Bored Ape Price Goes Up and Down As Investors Claim New Coin

Lutfi

Bored Ape Price Goes Up and Down As Investors Claim New Coin
Bored Ape Price Goes Up and Down As Investors Claim New Coin

Rancakmedia.com – It's hard to say whether the rise and fall of bored ape prices is surprising or not. Yacht Club of the Bored ape now has its own token. the ticker? APE, of course. And the launch is anything from boring.

Token price activity rocked one of the most popular NFT collections as soon as it appeared on tape on Thursday morning. Holder Ape Bored NFTs, as well as Mutant Ape Yacht Club (MAYC), are allowed to claim APE tokens.

As a result, BAYC's floor price rose from 92 ETH to 106 ETH at the time of publication, an increase of 13,2 percent, as investors rushed to acquire NFTs.

By 1 p.m. New York time, BAYC's floor price had plunged by a quarter, to 79,5 ETH before settling at 89 ETH, according to CoinGecko data.

Bored Ape Price Market Capitalization

As for APE, it boasted a massive market cap of $746 million on its first day. However, the token dropped 22% from its launch, likely because investors quickly flipped it to make a quick buck.

According to the page explaining the project specifics, BAYC token holders can claim 10.094 APE tokens, while (MAYC) token holders can claim 2.042 APE tokens. Holders of BAYC and Bored Ape Kennel Club (BAKC) or MAYC and BAKC can claim approximately 900 additional tokens.

In total, claimable tokens equal 150 million, 15 percent of APE's 1B supply. A dashboard from hildobby revealed that 15.230 addresses were eligible for the drop with 51 percent of them already claiming as of March 17.

Bored Ape Pricing Ecosystem

The project description focuses on culture. According to ApeCoin's about page, “APE is a token created to support what's next, managed and developed by the community. It will serve as a decentralized protocol layer for community-led efforts that drive culture forward into the metaverse.”

APE helps control the ApeCoin DAO, which is the governance structure responsible for what the project calls an “Ecosystem Fund.” The fund will be seeded with some fraction of 470 million, 47 percent of the APE supply, which is stated on the surrounding page to be for “DAO treasury and resources.”

No one seems to agree on how APE will function so far. It's hard to think of a token with greater excitement.

Influencer basedcarbon said, “It will be very interesting to see how the APE coin fares.” As far as tokenomics is concerned, “they haven't disclosed enough information for me to make any judgment.”

Bored Ape is a project with a lot of hype. Celebrities and sportspeople including Eminem, Justin Beiber, Stephen Curry, Paris Hilton, and Von Miller are all BAYC holders.

It's likely that tokens will be a method for people to engage with the project without having to pay significant money to bored apes. On March 11, when Yuga Labs announced their purchase of the intellectual property rights of CryptoPunks and Meebits, ETH's BAYC floor was 76,34 percent higher.

Lots of exchanges crypto The most prominent centralized exchanges that allow trading for APE include Binance, Coinbase, and FTX.

Fair and Open to All

The project also selected Reddit co-founder Alexis Ohanian, as one of five special board members as part of the APE Foundation, a centralized business.

“The goal of the APE Foundation is to shepherd the growth and development of the APE ecosystem in an equitable and inclusive manner,” the project's about page says.

Crypto initiatives sometimes attract regular companies at their inception to support the growth of truly decentralized organizations.

Yat Siu, chairman of the board of Animoca Brands, a company that previously collaborated with BAYC, is also a member of the special board. Siu has submitted two recommendations on the ApeCoin governance forum, on behalf of Anomica, with both referring to staking.

According to the project's surrounding page, 8 percent of APE tokens will go to BAYC creators, while 16 percent will be donated to “Yuga Labs and charities.” For next year, there are no pairs of tokens that can be used.

Launch contributors, characterized as “companies and people who helped make this project possible,” will earn 14% of the tokens. 10 million of them, or 1 percent of the supply, will be unlocked at launch, with the rest locked for at least six months.

Conclusion

Bored Ape Base Price Fluctuates as Investors Claim New Coins. APE boasted a market capitalization of $746 million on its first day. The token is down 22% from its launch, likely because investors flipped it to make a quick buck.

Bored Ape is a project with a lot of hype. Launch contributors, characterized as “companies and people who helped make this project possible,” will earn 14% of the tokens.

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Lutfi

Hi, let me introduce myself, Lutfi Hulasoh, I am a writer and techno blogger. I started creating a personal blog writing informative articles about the latest trends and developments in technology. My writing covers a wide range of topics, from mobile applications to artificial intelligence, and I can also provide easy-to-understand explanations to help readers understand complex concepts.