ApeCoin Soars 16% Daily, Bitcoin Touches $20,000 (Weekend Watch)

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

Most altcoins have also had small gains. However, once again Ripple stands out as the best performer from the larger companies, while ApeCoin has risen by 16%.

BTC Back to $20K

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

Within a day, bitcoin found itself struggling to stay above $20,000. Although it initially did, it inevitably fell below that by the end of the work week.

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

It continued to climb into Saturday and early Sunday, thus currently surpassing $20,000. Nevertheless, its market cap remains below $400 billion, while its dominance over altcoins has stalled at 39.5%.

XRP, APE on the move

Ever since the much-hyped Ethereum merger 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 below $1,400 in about a day. As of now, the second largest crypto stands at $1,450 after a minor daily increase.

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

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

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

Nevertheless, the crypto market capitalization has remained below $1 trillion.