ApeCoin is the latest cryptocurrency released by Yuga Labs to build an ecosystem around the Bored Ape Yach Club NFT collection. After numerous articles published on major publications like The Verge and Tech Crunch hyping the release of the token, ApeCoin lost more than half its value within 30 minutes of being listed on CoinMarketCap. Let’s look at ApeCoin and see why the price is dropping so much? What Is ApeCoin? ApeCoin describes itself as a token for the Web3 economy. It’s a Metaverse crypto coin whose primary utility is currently governance of the APE Foundation. The Foundation facilitates community-based
The post Metaverse Coin ApeCoin Loses More Than Half Its Value Within 30 Minutes appeared first on The Merkle News.
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