Crypto week: Bitcoin nears $29,400, Ether weekly fall over 10%, ApeCoin worst hit

livemint.com:

The crypto market had a volatile week with Bitcoin weighing on the bearish tone and Ethereum witnessing steep corrections. ApeCoin was worst in the last seven trading sessions in terms of percentage. Terra made a comeback with a rebranded chain called Terra Classic and a new coin called Terra LUNA in hopes to recover from the crash that made many investors poor.

As per CoinMarketCap, the global crypto market cap is at $1.22 trillion - a 1.50% increase over the last day. Meanwhile, the total volume stood at $50.89 billion, which makes a 29.85% decrease over the last 24 hours.

The total volume in DeFi is currently $5.01B, 9.84% of the total crypto market 24-hour volume. The volume of all stable coins is now $43.13B, which is 84.74% of the total crypto market's 24-hour volume.

Bitcoin traded currently at $29,343.59 up by 0.73%. The coin has touched an intraday high of $29,415.12. Its market cap was nearly $560 billion.

Ether traded at $1,812.97 up by 1.07%. It has a market cap of $219.14 billion. Ether which is the second-largest cryptocurrency after Bitcoin - had a rough week.

In the last seven days, Bitcoin has slumped by 2.4%, while Ether's weekly fall is around 10.5% as of today.

In the last seven sessions, ApeCoin was among the worst-hit coins with a drop of nearly 22%. Waves stood as the top bear slumping by over 25%, while STEPN, NEM, and Elrond dipped around 21% each in the week.

Terraform Labs launched its new blockchain on 28th May. The original Terra chain has been rebranded as Terra Classic, while a new chain has been created with the existing name Terra and made available for trading from Saturday onward. Due to the de-pegging of the former chain, LUNA is witnessing extreme volatility.

Under the rebranded