ApeCoin Leads NFT, Metaverse Token Rally With Double-Digit Gains
ApeCoin (APE), the Ethereum-based token of the Bored Ape Yacht Club ecosystem, is up 15.7% over the past 24 hours and is currently changing hands at a two-week high of $5.19, according to CoinMarketCap. While APE’s recent price action can be seen as a part of a broader market recovery that took the price of Bitcoin above $20,000.
More specifically, the Ape Foundation recently outlined its recommendations for a new election process for the project's decentralized autonomous organization (DAO). The Ape Foundation current members are Alexis Ohanian, the Reddit co-founder, Amy Wu of FTX Ventures, Maaria Bajwa, Principal at Sound Ventures, Yat Siu, chairman of Animoca Brands, and Dean Steinbeck, president at Horizen Labs. Community members, however, have long been calling for more representation.
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