Cryptocurrency Market Round-Up
Typically, cryptocurrencies are termed as digital currencies and use blockchain technology to record every transaction. Meme Coins are a category of cryptocurrencies that are typically created as jokes or memes, often with little to no inherent utility or technological innovation. Pepe (PEPE) is a meme-based cryptocurrency inspired by the popular internet character Pepe the Frog. Built on the Ethereum blockchain, it is a community-driven project aiming to capitalize on the success of other meme coins like Shiba Inu and Dogecoin. PEPE has a market capitalization of ~USD 4.01 billion (as per TradingView as of February 12, 2025).
Last week, the S&P Cryptocurrency Broad Digital Market (BDM) Index started on a bearish note and sustained downward momentum throughout the week. The index dropped 676.21 points (~11.03%), closing at 5,456.38 for the week ending February 7, 2025. As the new week begins on February 10, 2025, the index continues to exhibit negative momentum. Additionally, major cryptocurrencies like Bitcoin and Ethereum are also experiencing downward pressure, further contributing to the overall bearish sentiment in the crypto market.
Section 1: Key Performance Indicators:
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