cryptocurrency Markets on Sunday were unsettled and erased some of their earlier gains with the global market capitalization hitting $1.86 trillion, down 1.92% from last day.
According to CoinMarketCap, the total volume of the crypto market in the last 24 hours is $80.08 billion, which represents a decrease of 5.23%. Total volume in DeFi is currently $13.89 billion, 17.34% of the crypto market's total 24-hour volume. The volume of all stable coins is now $66.97 billion, which is 83.63% of the total 24-hour volume of the crypto market.
The top 10 baskets in the cryptocurrency markets in terms of market capitalization weighed on the broader markets. Bitcoin traded just over $41,450 down 1.3%. However, Bitcoin dominance is currently at 42.17%, an increase of 0.26% on the day.
Ethereum, BNB, Solana, Cardona and Avalanche fell between 2 and 5%. While Tether, USD Coin, XRP and Terra all dropped flat to around 1%.
ApeCoin has been trending this week in the market. Earlier this week, the Bored Ape Yacht Club NFT collection launched its own cryptocurrency, ApeCoin. The digital currency is an ERC-20 token used within the APE ecosystem. Furthermore, ApeCoin is the governance token of the ecosystem, which allows coin holders to participate in ApeCoin DAO.
Currently, ApeCoin has plummeted by more than 20%, reversing from its level on March 17, where the coin quickly rocketed into the top 100 of the crypto world. However, today, ApeCoin was out of the top 40 clubs and ranked 46th in the most valued cryptocurrency in terms of market cap.
As of March 17, Apecoin's market capitalization was close to $4.1 billion, making it the 33rd largest crypto token in the world.
This week (March 14-19), the crypto market saw good traction as most digital currencies posted notable gains. Bitcoin even crossed the $42,000 mark.
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