Connected to Bored Ape Yacht Club, one of the world’s most popular NFT collections ApeCoin, It gained nearly 90% on the second day of its release.
altcoin While the price reached $ 6.48 on Thursday, it is trading at $ 13.91 at the time of this writing. During the day, ApeCoin climbed up to $ 17.75.
ApeCoin Becomes the 33rd Largest Cryptocurrency in the World
With the recent price rise, the total market cap of the altcoin rose to $3.8 billion, and at the time of this writing, it is the 33rd largest cryptocurrency in the world, according to CoinMarketCap data. However, CoinGecko has listed the altcoin’s market value as $1.7 billion and appears as the 66th largest cryptocurrency in the world on its list.
What Do Analysts Comment?
“The Bored Ape Yacht Club and Mutant Ape Yacht Club communities are strong,” said Alexandre Lores, director of blockchain research at Quantum Economics.
In addition, Lores noted that the same traders speculating in AMC stock, Dogecoin and Shiba Inu cryptocurrencies may have turned to the “Ape” investment sector:
“AMC stocks, Dogecoin and Shiba Inu are suffering heavy losses. However, we see that the Bored Apes stand firm. They act as status symbols like Rolex and Lamborghini. If you have accomplished something and you have the Bored Ape Yacht Club NFT.”
However, the base price for Bored Ape Yacht Club’s original NFTs is 93 Ethereum (approximately $260,000).
People who own Bored Ape Yacht Club NFTs were given 10,000 ApeCoins per NFT they owned. However, 15% of the total supply of the altcoin was distributed to users free of charge.
The trend coin of recent days, APE, has been listed on many of the major cryptocurrency exchanges such as Coinbase, Binance, FTX and Gemini.
However, it is not recommended by experts as it is too risky to invest in such high-rise coins.