- The last week has seen an increase in ApeCoin’s price by 31% .
- Staking rewards are scheduled for launch on December 12.
- Floor prices of Bored Ape and Mutant Ape NFT have also increased by 34% in the last week.
ApeCoin has surpassed a number of key cryptocurrencies in the past week. During the past seven days, it has spiked by31% and the increase has been observed right before ApeCoin staking rewards’ launch.
The current price of the token is $4.15 and has bounced back after suffering an all-time low price of $2.63. Since that low, ApeCoin is up by 58%.
Previously, Today NFT News reported, ApeCoin & Horizen Labs to launch the staking system this autumn.
Horizen Labs shared upgraded launch information on November 23 regarding ApeCoin staking, which aims at offering token rewards to APE owners besides Mutant Ape and Bored Ape NFT owners. The staking interface will be released on December 5, before rewards that are scheduled for December 12.
GM $APE fam,— ApeCoin (@apecoin) November 24, 2022
We want to remind the community that one of the benefits of decentralized finance is that anybody can interact with a smart contract, or develop clients and interfaces that allow users to interact with smart contracts. https://t.co/qqZX0D5tgE
The announcement led to controversy on social media when Horizen shared that various territories would be unable to utilize its staking website owing to regulatory issues, which includes the United States too. Later, the Ape Foundation shared a tweet mentioning that potential workarounds are possible to be deployed in those areas.
There’s no doubt that investors might be collecting APE before the launch, hoping to maximize staking emissions, which are at the peak in the beginning. Despite the increase in the past week, the price of ApeCoin is down by 85% since a rise in late April before NFT land plots’ release for the forthcoming Otherside metaverse game.
With the increase in the prices, the prices for BAYC NFT are rising too. During the past many months, the blue chip collectibles have lost their appreciable value similar to other NFT projects in the ongoing crypto winter.
The floor price of Bored Ape has gone down from $429,000 in April to less than $60,000 in November. However, the price has gone up again in the last week from $63,600 to $82,300. BAYC has re-flipped CryptoPunks’ floor price, which is at $79,800.
During the last week, BAYC and MAYC have experienced a rise of over 34% rise in USD floor value for each NFT Price Floor. MAYC NFTs have increased to an ongoing price of $16,000.
Ever since an ApeCoin community NFT marketplace launched last Wednesday, a major positive price momentum has been seen for Bored Ape NFTs and ApeCoin. Snag Solutions has developed the platform after a vote by owners of APE Token, which was a surprise as Snag Solutions surpassed giants like Magic Eden & Rarible to built its own NFT marketplace.
Meanwhile, in October, ApeCoin DAO considered delaying APE staking and introducing a bug bounty scheme.