Crypto market capitalization regained the $1 trillion mark early on Monday, with APE and MATIC showing outsized gains for investors. By shauryamalwa
simultaneously. APE prices rose from last week’s $4.38 level to over $6 on Monday, posting gains of over 25% over the past week.
Some traders suggested a local bottom could be in for the broader cryptocurrency space. “The crypto market has seen a relief rally despite last week’s news regarding the latest inflation data,” said Marcus Sotiriou, an analyst at crypto broker GlobalBlock. “Headline CPI in the U.S. for June was 9.1% year-over-year, well above the median forecast of 8.8% and the highest since 1981. This is another blow to economic and social well-being, as the Federal Reserve is forced to be more aggressive.
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