Asia-Pacific markets set to fall ahead of China trade data, RBA rate decision

Asia-Pacific markets are set to fall ahead of trade data coming out of China, as well as a rate decision by the Reserve Bank of Australia.

Altcoins rose on Monday after ether hit $1,900 over the weekend for the first time since July. Litecoin added 3.4% while Ripple's XRP rose 9.1%. In the decentralized finance sector, the tokens tied to Polygon and Cardano advanced 4% and 6%, respectively. Uniswap added 6% as well.

'Alts are playing catch up to bitcoin today,' Ryan Rasmussen, analyst at Bitwise Asset Management, told CNBC. 'Historically we've seen bitcoin rally, then ether, then alts – and that pattern seems to be repeating as this bull market heats up.' Graeme Moore, head of tokenization at Polymesh Network, added that traders are 'front-running the next bull market as they've done in previous cycles where small, illiquid altcoins rise sharply.

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