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ApeCoin Skyrockets 16% Daily, Bitcoin Taps $20K (Weekend Watch)


After the recent volatility and price declines, bitcoin finally saw some relief by touching $20,000.

Most altcoins have seen slight gains as well. Once again, though, Ripple stands out as the best performer from the larger-cap alts, while ApeCoin has soared by 16%.

BTC Back at $20K

It’s safe to say that the past week or so didn’t go all that well for the primary cryptocurrency. The asset had spiked to a multi-week high at just under $23,000 on September 13, but the overall bearish sentiment and the US CPI numbers brought it down quickly.

In a matter of a day, bitcoin found itself fighting to stay above $20,000. Although it did so initially, it inevitably fell below it at the end of the working week.

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BTC’s weekly low came at $19,300, marked on Friday, but the asset reacted somewhat positively at that point and bounced off by a few hundred dollars.

It kept climbing in on Saturday and early on Sunday, and thus it currently exceeds $20,000. Nevertheless, its market cap is still below $400 billion, while its dominance over the altcoins has stalled at 39.5%.

BTCUSD, Source: TradingView

XRP, APE on the Go

Ever since the much-hyper Ethereum Merge took place on Thursday, the price of the native cryptocurrency has struggled. Initially, it reacted calmly to the PoW-to-PoS change but began its freefall in the following hours.

Thus, ETH dumped from $1,600 to a multi-week low beneath $1,400 in about a day. As of now, the second-largest crypto stands at $1,450 after a minor daily increase.

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Similar gains are evident from Binance Coin, Cardano, Solana, Dogecoin, Shiba Inu, and MATIC from the larger-cap alts.

Interestingly, Ripple has once again outperformed all others in the top 10 with another massive surge. An 11% increase has pushed XRP to just under $0.4.

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ApeCoin has emerged as the biggest gainer from the mid-cap alts. APE is up by over 16% on a 24-hour scale and trades well above $5.5.

Nevertheless, the crypto market cap has remained still below the $1 trillion mark.

Cryptocurrency Market Overview.  Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto
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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.



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