Today’s crypto movers: Bitcoin (↑1.57%), Ethereum (↑1.64%), Decred (↓4.27%) and ApeCoin (↑24.35%)

Posted: 20 April 2022 7:18 am
ApeCoin (APE)

The overall crypto market is up 1.85% in the past 24 hours. ApeCoin trades at new highs.

Most cryptocurrencies followed Bitcoin higher as its price moved past $41,000. This was likely fueled by investors who saw the recent drop as a bargain for entry.

Overall, the crypto market saw prices change by 1.85%, which is similar to the move we say on the previous day.

Trading volume over the last 24 hours was 4% higher than the recent seven-day average, meaning liquidations are over and investors are slowly accumulating once again.

Price volatility was 0.5%, which shows minimal price movements overall.

The two biggest coins: Bitcoin and Ethereum

Bitcoin (BTC) is the biggest coin by market cap and its price changed by 1.57%. Bitcoin now represents 40.96% of the overall market cap of the 250 biggest coins.

Bitcoin saw a sharp rally to $41,500 after it dipped below $40,000 two days ago. This often indicates that there were more buyers than sellers at the lower prices. Staying above $40,000 opens the way to test the $45,000 level once again in the near future.

The second most valuable crypto, Ethereum (ETH), saw its price change by 1.64%. Ethereum’s market cap is 48.15% of Bitcoin’s value.

Similar to Bitcoin, Ether also dipped below $3,000 shortly and saw a rally to $3,100. If we are to see further gains, the price has to trade above $3,000 in the days to come.

Today’s biggest gainers and losers

The coin with the biggest percentage gain (out of the top 250) was ApeCoin (APE). Its 24-hour increase was 24.35%. The increase means APE is now the 33rd biggest coin with a market cap of US $4.59 billion.

ApeCoin (APE) is a decentralized project inspired by Yuga Labs’ Bored Ape Yacht Club. The token facilitates the APE Foundation’s APE Ecosystem.

The recent gain could be from rumors of an Otherside Metaverse land sale requiring APE on 20 April. Official sources have not confirmed these rumors.

The biggest loser in the 200 biggest coins was Decred (DCR). Its drop over the last day was 4.27%. After the fall, DCR is now the 92nd biggest coin with a market cap of US $863 million.

Decred (DCR) is a blockchain-based cryptocurrency launched in February 2016. Decred created its token and protocol to facilitate open governance, community interaction and sustainable funding policies.

The recent loss is a normal retracement after Monday’s 44% price spike and has no connection to any news.

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