ApeCoin, the Ethereum-based token tied to Yuga Labs’ namesake The token has slipped 30% over the past seven days amid market turbulence sparked by growing geopolitical tensions in the Middle East. Extending losses over the past year, the price of ApeCoin has plummeted 74% since this time last April to a current price of $1.19, according to ApeCoin’s brush towards its all-time low price of $1.01 (set last October) comes as the token’s official steward, the ApeCoin DAO, weighs several proposals from community members. Notable initiatives include establishing a “Meanwhile, the That leaves the floor price for Bored Apes within 1 ETH striking distance of other notable PFP collections, including Pudgy Penguins, CyberKongz, and Grifters by XCOPY—despite broader headwinds in the NFT market over the last Published at the exact BAYC top pic.twitter.com/xFBSzdR0JP— UubzU (oob-zoo) (@UubzU) April 15, 2024The Bored Ape Yacht Club became synonymous with NFTs as pricey, digital status symbols in 2021 and early 2022. And as Yuga Labs’ ApeCoin is expected to be the de facto currency for Yuga Labs’ new projects, including the Otherside, which has held limited playtests but has yet to open up to players on an ongoing basis.In February, Otherside General Manager Eric Reid addressed the project’s pace in a “Building something like Otherside is measured in years, not weeks or months,” he continued. “Building the platform and refining our long-term vision has been challenging.”Earlier this month, the Bored Ape community was confronted with a cultural loss. Two years after it opened, the Los Angeles-based burger joint Bored & Hungry shuttered its doors, hanging up its hat—Edited by Andrew HaywardDisclaimerThe views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
