ApeCoin extends losses, Bitcoin near $41,450

Cryptocurrency markets on Sunday were restless and erased some of their previous gains with the global market cap reaching $1.86T, a 1.92% decrease over the last day.

As per the CoinMarketCap, the total crypto market volume over the last 24 hours is $80.08B, which makes a 5.23% decrease. The total volume in DeFi is currently $13.89B, 17.34% of the total crypto market 24-hour volume. The volume of all stable coins is now $66.97B, which is 83.63% of the total crypto market’s 24-hour volume.

The top 10 baskets in cryptocurrency markets in terms of market cap – weighed on the broader markets. Bitcoin traded a little over $41,450 down 1.3%. However, Bitcoin’s dominance is currently 42.17%, an increase of 0.26% over the day.

Ethereum, BNB, Solana, Cardona, and Avalanche dipped between 2-5%. While Tether, USD Coin, XRP, and Terra were down from flat to around 1%.

ApeCoin has been trending this week on the market. Earlier this week, the Bored Ape Yacht Club NFT collection launched their very own cryptocurrency, ApeCoin. The digital currency is an ERC-20 token that is used within the APE ecosystem. Furthermore, ApeCoin is the ecosystem’s governance token, that allows the coin holders to participate in ApeCoin DAO.

ApeCoin is currently nosedived by more than 20%, pulling back from its March 17 level where the coin skyrocketed rapidly into the top 100 crypto world. However, today, ApeCoin was out of the top 40 clubs and held 46th position in the most valued cryptocurrency in terms of market cap.

On March 17, Apecoin’s market cap was near $4.1 billion making it the 33rd largest crypto token in the world.

This week (March 14 to 19), the crypto market recorded some good traction as a majority of the digital coins witnessed notable gains. Bitcoin even crossed over the $42,000 mark.

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