Apecoin Lost Around $2.5 Billion in Its Market Cap in May as Fear About Fading Investor Appetite Emerges

ApeCoin, one of the fastest rising coins in the crypto space, was one of the cryptocurrencies that was heavily impacted by the crypto disaster that rocked the market in May. Although the coin’s price showed robust performance in these turbulent market conditions, its market cap was affected. The coin now trades at $4.25 with a 4.1% increase in the last seven days, selling below its new swing high of $4.35. Data from Coingecko on Thursday showed that ApeCoin is among the top 50 crypto assets by market capitalization as the…

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What Ethereum use case can make ETH a $500B market cap asset: Community answers

While Ether’s (ETH) price dip over the weekend may have left investors worried about the digital asset, community members on Reddit conducted a discussion on Ethereum use cases that could potentially push the asset’s price upward.  In the Ethereum subreddit, a Reddit user asked fellow members of the community about ETH use cases that they think are capable of pushing the asset’s market capitalization to $500 billion. Criticizing smart contract use cases for real estate, the Redditor noted that they have not seen a convincing case that could solidify ETH’s…

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Tether’s USDT market cap dips below $70B for an 8-month low

Tether (USDT), the biggest stablecoin and the third-largest digital currency by market capitalization continues losing its market value amid the current market downturn. On Thursday, USDT’s market cap dropped below $70 billion for the first time since October 2021. The drop followed a cascade of repeated declines shortly after the USDT market value reached its all-time high above $80 billion in May. At the time of writing, Tether USDT’s market capitalization stands at $69.3 billion, up around $300 million from the multi-month low, according to data from CoinGecko. USDT 90-day…

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ECB may cap digital euro at 1.5T tokens — Executive board member

Fabio Panetta, an executive board member of the European Central Bank, or ECB, proposed the central bank limit the total holdings of a digital euro in an effort to prevent the digital currency from being used as a form of investment. In a Wednesday speech for the Committee on Economic and Monetary Affairs of the European Parliament, Panetta hinted the ECB could cap the number of digital euros between 1 and 1.5 trillion tokens. The proposed limit would be part of an effort aiming to disincentivize residents from HODLing tokens…

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Bitcoin price climbs to $22.5K after Fed 75 basis point hike aims to cap runaway inflation

Global financial markets were squarely focused on the U.S. Federal Reserve and its decision to raise interest rates by 75 basis points on June 15, the largest increase in 28 years as the central bank fights to tamp down the highest inflation rates in over four decades.  Data from Cointelegraph Markets Pro and TradingView shows that Bitcoin (BTC) and the wider cryptocurrency market fell under pressure in the early trading hours on June 15 as rumors of the possible collapse of Three Arrows Capital (3AC) spread across the ecosystem, which…

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Cryptocurrency Down Trend Continues As Crypto Market Cap Falls Below $1 Trillion

The crypto market’s woes continue to grow stronger and more oppressive, as the industry’s almost $3 trillion market cap has fallen to under $1 trillion. With the downtrend picking up more steam, bitcoin, ethereum and other altcoins are struggling to maintain themselves. In November of last year, the entire crypto market was at a market cap high of $2.8 trillion. However, in just six months, this value has plummeted. According to Coinmarketcap, the total cryptocurrency market caps now rests at $959 billion, while Coingecko charts show that the total market cap is just…

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Bitcoin passes $23.8K May low as crypto market cap drops under $1 trillion

Bitcoin (BTC) faced continued selling pressure before the June 13 Wall Street open as Ether (ETH) revisited multiyear lows. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin battles for $24,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD eclipsing its 10-month lows set in mid-May. The largest cryptocurrency faced bearish triggers on multiple fronts, these coming from both within and beyond the crypto sphere. Fintech protocol Celsius appeared on the brink of meltdown after operations were halted, turning billions of dollars in collateral into new risk for crypto markets. In an…

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The total crypto market cap drops under $1.2T, but data show traders are less inclined to sell

The total crypto market capitalization has been trading in a descending channel for the past 29 days and currently displays support at the $1.17 trillion level. In the past 7 days, Bitcoin (BTC) presented a modest 2% drop and Ether (ETH) faced a 5% correction. Total crypto market cap, USD billion. Source: TradingView The June 10 consumer price index (CPI) report showed an 8.6% year-on-year increase and crypto and stock markets immediately felt the impact, but it’s not certain whether the figure will convince the U.S. Federal Reserve to hesitate…

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Total crypto market cap risks a dip below $1 trillion if these 3 metrics don’t improve

The total crypto market capitalization has ranged from $1.19 trillion to $1.36 trillion for the past 23 days, which is a relatively tight 13% range. During the same time, Bitcoin’s (BTC) 3.5% and Ether’s (ETH) 1.6% gains for the week are far from encouraging. To date, the total crypto market is down 43% in just two months, so investors are unlikely to celebrate even if the descending triangle formation breaks to the upside. Total crypto market cap, USD billion. Source: TradingView Regulation worries continue to weigh investor sentiment, a prime…

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PancakeSwap governance proposal set to cap CAKE supply at 750M

PancakeSwap, the decentralized finance (DeFi) application built on Binance Smart Chain, synonymous with its automated market maker (AMM) service and its quirky branding style, has released a governance proposal for the second iteration of its tokenomics roadmap. The centerpiece of the lite paper’s new version suggested an imposed supply cap on the project’s native token, PancakeSwap (CAKE). Currently operating with a circulating supply of 293.4 million, according to quantitative data verified by CoinMarketCap, the paper advised a maximum figure of 750 million. A governance voting window was opened to the…

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