Bitcoin Taps 9-Day High, BAYC’s ApeCoin Soars 30% (Market Watch)

Following yesterday’s recovery, bitcoin kept climbing in the next 24 hours and touched a 9-day high at just over $41,500. While most altcoins have calmed today, some, such as Solana, Terra, and Polkadot, marked substantial gains. Nevertheless, APE is the most significant gainer.

ApeCoin Steals the Show

The altcoins experienced enhanced turbulence on Monday when the entire market was covered in red. Yesterday was recovery time, and most have remained at a similar position or even increased.

Ethereum found itself trading at $2,900 during the correction earlier this week but reclaimed $3,000 yesterday and now sits around $3,100. Binance Coin and Ripple are just slightly in the red and sit at $420 and $0.75, respectively.

Cardano, Avalanche, Dogecoin, and Shiba Inu have marked minor daily increases. Solana, Terra, and Polkadot are all up by more than 5%. As a result, SOL trades at $107, LUNA at $95, and DOT at $19.

BAYC’s recently-launched native coin – ApeCoin – is today’s best performer. The asset has soared by over 30% and currently sits above $16.

The crypto market cap is up by about $40 billion in a day and is well above $1.9 trillion after dropping below $1.8 trillion two days ago.

Cryptocurrency Market Overview. Source: Quantify Crypto

Bitcoin’s Recent Local Peak

BTC’s weekend was quite calm after the asset failed to breach $42,000 on Friday. It had gone down to around $40,000 and spent almost 48 hours hovering above that line.

However, the landscape changed on Monday when a sudden price correction drove the largest cryptocurrency south. As a result, bitcoin lost roughly $2,000 in hours and dipped to a monthly low of just over $38,000.

As reported yesterday, though, BTC recovered all losses and even touched $41,000 briefly. Despite failing at first, the asset reclaimed that level as well and touched a 9-day high at $41,750 (on Bitstamp) earlier today.

As of now, BTC stands a few hundred dollars lower, and its market capitalization is slightly closer to the $800 billion mark.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

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Cryptocurrency charts by TradingView.