A while back, the team behind the famous Bored Ape Yacht Club launched non-fungible token (NFT) collection also has its own ERC-20 token. ApeCoin (APE) was the name and the token immediately received a lot of attention. Even major ethereum (ETH) investors, either whaleswere interested† At the moment, ApeCoin is even in third place of most popular coins among these whales.

ApeCoin

Since May, ApeCoin’s trading volume has averaged about $2.07 billion per day. This is a clear signal that the interest of investors in the project is still very high. Dates from WhaleStats confirms this signal. ApeCoin is in place 3 of the most bought tokens by the top 100 Ethereum addresses.

Only the stablecoin USDC and ethereum themselves are even more popular. Notable is the fact that ApeCoin is even more popular than Tether (USDT). On average, the top 100 ethereum addresses buy about 12,721 APE tokens with a market value of $157,609.

The popularity of ApeCoin is of course largely due to the success of the Bored Ape Yacht Club NFT collection from Yuga Labs. This collection with their iconic monkeys is today the third largest NFT collection by sales volume.

APE rate

Immediately after the launch of ApeCoin, the price shot up. Within minutes, the price of APE had risen from around $5 to $40. That is an increase of no less than 700%! However, there was quite a bit of uncertainty about the actual price of APE. This price came on a number of major crypto exchanges don’t match† The price of APE on Gate.io even reached an astronomical $214.

After a serious drop to around $10, a strong rise was again started. Once again, prices were reaching well into the $20 mark. However, this turned out to be short-lived, because at the end of April the price of APE completely fell along with the rest of the crypto market. After hitting as low as $8, the price managed to scramble back up slightly to around $9.8 at the time of writing.

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