Following the recent price fluctuations, bitcoin calmed on a daily scale and has since remained above the coveted $40,000 price tag. Most altcoins are also relatively stagnant now, but the top 100 coins have seen the entrance of the recently launched ApeCoin.
Bitcoin remains above $40,000
Bitcoin’s volatility was quite evident over the past few days, especially on Wednesday morning when the cryptocurrency soared nearly $3,000 within minutes and approached $42,000.
However, the asset dumped just as quickly to just under $39,000, resulting in more than $200 million worth of liquidations.
Then came news from the US Federal Reserve of the 25 basis point interest rate hike, which initially sent BTC south of a big before almost immediately recouping all of the losses.
As such, bitcoin challenged $41,000 yesterday but failed to overcome it decisively. Since then, BTC has remained somewhat stagnant and stands between $40,000 and $41,000.
As such, its market capitalization was unable to recover $800 billion, but is north of $750 billion.
Altcoins Stall: APE Enters Top 100
Most altcoins went through similar price pumps and dumps lately but have calmed now. Ethereum is among the few coins in the green today as a minor 1% increase has driven the second-largest cryptocurrency to $2,800.
Avalanche also saw slight gains and sits at $80. In contrast, Terra (LUNA) lost the most value – a decline of almost 6% pushed the asset below $85.
Ripple, Solana, Cardano, Polkadot, Dogecoin, Shiba Inu, and CRO are also slightly in the red since yesterday.
The top 100 coins by market cap have a new representative facing ApeCoin. Just a day after its launch, the new token from popular NFT project Bored Ape Yacht Club has increased its market capitalization to nearly $2 billion, according to CoinGecko.
The total market cap of all crypto assets has remained almost flat compared to yesterday at just over $1.8 trillion.
