$APE coin up 31% while Bored Ape NFTs prices rebound ApeC | NFT & Metaverse Technologies
$APEcoin up 31% while Bored Ape NFTs prices rebound
ApeCoin ($APE), the Ethereum-based token created for the growing BAYC ecosystem, is outperforming most major cryptocurrencies during the last week.
It’s now up 31% over the past seven days, with the increase coming ahead of the launch of ApeCoin staking rewards
The token is currently priced at $4.15 and has rebounded since hitting an all-time low price of $2.63 on November 14 amid the fallout from the collapse of crypto exchange FTX.
Over the last week, only three other coins or tokens in the top 100 have posted larger gains—including leading meme coin Dogecoin.
Staking is a common process among crypto process that lets token owners earn rewards by locking up and holding their assets using a specialized smart contract. Smart contracts are essentially the software that powers decentralized apps and NFT projects.
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