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HomeCryptoYuga Labs: Sailing Smoothly For NFT Harvesting, But AppCoin Could Brace The...

Yuga Labs: Sailing Smoothly For NFT Harvesting, But AppCoin Could Brace The Heat money moguls


  • 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.

Source: OpenC

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.

Source: OpenC

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.

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.

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.

Source: Feeling

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.


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