APE Coin Surges Into Top 100 While Bitcoin Maintains $40K

APE Coin surges into the top 100 while Bitcoin maintains the $40K price range as we can see more in today’s latest altcoin news.

BAYC’s new token ApeCoin found a place in the top 100 cryptocurrencies and hit a market cap of $2 billion a day after being launched. Following the recent price fluctuations, BTC calmed down on the daily scale and remained above the $40,000 price tag. Most altcoins were stagnating but the top 100 coins saw the entrance of the recently launched Apecoin which made a staggering success in the hours after launching.

Bitcoin’s volatility was evident in the past week as well as on Wednesday mornign when it surged by $3000 in minutes and hit $42,000. The asset dumped fast under $39,000 and resulted in more than $200 million worth of liquidations. Then the news emerged from the US Federal Reserve about the increasing interest rate by 25 basis points which sent BTC south by grand before recovering the losses right away. Bitcoin challenged $41,000 a day ago but failed to overcome it decisively. Since then, BTC remained stagnant and stands between $40,000 and $41,000.

As such, the market cap was unable to reclaim $800 billion and stands below $750 billion. Most altcoins went through similar price actions like Ethereum being among the few that are in the green as at a minor 1% increase which drove the second biggest crypto to $2800. Avalanche charted slight gains and now stands at $80 while in contrast, Terra lost the most value of up 6% and pushed the asset below $85. Cardano, Solana, Ripple, DOGE, and SHIB are in the red since yesterday.

The top 100 coins by market cap have a new representative and a few days after the launch, the new token of the popular NFT project Bored Ape Yacht CLub grew in the market cap to $2 billion. The total marekt cap of the crypto coins remained flat compared to yesterday at over $1.8 trillion.

As we reported yesterday, it was a tumultuous day for BAYC members and the long-awaited APE Coin has been officially released with those who held the NFTs can claim the airdrop. Right after the claim, the price of the collection crashed by 30%. the reports show that the BAYC token floor price of the NFT reached over 100 ETH and to be fair, it reached around 109 ETH at one point in the day.