ApeCoin (the most prominent and attention-grabbing crypto project of all time) has fallen to a low point.
ApeCoin failed to make a comeback despite being adopted by whale traders as well as investors in its initial days. In less than 24 hours, ApeCoin suffered a 27% loss. This happened despite the fact that Times Magazines recently announced a collaboration with ApeDAO to incorporate APE coin into a payment method.
ApeCoin Prices Continue to Rise
On Friday, 18 April 2018, the All-Time High price for ApeCoin (ETH-based NFT utility to token) was $17.81Th March, close to the coin’s listing price of $20, almost three days ago. ApeCoin’s stock has declined by almost double since then.
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It’s worthy to note that the NFT token is available for purchase at major crypto exchanges like FTX, Binance, Gemini, Coinbase, eToro, and several other leading exchanges. It is easily the most-purchased NFT token of all ETH whales, which is a notable fact.
They accepted it and have even put it up on their cryptocurrency marketplaces.
Amazingly, ApeCoin has arisen as Ethereum’s most traded NFT token and even ranked among the top 5 purchased coins in the last 24 hours. WhaleStats, a top ETH whale analytics platform provided this data. Just hours after the token’s deployment into the market, Ethereum whales rushed over to invest in the BAYC (Bored Ape Yacht Club) token.
TIME has announced its interest in the Token
Time Pieces, one of New York’s leading news publishers and magazines, announcedIts collaboration with ApeCoin token. In a statement, the company stated that digital subscriptions will be possible within their platform using the ApeCoin token in the coming weeks.
Yuga Labs Make Publications Of Further Developments
Recently, the developers of one of the leading NFTs – the Bored Ape Yacht Club collection teased the release of an ApeCoin-powered metaverse in their tweet. The Yuga Labs are also available. announcedThe ApeCoin will be applied to another level at the end of April 2022.
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Analysts from Crypto analyze The ApeCoin price
Analysts and crypto pundits analyzed Eth-based NFT tokens and forecasted their price trends. In their observation, the decreasing 20-day & 50-day EMA (Exponential Moving Average) provide bear traders a great opportunity. An increase in the NFT token’s selling pressure has spurred the token’s price drop.
The Bored Ape Yacht Collection trades at 78 ETH right now, a drop of 30% from its peak of today. Other well-known celebrities, such as Justin Bieber or Serena Williams, joined the club to purchase the BAYC NFT Collection.
Featured Image from Pixabay. Chart by TradingView.com