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During the last 24 hours, the cryptocurrency community has been discussing the launch of a new token called apecoin (APE), released by the newly-formed Apecoin DAO. At launch, the token exchanged hands for $10.36 per coin, but dropped more than 40% to $6.21. Since the token’s all-time low and Bored Ape Yacht Club (BAYC) owners […]Powered by WPeMatico
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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The BAYC native asset is claimable for a 90-day window, with each holder receiving 10,000 ApeCoins.
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