ApeCoin price rises as strike program gets closer

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What is the reason for the huge ApeCoin price increase?

ApeCoin, the coin that powers the Bored Ape Yacht Club ecosystem, has surged in the past 24 hours.

New 30-day highlight

Earlier today, the ApeCoin price reached a new 30-day high of $6.12. The APE price is around $5.65 at the time of writing. This means that the token is still 7 percent higher than a day ago. In addition, trading volume also increased by more than 33 percent in the past 24 hours.

The total number of unique wallet addresses with APE has shown a slight growth of 0.008% in the past 24 hours to 90,305. APE is currently the 32nd largest cryptocurrency and has a market cap of just under $1.73 billion.

What is ApeCoin?

ApeCoin is an Ethereum-based coin that powers the growing ecosystem of projects based on the Bored Ape Yacht Club. The coin was created by ApeCoin DAO, a decentralized autonomous organization set up to manage the coin and its future roadmap.

ApeCoin is preparing to launch a strike program. In May, ApeCoin holders voted to choose Horizen Labs to build their staking platform. This platform will provide token rewards to users who stake (or hold) ApeCoin, Bored Ape, and Mutant Ape NFTs.

Earlier this month, Horizen Labs gave a preview of the strike program’s user interface. The platform is gearing up for its expected launch in Fall 2022. Last week, the company announced its plans to host a Twitter platform on September 22 to keep the community updated on the latest developments.

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