- The ecosystem’s popular NFT collection saw a jump in trading and sales volume.
- Native ApeCoin token receives support from whales, but network traffic drops.
Yuga Labs’ top-tier NFT posted solid growth across most of its key performance indicators last week.
according to data from open seafolk collection Bored Monkey Yacht Club (BAYC) The trading volume increased by 150% in the last seven days and the number of sales increased accordingly.
On the other hand, the trading volume of Mutant Apes Yacht Club (MAYC) nearly doubled over the past week, and saw a substantial increase in its bottom price. The increase in the minimum price indicated that MAYC remained high on the NFT dealer and collector lists.
How much they cost 1,10,100 APE worth today?
Yuga Labs accused of intellectual property theft
Surprisingly, the growth in the above areas came amid a major controversy in which Era Labs allegedly used an unlicensed design for the logo for its Bored Ape Kennel Club (BAKC) NFT collection.
The Era Labs co-founder responded to the allegations, saying the BAKC logo would be changed. As of this writing, the controversial wolf skull has been removed from the logo. OpenC portal.
I saw the BAKC logo claims today. This was news to us and we are still investigating the situation. We reached out to the freelancer we hired for that easy layout and drawing guides. We are changing the logo and updating it on our site / requesting the market to change it as…
– Garga.eth (Greg Solano) (@CryptoGarga) February 18, 2023
ecosystem NFT token Application Currency (APE) The episode also managed to shake off the negativity as it became one of the most widely used smart contracts among major Ethereum (ETH) whales, according to a tweet from WhaleStats.
by bus: $monkey @ApeCoin One of the 500 most used smart contracts #ETH whales in the last 24 hours 🐳
we have $nmr, $uni, $shib, $matic AND $LDO 👀 in the list
Whale Classification: https://t.co/tgYTpOm5ws#BUN #whalestats #baby whale #bbw pic.twitter.com/U3QhL8SJQD
– WhaleStats (crypto whale tracking) (@WhaleStats) February 19, 2023
Unlocking Tokens Could Derail ApeCoin
According to data from Sentiment, despite the interest shown by the whales, the supply of APE on the exchanges increased. An increase in this metric serves as a bearish signal for the token price.
On-chain data did not generate much enthusiasm either. There has been a sharp decline in daily active addresses in the last 10 days. The token also failed to attract new users as implied by the network’s declining growth graph.
A combination of these factors could have affected investor confidence, which was reflected in a drop in the weighted price of the coin. But what could be behind this subpar performance?
Reading Apcoin (APE) Price Prediction 2023-2024
AppCoin recently released some coins to the market as part of its Token unlock scheme.
The increase in circulating supply caused the price to fall by up to 8%.
With another unlock due within a month, headlines were concerned about a further drop in the value of the coin.
At the time of writing, APE is trading at $5.71, up 1.71% from the previous day. coin market cap.