Altcoins Crypto News

APE Takes A Beating As It Sheds 50% Of Its Price

APE must cling tight, or else it falls and suffer a major “injury.” Non-fungible tokens and the metaverse are no longer merely buzzwords in the cryptocurrency industry. In 2021 alone, the market for NFTs was valued at $40 billion, a tremendous increase from the previous year. This market has continued to expand this year with the emergence of new NFT marketplaces. We also observed a new coin — ApeCoin — causing a sector-wide ruckus in tandem with this expansion. Suggested Reading | Moonbirds And Solana NFT Trading Volume Is On A Tear As Sales Rally 45% ApeCoin still makes a lot of noise, despite suffering losses in the market. (DailyCoin) ApeCoin is a recently-launched cryptocurrency on the Ethereum (ETH) network. The coin is the native cryptocurrency of the APE ecosystem, which consists of the ApeCoin DAO and all APE-based services and goods. The developer of the renowned Bored Ape Yacht Club (BAYC) NFT collections, Yuga Labs, has selected APE as the principal token for all new products and services. Despite being the newest cryptocurrency on the market as of April of this year, its market capitalization ranks 47th, at $3.445 billion. Suggested Reading | Bitcoin Collapses By Most In Nearly A Month – Its Golden Days Are Over? APE Drops Hard From ATH APE reached an all-time high of $28 at the conclusion of April. But on May 2, 2022, just days after reaching its ATH, the token plunged and reached a low of $16.71. Given the media attention that ApeCoin is already garnering, if the price continues to grow, this token might become one of the finest cryptocurrencies in 2022. APE total market cap at $3.445 billion on the weekend chart | Source: TradingView.com However, in contrast, APE’s price has dropped significantly during the past week, by approximately 50.42 percent. APE’s daily trade volume has also reduced by double digits, falling by approximately 40 percent. The price of APE is getting closer to its 24-hour low. It has a 24-hour high of $13.70 and a low of $12.28. Losing Steam Vs. BTC And ETH As of Sunday midday, the price of APE has declined versus Bitcoin (BTC) and Ethereum (ETH) by around 7.50 percent and 6.30 percent, respectively. APE is currently valued around 0.0003453 BTC and 0.004644 ETH. There are a total of 1 billion APE tokens, and 15% of the token supply is allocated to NFT holders. In addition, about 48 percent of the total supply will be distributed to the DAO’s treasury over the course of 48 months. The stock price of ApeCoin began on March 17 at $5 and increased by more than 250 percent within the first 48 hours of trade. After reaching $18, APE pulled back little and is now returning to re-evaluate this region. Featured image NMK World, chart from TradingView.com

Crypto News

Moonbirds And Solana NFT Trading Volume Is On A Tear As Sales Rally 45%

NFT trading volume has been on a robust momentum since April and the pace is just right for May with Solana and Moonbirds NFTs such as Okay Bears triggering the increase in NFT sales volume since April. According to DappRadar, there is a monumental 45% climb in organic trading volume of NFTs in April in comparison to the previous months. Solana NFT trading has skyrocketed in April, as Moonbirds also proved to boost Ethereum trading. Suggested Reading | Bitcoin Seen Dropping To $32K – But Not This Month – As Analyst Sees It Hitting $48K NFT Trading Volume Climbing There has been a marked sluggishness in February and March, but NFT trading volumes have bounced back in April with a remarkable increase of 45%. There has been a halt for six weeks that transpired in mid-February with the NFT market. Thankfully, the trading volume improved in April. The main culprit for the recent increase in NFT trading volume points to Solana-based NFTs and Moonbirds. The NFT market has recorded an increase in monthly NFT trading volume at $6.3 billion in April. That is a growth spurt or jump of over 23% from March. Moobirds Now 11th Most-Traded NFT In History Moonbirds, a private or members-only collection, has generated around $500 million in trades which has helped with the recovery of the NFT market. To date, Moonbirds is now the 11th most traded NFT collection in history which has surpassed other NFT collections such as Cool Cats, Doodles, and Meebits. Crypto total market cap at $1.62 trillion on the weekend chart | Source: TradingView.com Despite the controversies, Moonbirds has remained strong with  the floor price consistently above 28 ETH or approximately $81,944. Another important factor is the increase in demand for Solana NFTs at 91% every month which has generated over $300 million in total revenue. Solana-based NFTs have also increased in the sale price to $350. Suggested Readin | NFT Market Records Decreasing Number Of Buyers – Is The NFT Hype Dying? OpenSea Support On Solana Boosts NFTs The popularity and massive success of Solana NFTs isn’t a surprise especially because OpenSea has expressed its support for the Solana blockchain. The backing of this major NFT marketplace has done wonders for Solana NFTs as a whole. Okay Bears and DeGods are popular Solana NFT collections that have generated $23 million and $43 million in trading volume which paved the way for the collections to be included in the top 30 most traded NFT collections last month. More so, Otherdeeds by Yuga Labs which had their first NFT drops on April 30 also contributed to the boost in NFT trading volumes. Despite generating over $340 million in APE, Otherdeeds suffered from losses of over 4.5 million due to failed transactions. Featured image ItsBlockchain, chart from TradingView.com

Altcoins

Ethereum-Based Payments Altcoin Explodes 126% in Matter of Days As Bitcoin Breaks Above $41,000

An Ethereum-based altcoin project designed to bring crypto payments to the mainstream is soaring after announcing a new milestone. The Metal Pay wallet app allows people to buy, sell and trade cryptocurrencies as well as send capital to acquaintances. The project’s central crypto asset, Metal (MTL), has more than doubled in price since April 11th, […]

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Altcoins

Thunderous Rally for Cosmos-Based Altcoin Is Not Over Yet, According to Top Analyst Michaël van de Poppe

A leading crypto analyst says the booming rally of Cosmos (ATOM)-based altcoin THORChain (RUNE) isn’t finished making some noise. THORChain has been on a tear for the last month, rising 147% from $4.85 on March 1 to $11.99 at time of writing. Despite RUNE’s incredible gains, leading crypto analyst Michaël van de Poppe tells his 579,500 followers […]

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Bitcoin Crypto News

Bitcoin Value Remained Stable Around $43,000

Bitcoin gave up some of its gains on Thursday morning, but not before running for three days in a row. Bitcoin has been on a tear over the past few days, with prices increasing by more than 17% in just three days. The coin gained a significant rise, so many people are calling Bitcoin a ‘safe haven’ again. Bitcoin has been on quite the rollercoaster this year! It was up six of seven days but remains down more than 5% year to date. Related Reading | Bitcoin Touches Above $40K For Third Time In 2022, Where Does It Go From Here? According to French Finance Minister Bruno le Maire, the European Union has announced that it will include cryptocurrencies in its sanctions against Russia. The decision is expected to impact the crypto markets significantly and may lead countries like France or Britain. They are currently considering cryptocurrency legislation towards recognizing them as legal tender soon enough. Reuters reports that the move is meant to make Russia’s aggression against Ukraine as expensive as possible. According to Bruno le Maire, deterrents against Russia have been very effective and left the country’s financial system in ruins. The Russian central bank cannot protect its currency, which many people believe will lead it towards another economic downfall like during the 90s ‘ disintegration period’. European Union To Freeze Russian Central Bank Assets The European Union has punished Moscow for its aggression against Ukraine. The 27-nation bloc imposed three packages containing dozens of sanctions against Russia’s leadership and citizens connected with separatists in Eastern Ukraine. Who are fighting government troops loyal to Kyiv; these measures target individuals and businesses such as oil companies that support President Putin’s war effort there. Russia suffers significant financial losses as Western countries punish them for interference in democratic processes. The European Union has announced they will be freezing Russian central bank assets and disconnecting seven banks from the SWIFT financial-messaging system. Related Reading | Russia Can’t Rely On Crypto As Shield From Crippling Sanctions, Analysts Say UN General Assembly Rebuked Russia The UN General Assembly rebuked Russia for invading Ukraine and demanded that it stop fighting to withdraw its military forces from the country. The vote is an action to diplomatically isolate them at this global body. Leading more nations to follow suit as diplomatic isolation continues against Moscow’s policies in Europe. The U.N.’s Security Council held an emergency session on Wednesday to pass a resolution on Ukraine after Russia stepped up their airstrikes and bombarded civilians in the attempt to take control of Kherson port from government forces. The U.N Council achieved the 141 out of 193 vote majority, with support coming primarily from Western countries. The text passed a resolution deploring Russia’s aggression against Ukraine. The last time the Security Council met at an emergency session of the General Assembly was in 1982.  Featured image from Pixabay Chart from Tradingview.com

Bitcoin Crypto News Ethereum

Crypto Market Cap Rebounds, Reaches $2 Trillion

The crypto market has experienced a sudden surge in value, with Bitcoin’s price climbing near $45K to bring market capitalization back over two trillion dollars. It’s been a fantastic week for cryptocurrency. Over the past week, Bitcoin’s price has risen 14%, while Ethereum (ETH) gained 12%.  The cryptocurrency market continues its recent notice by raking in more than $2 trillion. One of the most popular and successful coins has been Terra’s LUNA, which climbed nearly 70% over the last week. Related Reading | Bitcoin’s Price Up $10K As Crypto Is Predicted To Breach $100K In 5 Years Solana’s SOL has appreciated in value this week, gaining 18.5%. Other tokens such as Avalanche’s AVAX and Polkadot’s DOT are also seeing increased appreciation, with Avax rising 16% while the latter growing nearly 13%. Bitcoin is now the most valuable currency in terms of market capitalization, surpassing Russia’s rapidly deteriorating ruble. The price for one bitcoin has increased to $45,000 and reached the market capital at around 835 billion U.S., while its Moscow-based competitor only commands 625B USD today. Analyst Reviews On Crypto Market According to Marcus Sotiriou, an analyst at UK-based digital asset broker GlobalBlock, with Bitcoin’s big move, it seems that the cryptocurrency has decoupled from stock markets. The markets have been on an incredible tear this week! And it looks like they could be heading for a potential decoupling from stocks. This would mean that in the short term, at least–with long-term implications still up in the air. The current crypto market outlook is eerily reminiscent of March 2020. However, it feels like we’re in for another significant uptick, with Real Vision CEO Raoul Pal predicting “a lot more collaboration” from within the industry soon enough. Raoul Pal tweeted when Bitcoin broke above $44,000; Back then, we threw the worse possible news at it (a pandemic and a global shut down), and it fell very sharply but failed to make a new low. Related Reading | Bitcoin Taker Buy/Sell Volume Shows “Buy” Signal As BTC Gears Up For Rally The Ukraine war, higher rates, and surging oil have created a perfect storm for cryptocurrencies. While the future may be bright with new opportunities emerging from this time of chaos in investors’ eyes – Pal thinks Bitcoin failed to make another low suggests “macro might get more positive.” However, he also urged caution, noting that the end of this tech sell-off could ignite a fresh collapse in crypto. Power Of Borderless Currencies This week, the power of borderless assets like Bitcoin and Ethereum was on display. When people fleeing Ukraine turned to digital currency for financial support. As a reminder, DeFi solutions such as non-custodial wallets can be crucial in times like these. They allow those without formal funds access regardless of where they are located or what government may rule them out from receiving traditional help altogether. With Ukraine’s move to ask for crypto donations, the process of adopting this new and exciting asset class is set into motion. So naturally, you could say that its price has been growing steadily ever since. Featured image from Pixabay, Chart from TradingView.com

Bitcoin Crypto News

A Green Market Following Surge In Bitcoin-Ruble Trading Volume, Full Recovery Underway?

Bitcoin surged to $44,000 overnight on March 1 after a Monday rise produced surprising results. Bitcoin has gone on a tear in the last day or so, gaining over $6,000 and breaking beyond $40,000 for the first time since the Russian-Ukraine conflict began. The majority of altcoins saw significant gains as well, with Ethereum approaching $3,000 and Terra erupting by 20%. Bitcoin See Trading Volume Rise BTC/USD reached $44,250 before stabilising, according to data from TradingView, and was remained above $43,000 at the time of writing. Analysts had been struggling to predict what Bitcoin price movement will do next against a highly uncertain macro backdrop, a mindset that persisted as local highs surfaced. The bitcoin market was impacted by Russia’s decision to conduct a special military campaign against Ukraine. Bitcoin was trading about $39,000 before plummeting $5,000 to just over $34,000 on a monthly basis. When the West announced that it would not become directly involved in the conflict, BTC began a rapid recovery and regained all of its lost value in hours. Furthermore, the asset continued to rise and was even challenged for $40,000 a few days later. Crypto liquidations chart. Source: Coinglass While initially unsuccessful, the asset was able to reclaim that desired level yesterday, according to reports. It rose further, reaching $44,000 for the first time since February 17, resulting in nearly $300 million in holdings liquidated, according to CoinGlass. Yesterdays #BTC trade we took with the group. Didn't expect it to run that hard tbh. Would have raised TP probably because I think it can do 1 more leg up before some correction. Red box was for the entire move, now 1 more (smaller) leg to go imo. Nice, quick profit 👍 pic.twitter.com/1suDz8pk7p — Crypto_Ed_NL *not asking to send DM's* (@Crypto_Ed_NL) March 1, 2022 Pentoshi, a well-known trader and analyst, predicted that even more triggers would be added to the macro mix in the month of March. He told his Twitter follower: “Want to state, March is a month of massive variables,”on the day. So I think day to day approach is best. There is a lot going on in the world right now. It’s anyones guess. I’m leaning towards yearly open still, but after that it’s wait and see.” Despite taking a more bullish stance in February, he stated that he “did not see coming” the amount of Bitcoin’s quick rise. BTC/USD surges to $43k. Source: TradingView Apart from the ongoing Russia-Ukraine conflict, the Federal Reserve of the United States is expected to make a decision on key interest rate hikes later this month. The consumer price index (CPI) data for the United States is due on March 10. Related Article | Russian Politicians’ Crypto Wallets Targeted By Ukraine – Hefty Reward Up For Grabs Altcoins On Green Altcoins, meanwhile, went all-out on the offensive. Ethereum has risen by 11% and is now trading at $2,900. It’s worth mentioning that when the battle broke, the second-largest cryptocurrency dropped all the way to $2,200. Binance Coin is up 12% and now trades at over $400. Ripple, Cardano, Solana, Avalanche, Polkadot, Dogecoin, and Shiba Inu are also doing well. Terra, with a gain of about 20%, is the most significant gainer among the larger-cap alts. As a result, LUNA is trading at $90. Waves (40 percent), THORChain (24 percent), NEAR (22 percent), Theta Network (18 percent), NEO (16 percent), Fantom (16 percent), JUNO (15 percent), Oasis Network (15 percent), and a slew of other coins have all pumped their prices. Since yesterday, the crypto market valuation has increased by nearly $200 billion, and it now stands at $1.9 trillion. Related Reading | New Crypto Security Solution Protects Bitcoin, Other Digital Assets From Theft Featured image from Pixabay, Chart from TradingView.com, and CoinGlass

Altcoins

Explosive Mid-Cap Altcoin Will Become One of the Largest Crypto Assets on the Market, According to Coin Bureau

A popular crypto analyst says this 5G mobile hotspot altcoin is bound to eventually become one of the biggest cryptocurrencies. In a new YouTube update, pseudonymous Coin Bureau host Guy tells his 1,960,000 subscribers that Helium (HNT) will one day rise above the competition. “Helium may have a hard time in 2022, but to me, it’s a […]

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