Yuga Labs’ crypto token ApeCoin (APE) has reported a 15% value drop over the previous two weeks, hitting an all-time low of $1.58 final Friday. What’s the value of ApeCoin? Let’s test it out!
TL;DR
- Yuga Labs’ ApeCoin token skilled a major decline, dropping practically 93% from its all-time excessive in March 2022.
- ApeCoin is presently priced at $1.58 and the token’s worth is displaying a decline on the 30-day chart.
- The bear market has impacted Yuga Labs’ flagship venture, Bored Ape Yacht Membership, and regardless of ApeCoin’s excessive market capitalization of $704 million, ApeCoin’s value drop has affected different initiatives like Otherside. may have an effect on
How a lot did the value of ApeCoin fall?
Yuga Labs goes by way of a tough time following the surprising drop in ApeCoin token over the previous 14 days. APE has fallen practically 93% from its all-time excessive of $26.70 in March 2022, in keeping with CoinGecko information.
Final Friday, the token was price $1.58. On the time of writing, ApeCoin is priced at 1.91%. Visually, it seems like this:
Can Yuga Labs get well from a bear market?
At the moment, the NFT market is recovering from the bear market that started in 2022. Sadly, Yuga Labs’ prime blue chip venture, the Bored Ape Yacht Membership, remains to be struggling as of July this 12 months.
For instance, the very best and lowest value reported for the long-lasting PFP in March 2022 was 152 ETH (roughly $429,000). Quick ahead to July and the bottom value for the gathering is simply $52,000.
The latest drop in ApeCoin value may have an effect on different Yuga Labs initiatives resembling Otherside. Cryptocoins are the venture’s native token and have been a key part of the second Otherside playtest.
Regardless of this, ApeCoin stays one of the vital metaverse tokens in the present day. The $704 million market cap is considerably larger than different initiatives, so it is nonetheless price contemplating.
