Highlights: Cryptos show correction, Wall Street’s worst quarter in 2 years

The crypto market as a whole was lower over the past 24 hours. All top 10 cryptos either registered declines or were seen flat at the time of writing.

US markets closed yesterday with the worst quarterly performance in two years. All three major indices were down sharply in the session with the SPX500 falling 1.32%, while the DJ30 was down 1.25% and the NASDAQ100 off 1.29%.

US President Joe Biden has announced an unprecedented US Government intervention in the oil market. It plans to release 180 million barrels of oil to the market over six months.

Top cryptos

Bitcoin fell nearly 5% since yesterday, while BNB, Cardano and Avalanche each declined more than 5%. XRP lost almost 6%.

Shiba Inu and Polkadot are the biggest losers in the top 20, down around 8% at the time of writing.

Top movers

The situation in the top 100 was similar, with most coins losing 6-9% of their value in the last 24 hours. Neo and Gala each lost 10%. Chiliz and IoTeX each lost 12%, reversing yesterday’s gains.  

At the other end, Waves is among the few winners, up more than 9% today. Fantom, which announced a $480 million grant program yesterday, gained 3%.

Zilliqa is also up 3%. It has been rallying as the launch of its metaverse approaches. SKALE Network, which is becoming increasingly attractive to developers, added 5% to its value.

The biggest mover by far is STEPN with gains of 49%. The value of GMT, its native coin, has been rising steadily since the beginning of March 2022, when it was listed on Binance.

It is surging on news of a major, but unrevealed upcoming partnership between STEPN and an unknown entity, believed to be Binance.

Trending

The top gainer today is Dotmoovs (MOOV), which is up 222% in the last 24 hours. It is a remote peer-to-peer sports competition platform that promises to revolutionise the way people see athletic performance.

The platform claims to have developed an AI algorithm that enables them to forecast sports tricks and movements through a video taken with a smartphone.

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vEmpire DDAO introduces staking in ApeCoin

vEmpire DDAO, the global NFT investment organization, GameFi platform, and metaverse, has introduced staking for the ApeCoin cryptocurrency. The yield on staking starts in triple digits, CoinJournal learned from a press release.

Growing the number and range of use cases

Previously, ApeCoin could only be used for purposes related to governance, giving holders the right to vote on ApeCoin ecosystem fund distribution and allowing them a say in matters related to the ApeCoin DAO.

Now that an APE staking pool has been launched, ApeCoin holders can earn interest while obtaining greater exposure to the ecosystem throughout the year.

Rendering holdings productive

With each APE staked, vEmpire will buy additional assets based on APE and play games within the ApeCoin ecosystem. This will make investors’ APE holdings productive, enabling them to generate passive income.

vEmpire CEO Dominic Ryder said:  

Enabling our community to stake $APE is something that we believe will be groundbreaking. It enables investors to earn financial rewards on their $APE holdings in ways that even ApeCoin doesn’t have native functionality for. This will help contribute to making the investment in Metaverse assets more accessible, rewarding, and productive. The launch of the ApeCoin itself is revolutionary. However, being able to earn passive income on the ApeCoin before most others in the industry is what we believe will attract investors the most. vEmpire is committed to offering the best investment opportunities to not only our community but the wider Metaverse & NFT communities too. This is just one of many more exciting staking pools coming this year.  

About ApeCoin

ApeCoin is an ERC-20 utility and governance token deployed within the wider ApeCoin ecosystem, which has undergone huge growth since its launch on March 17. The coin quickly soared to #45 by market cap.

At the time of writing, APE was trading for $12.82 with a 24-hour trading volume of $842 million. ApeCoin is down 7.49% today.  

 

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