ApeCoin Price News: What is ApeCoin and why is it trending? Rs 1 lakh to Rs 1.5 lakh in 14 days!

ApeCoin (APE) price has jumped around 50% in the last 14 days. It is also one of the top most trending cryptos in the last few weeks, according to data on CoinGecko and CoinMarketCap. That means, if someone had invested Rs 1 lakh in ApeCoin 14 days back, his wealth would have grown to Rs 1.5 lakh by now!

As per CoinGecko data, ApeCoin price jumped from $11.57 on 17th April to over $26 on 28th April. At the time of press today, APE price was $17.44. Even as APE price has decreased by 30% in the last 24 hours, it continues to be one of the top trending cryptos.

Data on CoinGecko shows ApeCoin price has jumped 49.2% in the last 14 days and around 37.3% in the last 30 days.

Why APE price jumped

According to experts, ApeCoin price has jumped in anticipation of sale of 50,000 plots on Otherside, an upcoming metaverse platform by Bored Ape Yacht Club (BAYC).

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What is ApeCoin?

ApeCoin is an ERC-20 governance and utility token within the APE Ecosystem. It is a decentralised project inspired by Yuga labs’ Bored Ape Yacht Club. The coin has been launched for use within the APE Ecosystem.

ApeCoin is currently ranked 28th in the list of top cryptocurrencies by market cap on CoinMarketCap.

APE is run by a decentralised autonomous organisation called ApeCoin DAO. Even as ApeDao is separate from Yuga Labs, the BAYC creator, AP has been adopted by the company as the primary token for BAYC ecosystem as well as for future Yuga product and services.

According to Yuga Labs, Apecoin holders have governance rights over the DAO and its decision-making, along with some other perks.

BAYC had released APE in March this year. In the initial days of the launch, APE was trading at around $8.

ApeCoin was initially airdropped to BAYC NFT holders with the option to claim for free. The ApeCoin airdrop by YugaLabs came as a surprise to BAYC community members.

Circulating supply

The total circulating supply of ApeCoin is 100 crore. Of these, over 28 crore are already in circulation. According to APE creators, the maximum supply of ApeCoin would be 100 crore.