols performed particularly well, with Uniswap and Synthetix both hitting over 20%, and Aave, Convex, Compound Finance and 1inch Network all seeing double-digit gains.

Total value locked across the entire DeFi space increased by 4.8% to $87.5 billion.

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