- ApeCoin price posted a recovery from double-digit losses; the Bored Ape Yacht Club's token crossed $13.
- Billy Markus, the co-founder of Dogecoin, criticized ApeCoin, arguing that the token hurts the NFT space.
- Coinbase listed Bored Ape Yacht Club's ApeCoin, pushing the token's adoption higher.
ApeCoin price recovered from a double-digit drop. Leading cryptocurrency exchange Coinbase listed ApeCoin, pushing the token's adoption higher. The NFT token received criticism from Dogecoin co-founder Billy Markus.
Also read: Gold Price Forecast: Why is XAUUSD under pressure?
ApeCoin price recovered after Coinbase listing announcement
ApeCoin price retraced its losses from March 17, 2022. The Bored Ape Yacht Club's NFT token suffered a colossal drop hours after its launch. Billy Markus, the creator of Dogecoin, who is now off the meme coin project, commented on ApeCoin.
Markus believes that NFT tokens like ApeCoin rally based on the token's hype. Markus argues that ApeCoin is hurting the NFT space.
sorry, i am not a fan of apecoin, mostly because i think it hurts the NFT space to bring in tokens, as token communities are generally hyper toxic and desperate
— Shibetoshi Nakamoto (@BillyM2k) March 18, 2022
as tokens do the hype and crash thing like every token does, often people start to get pretty obnoxious about it all
Coinbase, the largest cryptocurrency exchange by volume in the United States, announced ApeCoin's listing on its platform today.
Welcome to the club.
— Coinbase (@coinbase) March 17, 2022
ApeCoin ($APE) is now available on Coinbase! @BoredApeYC is on board too. pic.twitter.com/i9DeNJtbzJ
The developers launched ApeCoin behind the Bored Ape Yacht Club NFT collection. The ApeCoin DAO is the decentralized organization that launched APE. Owners of Bored Ape Yacht Club NFTs can receive APE tokens for free by claiming them on the official website of ApeCoin.
ApeCoin is available for traders on the world's largest exchange, Binance and Coinbase. Binance unveiled trading for ApeCoin on its exchange platform for users.
Trading for @apecoin $APE on #Binance is officially open!
— Binance (@binance) March 18, 2022
Supported trading pairs:
APE/BTC
APE/BUSD
APE/USDT
ApeCoin is an ERC-20 governance and utility token that will power the APE ecosystem. https://t.co/3pGFBTg5ZH
On Seychelles-based cryptocurrency exchange OKX, APE became the asset with the fifth largest turnover in spot trading overnight.
$APE has become the asset with the 5th largest turnovers on #OKX spot trading last 24 hours. pic.twitter.com/YarNpR4Js5
— Jay | OKX CEO (@Jay_OKX) March 18, 2022
@tedtalksmacro, a cryptocurrency analyst, analyzed the unlock schedule of ApeCoin. The total supply of ApeCoin is capped at 1 billion tokens. 28% of the token's supply is currently circulating across exchanges, and the remainder would be released consistently, increasing downward pressure on the NFT token.
Based on the unlock schedule, the analyst argues $56 million worth of ApeCoins would be unlocked every month, increasing the selling pressure on the circulating supply on Binance, Coinbase and other cryptocurrency exchanges. This could influence ApeCoin price negatively.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Shiba Inu eyes positive returns in April as SHIB price inches towards $0.000015
Shiba Inu's on-chain metrics reveal robust adoption, as addresses with balances surge to 1.4 million. Shiba Inu's returns stand at a solid 14.4% so far in April, poised to snap a three-month bearish trend from earlier this year.
AI tokens TAO, FET, AI16Z surge despite NVIDIA excluding crypto-related projects from its Inception program
AI tokens, including Bittensor and Artificial Superintelligence Alliance, climbed this week, with ai16z still extending gains at the time of writing on Friday. The uptick in prices of AI tokens reflects a broader bullish sentiment across the cryptocurrency market.
Bitcoin Weekly Forecast: BTC consolidates after posting over 10% weekly surge
Bitcoin price is consolidating around $94,000 at the time of writing on Friday, holding onto the recent 10% increase seen earlier this week. This week’s rally was supported by strong institutional demand, as US spot ETFs recorded a total inflow of $2.68 billion until Thursday.
XRP price could renew 25% breakout bid on surging institutional and retail adoption
Ripple price consolidates, trading at $2.18 at the time of writing on Friday, following mid-week gains to $2.30. The rejection from this weekly high led to the price of XRP dropping to the previous day’s low at $2.11, followed by a minor reversal.
Bitcoin Weekly Forecast: BTC consolidates after posting over 10% weekly surge
Bitcoin (BTC) price is consolidating around $94,000 at the time of writing on Friday, holding onto the recent 10% increase seen earlier this week.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.