Bitcoin and Ether both saw slight gains on Wednesday morning, with Bitcoin holding above the US$27,500 mark despite recent congestion and high transaction fees. Litecoin led the winners as users turned to alternatives due to these issues, logging a record-high in daily transactions.

However, Polygon's Matic saw losses. U.S. equity futures traded flat due to concerns about U.S. debt ceiling negotiations and upcoming inflation numbers. The total crypto market capitalization edged up slightly in the past 24 hours to US$1.14 trillion, while the total trading volume dropped.