Apecoin [APE], the primary token of the Yuga Labs ecosystem, recently released about 40 million tokens in the market as part of its scheduled linear unlock.

ApeCoin, a decentralized cryptocurrency that operates on the Ethereum blockchain, recently announced a 1-month linear unlock of 4% of its total token supply.

ApeCoin, APE on the ticker, is the Yuga Labs cryptocurrency. APE connects with Bored Ape, Mutant Ape and Otherdeed communities.

In January, ApeCoin (APE) had an underwhelming performance compared to metaverse-based tokens like Decentraland (MANA) and The Sandbox (SAND). APE token gained 61% compared to the 90% and 150% respective gains seen in SAND and MANA. The subdued gains can be attributed to the hefty APE staking rewards that is likely creating some selling pressure.

ApeCoin [APE] has been experiencing selling pressure for quite a few days, as was evident from its recent price action. According to CoinMarketCap, APE registered over 14% decline in its price over the last seven days, and at the time of writing, it was trading at $5.05 with a market capitalization of over $1.86 billion. Interestingly, Lookonchain revealed that APE’s buying and staking were on the rise since the collusion months of 2022. 

Yuga Labs has launched a new game that has taken the NFT world by storm. According to Delphi Digital, players have spent over two million dollars on the company’s new title, making it one of the most successful game launches in the NFT world.

In the wake of the success of the Bored Apes, ApeCoin (APE) launched, and an unprecedented crypto windfall stunned the cryptoverse, where every holder of a BAYC NFT could claim over $100,000 in ApeCoin (APE).

ApeCoin may have hit a local top after a steady climb of 78% over the past six weeks, according to Santiment Analytics.

Token unlocks are scheduled for February will release $588.4 million worth of tokens into circulation, according to data from Token Unlocks.

ApeCoin [APE] has been oscillating between $5.386 and $6.000 since 22 January. But it broke above the range and reached $6.410 after BTC surged to $23.8K. 

The Bored Ape Yacht Club NFT collection has been the target of an exploit this January 20th. FranklinIsbored, one of the biggest holders of BAYC NFTs, is targeted with an exploit of OpenSea’s stolen ApeCoin policy which allowed the attacker to sell a marked Bored Ape.

Investors and traders of ApeCoin (APE) have been seeing some big gains since the start of 2023. With the crypto market experiencing a surge in prices, ApeCoin has been riding the bullish wave upwards showing gains on almost all timeframes. 

Shiba inu moved to a five-week high during Tuesday’s session, despite cryptocurrency markets mostly consolidating. As of writing, the global crypto market cap is trading 0.20% lower, however the meme coin is up by nearly 5%. Apecoin also surged in today’s session, as it rose to its strongest point since November.

Non-fungible tokens (NFTs)-related cryptocurrencies surged Thursday on the report that the asset class did not perform poorly in 2022, despite the bear run. According to data from DappRadar, NFT sales volumes in 2022 ducked to $25.1 billion from $24.7 billion in the prior year.

As of this very moment, the ApeCoin market is positioned live on the Pendle. Due to this, from here on, the $APE becomes available at a massive discount, amounting to a full 50%. In turn, one can farm the $APE pool rewards at a good 387% APY, or maybe just that much more.

Last Friday, two investors who purchased ApeCoin tokens sued Yuga Labs, the parent of the Bored Ape Yacht Club series, along with company executives, board members and a group of promoters. The investors hope for Adonis Real et al. v. Yuga Labs, Inc. et al. to be certified as a class action on behalf of all who purchased Yuga’s NFTs or ApeCoin tokens between Apr. 23, 2021 and now. The 95-page complaint, which was filed in a Los Angeles federal court, raises claims for unfair competition, unjust enrichment, violations of consumer law, aiding and abetting, civil conspiracy and multiple breaches of federal securities law. It seeks a jury trial and at least $5 million in damages.

The announcement of <a href="https://ambcrypto.com/?s=ape">ApeCoin’s [APE]</a> staking rewards increased the hype around the token. Subsequently, there was a lot of interest in the token and the NFTs associated with it.

One day after the Ape Foundation opened staking for its <a href="https://www.coindesk.com/price/apecoin/">APE</a> currency, over $30 million worth of the token has been deposited into its <a href="https://etherscan.io/address/0x5954aB967Bc958940b7EB73ee84797Dc8a2AFbb9">contract</a>.

Holders of Bored Apes and Mutant Apes are losing their staked apecoin because they failed to delist their paired NFTs before staking their tokens.

Over $20 million worth of ApeCoin (APE) has been staked less than 24 hours after its staking feature went live, according to Etherscan data.