Crypto assets marginally lower; Bitcoin, Ether slightly up

Bitcoin was trading flat, with slight gains and not changing much from the earlier trading session as the biggest crypto token held on to the 29,000 level

Bitcoin and other leading crypto tokens faced Monday blues in Asia as Bitcoin and Ethereum were slightly up, while other crypto assets were marginally lower. The crypto market saw an atypical drought with notably low trading volumes and bitcoin volatility near five-year lows.

Bitcoin was trading flat, with slight gains and not changing much from the earlier trading session as the biggest crypto token held on to the 29,000 level. Though, its bigger peer, Ethereum, was changing hands on the similar line, posting muted gains but stayed below the $1,850 levels. Price action in the leading altcoins was mixed during the early hours.

Bitcoin opened the week at above $29,000, likely led by heightened on-chain demand from new addresses. In spite of the non-farm payroll data not impacting the price of Bitcoin, upcoming Consumer price index reports from the US and China may cause fluctuations. Ethereum stays steady between $1,800 and $1,850, said Edul Patel, Chief Executive Officer & Co-founder, Mudrex.

Apart from a few exceptions, all leading crypto tokens were trading down on Monday. Shiba Inu cracked over 5 per cent, while Bitcoin Cash declined more than 2 per cent. XRP, Dogecoin and Tron were down a per cent each. Among the gainers, Solana soared over 2 per cent, while Polygon increased nearly a per cent.

The global crypto currency market capitalisation was slightly higher, increasing to the $1.17 trillion level as it dropped over half-a-per cent during the past 24 hours. Nevertheless, the total trading volumes increased over 8 per cent to $21.62 billion.