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Highlights:
- ApeCoin is an ERC-20 governance and utility token in the APE ecosystem.
- It returned gains of over 52% in the last 7 days.
- The token reached the highest price of US$26.91 in the last 30 days.
With a booming crypto sector, non-fungible tokens (NFT) and metaverse-focused assets have been gaining traction lately. Projects like ApeCoin (APE) have also been drawing attention. The APE token price rose more than 2%, and its volume increased by 237% in the last 24 hours.
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What is ApeCoin (APE) crypto?
ApeCoin is the APE ecosystem's ERC-20 governance and utility token. It empowers and incentivizes the decentralized community, which it claims to be at the forefront of web3 development.
The decentralized project is inspired by Yuga Labs' Bored Ape Yacht Club project. The token holders govern themselves through the decentralized governance framework that controls the ApeCoin DAO. In addition, the token holders can vote on how the ApeCoin DAO fund should be used. The APE Foundation administers the proposals agreed upon by the APE token holders.
The ApeCoin DAO manages the APE Ecosystem. It offers the token holders an infrastructure to collaborate among themselves via a transparent and permissionless governance process.
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Why is it rising?
The token could be drawing investors' attention due to the planned "The Otherside" land auction on April 30. The auction is organized by Yuga Labs and Animoca Brands in partnership with Bored Ape Yacht Club NFT.
The Otherside auction would be a Dutch Auction style sale, in which only the KYC-approved wallets would be allowed to participate. A total of 100,000 land parcels would be sold in the first phase. All payments would be made through the APE token. In addition, the token provides governance only within the ApeCoin community.
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Data Source: CoinMarketCap.com
Bottom line:
The APE token was priced at US$22.50 at 12:28 pm ET on April 29, up 2.92%, while its volume for the last 24 hours skyrocketed 237.15% to US$6.86 billion. It has a market cap of US$6.40 billion, and its fully diluted market cap is US$22.49 billion.
The max and total supply of the token are 1 billion, and its current circulating supply is over 284.84 million. It returned gains of 52.51% in the last seven days while increasing 63.97% over the last 30 days.
The token saw the highest price of US$26.91 and lowest price of US$10.57 in the last 30 days.
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