ApeCoin (APE) Riding High Following ‘Otherside’ Metaverse Launch

• Yuga Labs NFTs are also selling at record values on OpenSea.
• The cheapest Mutant Apes now cost 37.5 ETH.

Chainlink’s oracle network’s native token, LINK, was flipped by ApeCoin to become the 23rd biggest cryptocurrency asset by market cap, according to CMC statistics. To get it into the top 25 most valuable cryptocurrencies, ApeCoin has grown at a seldom-seen pace. Considering the token’s concise age, this rise is even more noteworthy and fascinating. However, it could not hold on to the momentum and went back down to the 28th position at the time of writing.

Multipurpose Benefits

According to the ApeCoinDAO, ApeCoin will serve as the utility token for all Yuga Labs-related projects, including the Bored Ape, MAYC, and Otherside Metaverse, which were all announced on March 17. All APE holders are instantly enrolled as ApeCoinDAO members and will have the opportunity to vote on matters of ecosystem management.

As many observers describe the token’s price history since its debut, wild price swings. Its value sank to an all-time low of $6.21 only a few weeks after its inception, but it quickly recovered and reached a new ATH of $26.7 on April 28. Yuga Labs’ Otherside metaverse initiative boosted the current ascent to its all-time high. As of now, the cost of a virtual land title is set at 305 ApeCoin. Decentraland’s MANA and The Sandbox’s SAND have also benefited from this price performance in the Metaverse.

Yuga Labs NFTs are also selling at record values on OpenSea in addition to ApeCoin. During the last 30 days, the floor price of Bored Apes has increased by 40%. According to the most recent data, the cheapest Mutant Apes now cost 37.5 ETH, a 70 percent increase from a month ago.