Bored Ape Yacht Club’s ApeCoin (APE) breaks into top 40 after airdrop
Updated
ApeCoin, a governance and utility token for the world’s biggest non-fungible tokens (NFT) community, Bored Ape Yacht Club (BAYC), is now the 33rd biggest cryptocurrency by market capitalisation following Wednesday’s airdrop.
APE was initially released by BoredApe DAO (decentralised anonymous organisation) to BAYC community. APE is a token “for culture, gaming and commerce used to empower a decentralised community building at the forefront of web3”.
According to CoinMarketCap.com figures, the early holders saw some 1,400% return on APE, but the coin was down 377% over last 24 hours.
ApeCoin’s total supply is permanently fixed at one billion tokens. The launch was split as follows: 62% of APE tokens were released BAYC NFT holders, 16% to BAYC creator Yuga Labs and charities, 14% to companies which partnered on the launch and 8% to BAYC founders.
The coin was then listed on the major exchanges the likes of Coinbase, FTX in the following days.
Over the last 24 hours, APE saw a high of $39.40 and lows of $1.00, according CoinMarketCap.com. In European morning trading, the coin was at about $15.35.
Introducing ApeCoin ($APE), a token for culture, gaming, and commerce used to empower a decentralized community building at the forefront of web3. ????
— ApeCoin (@apecoin) March 16, 2022
Quote of the day: “Hype and crash”
Founder of dogecoin (DOGE) is not a fan of APE:
What is your sentiment on DOGE/USD?
sorry, i am not a fan of apecoin, mostly because i think it hurts the NFT space to bring in tokens, as token communities are generally hyper toxic and desperate
— Shibetoshi Nakamoto (@BillyM2k) March 18, 2022
as tokens do the hype and crash thing like every token does, often people start to get pretty obnoxious about it all
Other news: Gamestop to launch NFT by the end of July
- Videogame retailer, Gamestop (GME), will launch an NFT marketplace by the end of July, the company revealed in its fourth quarter 2021 report. “[Gamestop] entered into a partnership with Immutable X that is intended to support the development of GameStop’s NFT marketplace and provide the company with up to $150m in IMX tokens upon achievement of certain milestones,” the firm said in the report.
Top coins by market capitalisation
As of 09:30 GMT
- Bitcoin (BTC) was flat, trading $40,593 - 0.6% below its value from 24 hours ago.
- Ether (ETH) climbed 1.2% to $2,800.
- Binance coin (BNB) added 0.6% to $387.
Winners and losers
- Recently airdropped ApeCoin (APE) is the 33st biggest cryptocurrency by market capitalisation.
- Terra (LUNA) lost 14% over the last seven days.
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