ApeCoin Makes Massive Leaps Within Its First Trading Day By DailyCoin


ApeCoin Makes Massive Leaps Within Its First Trading Day

‘ApeCoin (APE)‘ shot up in value by 173 percent in its first 24 hours of trading. Launched by Yuga Labs, the creators of the most successful NFT collection, ‘Bored Ape Yacht Club’, APE immediately became the cryptocurrency market’s new darling.

Accordingly, its price went through wild acrobatic swings during its first trading day. Initially, APE made a gut-wrenching nosedive from $40 to $8, losing around 80% in value less than 5 minutes after the BAYC native token was listed on major crypto exchanges.

Despite this, demand held strong and brought ApeCoin to a new peak of $17.75 on Friday morning, marking a price change of 173%. The total APE trading volume on different platforms surpassed $7.77 billion within 24 hours, according to CoinMarketCap.

Although APE has since corrected to $14.90 at the time of writing, it is still the 31st biggest crypto, with over $4.1 billion in market capitalization.

The token comes with a 1 billion APE maximum supply, of which 277 million is already in circulation. As declared by ApeCoin‘s official website, 62% of the total APE supply will be dedicated to NFT holders of the Bored Ape Yacht Club and the Mutant Ape Yacht Club, and treasury of the ApeCoin DAO.

ApeCoin holders will be able to use their APE tokens to influence the governance of the ApeCoin DAO, and to participate in the ecosystem to access exclusive games, merch, events, and services.

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Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



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ApeCoin Makes Massive Leaps Within Its First Trading Day

‘ApeCoin (APE)‘ shot up in value by 173 percent in its first 24 hours of trading. Launched by Yuga Labs, the creators of the most successful NFT collection, ‘Bored Ape Yacht Club’, APE immediately became the cryptocurrency market’s new darling.

Accordingly, its price went through wild acrobatic swings during its first trading day. Initially, APE made a gut-wrenching nosedive from $40 to $8, losing around 80% in value less than 5 minutes after the BAYC native token was listed on major crypto exchanges.

Despite this, demand held strong and brought ApeCoin to a new peak of $17.75 on Friday morning, marking a price change of 173%. The total APE trading volume on different platforms surpassed $7.77 billion within 24 hours, according to CoinMarketCap.

Although APE has since corrected to $14.90 at the time of writing, it is still the 31st biggest crypto, with over $4.1 billion in market capitalization.

The token comes with a 1 billion APE maximum supply, of which 277 million is already in circulation. As declared by ApeCoin‘s official website, 62% of the total APE supply will be dedicated to NFT holders of the Bored Ape Yacht Club and the Mutant Ape Yacht Club, and treasury of the ApeCoin DAO.

ApeCoin holders will be able to use their APE tokens to influence the governance of the ApeCoin DAO, and to participate in the ecosystem to access exclusive games, merch, events, and services.

EMAIL NEWSLETTER

Join to get the flipside of crypto

Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.

[contact-form-7]
You can always unsubscribe with just 1 click.

Continue reading on DailyCoin

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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