Today’s crypto movers: Bitcoin (↑0.16%), Ethereum (↑1.04%), STEPN (↓7.63%) and ApeCoin (↑7.86%)

Posted: 29 April 2022 6:13 am
ApeCoin (APE)

The overall crypto market traded flat at 0.01% in the past 24 hours. ApeCoin is back, making the biggest gains among the top 250 cryptocurrencies.

The crypto market followed Bitcoin as it tried to move above $40,000 once again. After it failed, the broader crypto market followed Bitcoin slightly lower.

Overall, the crypto market saw prices change by 0.01%, which shows market indecisiveness.

Trading volume over the last 24 hours was 12% higher than the recent seven-day average.

Price volatility was 1.07%, meaning there was low price fluctuation.

The two biggest coins: Bitcoin and Ethereum

Bitcoin (BTC) is the biggest coin by market cap and its price changed by 0.16%. Bitcoin now represents 41.62% of the overall market cap of the 250 biggest coins.

Bitcoin failed to push through $40,000 once again in the past few trading sessions. This could put a selling pressure down to $37,500 where a strong price support zone lies.

The second most valuable crypto, Ethereum (ETH), saw its price change by 1.04%. Ethereum’s market cap is 46.67% of Bitcoin’s value.

Ether is still following Bitcoin and failed to move past $3,000. It seems the synchronicity between these two coins will persist until a major catalyst, like the Ethereum 2.0 upgrade, comes into play.

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 28.23%. The increase means APE is now the 23rd biggest coin with a market cap of US $6.47 billion.

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

The recent gain comes ahead of the 30 April Yuga Labs’ Otherside metaverse land auction.

The biggest loser in the 200 biggest coins was STEPN (GMT). Its drop over the last day was 7.63%. After the fall, GMT is now the 50th biggest coin with a market cap of US $2.14 billion.

STEPN (GMT) is a Web3 lifestyle app with fun social elements and gamification design. Users equipped with NFT sneakers walk, jog or run outdoors to earn GST, another token associated with STEPN. They can trade these earnings for USDC or SOL or use them to level up and mint new NFT sneakers to lease or sell.

The price dropped after GMT was listed on several major exchanges, including Kraken, Gemini and Coinbase. Losing value after major listing happens often as investors take profit.

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