Cryptocurrencies generally maintain their gains after yesterday's increase in value. The total crypto market cap stands at $1.81 trillion, with an average 24-hour trading volume of $93 billion. The market cap is now on an uptrend again, after hitting as high as $2 trillion in March and dropping below $1.7 trillion twice this month.
Bitcoin (BTC), the largest crypto-asset with a capitalization of $773 billion, is changing hands today just under $41,000 after peaking at $41,700 mid-week. It is seen that the ongoing purchases in the Bitcoin market since the beginning of the week have encountered sales in the $41,000 band. BTC/USD has support at $40,700 today, while the largest crypto asset continued its movement in the narrowband throughout the day.
In overall cryptocurrency demand this week, Ethereum (ETH) continues to take on a larger share than Bitcoin. Ethereum price gained close to 6% yesterday after breaking the $2,600 resistance. Today, it stepped into the $2,800 band towards evening hours. According to the latest situation, the largest altcoin, with a market value of $ 335 billion, has a trading volume of $ 16 billion in the last 24 hours and its weekly return has reached the level of 7.5 percent.
ApeCoin (APE) wind blows in the cryptocurrency market today
Today, ApeCoin (APE), which is listed on 6 major cryptocurrency exchanges at the same time, made a rapid entry among the top 100 cryptocurrencies. According to the latest situation, APE has seen a massive increase in value of around 600% in the last 24 hours, currently changing hands at $7.22. ApeCoin is currently the 50th largest crypto asset with a market cap of close to $2 billion.
What is ApeCoin?
ApeCoin is used as an ERC-20 based governance token of the APE ecosystem operating in the Web3 industry. ApeCoin holders can have a say in the decentralized autonomous organization (DAO) APE ecosystem under the name of the governance framework.
Apart from the specific increase of ApeCoin, there is the first altcoin among the top 100 cryptocurrencies to see a value increase of over 20 percent today. These altcoins are PancakeSwap native token CAKE, which is currently up 29 percent to $7, and Celo token, which is approaching $3.
Among altcoins that are seeing limited losses today, Waves has seen a 3% drop. Graph, which gained 25 percent this week, is the second most losing altcoin with a low amount of depreciation close to 2 percent.