The APE token pulled in $30M worth token into APE foundation deposits within a day after the opening of staking the APEcoin currency by the APE foundation.
ApeCoin is the new member of the crypto Etherium gang, just released and made available by Yuga Labs to be used as a new token for all its services and products. The ApeCoin is mainly the currency for the Ape NFTs Ecosystem. In March 2022, the token was transferred to the prominent Web3 NFTs holders of Bored Ape Yacht club and Mutant Ape Yacht Club. And surprisingly, a one billion supply of ApeCoin token pulled up by the company was minted in one go.
APECoin On Web3 Community
ApeCoin seems to plant the seeds of a decentralised Web3 community and provide a platform for numerous community-led projects in future. It enables its holders to shape community rules and gain exclusive access to services, games and special offers.
ApeCoin aspires to be a decentralised cryptocurrency and its usage, while acting as a utility, doesn’t need special centralised channels. A sparkling feature of ApeCoin is the incorporation of third-party developers to enable the exchange of ApeCoin for games, unlocking levels and services.
APE was at its peak back in April and trading for around $22. Trending downwards after that, the token is now at a live price of $ 3.9 USD with a 185.5M trading volume in 24 hours. Nevertheless, a stability in price is observed during the past two weeks leading to staking. However, there is bad news for Bored Ape holders – token staking is restricted in some parts of the world even the United States of America owing to some regulatory policies; a reason as given by the company itself.
The Ape Staking hoopla is hitting the Binance Marketplace soon. A 96M $APE reward is set aside for the participants of the staking of ApeCoin. All the holders of apecoin coinmarketcap can mark Dec 12 on their calendars to get rewards and visit ApeStake.io to start staking their Bored Ape & Mutant Ape NFTs.
It was not until the celebs like Justin Bieber and Jimmy Fallon invested handsome dollars in Ape NFTs, it prices spiraled up and the Bored Ape Yacht club gained popularity.
SELL IT AND YOU LOSE IT ALL
Tweets are made to spread awareness among Ape NFTs holders for staking and selling of their Ape.
Many people have suffered losses due to selling staked Ape and not knowing that they are selling the key to their safe. So there is this important consideration; people who are staking Ape NFTs remember not to sell it, if it is sold, the staked Ape also goes to the new buyer and the seller loses it all.
Nonetheless, the price of Ape NFTs is recorded to be under 70 ETH worth around $87,000 and the staking game hasn’t done much to bring up the prices for Ape NFTs.