ApeCoin, a project inspired by Yuga Labs’ Bored Ape Yacht Club (BAYC), has become one of the most buzzed subject in the crypto world over the last few days. In its first week in the crypto world, ApeCoin attracted a lot of attention after its debut on March 18. The BAYC-inspired ApeCoin became the most traded cryptocurrency among the biggest 1000 ETH wallets for the fifth day in a row.
How ApeCoin became the most buzzed subject in the crypto world
- The token ranked fifth among the top ten most recently bought tokens.
- ApeCoin is also placed fifth among Ethereum whales’ most utilised smart contracts.
- ApeCoin has hit 36742 wallet addresses just six days after its debut.
- ApeCoin exploded onto the market, quickly establishing itself as a top-50 cryptocurrency with over $7.77 billion in trades in its first 24 hours.
- ApeCoin’s value has dropped by 67 percent in the previous week after reaching highs of $40 from an initial listing price of $8.
- The token is trading at $13.1745 after falling 5% in the previous 24 hours.
However, the airdrop of ApeCoin spurred additional criticism of NFTs and Web 3.0, as it allowed rich NFT owners to gain millions of dollars overnight.
ApeCoin was created by ApeCoin DAO, a new regulatory body composed of all APE holders. The ApeCoin (APE) was released on March 18, and all investors in the Bored Ape Yacht Club and associated NFT collections, such as the Mutant Ape Yacht Club as well as the Bored Ape Kennel Club, received delivery of this token.
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