ApeCoin, the Ethereum-based token powering Yuga Labs' Otherside metaverse game, hit an all-time low as the Bored Ape Yacht Club NFT collection faced renewed pressure. ApeCoin is linked to the valuable Bored Ape profile pictures and fell to $1.77 before rebounding to $1.84. The market for PFPs is faltering, causing assets associated with Yuga Labs' smash hit to fall back to earth. Despite the decline, ApeCoin is still ranked #65 among all other tokens in terms of market capitalization, with a total value of $675 million.

July 4 (Cointime) - The NFT market has experienced a decline in interest, particularly affecting Yuga Labs' Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC). The introduction of Bitcoin Ordinals led to a rally in the NFT market, but interest has since declined.

July 3 (Cointime) -According to Theblock,Crypto networks Optimism, Aptos and ApeCoin are set for significant token unlocks this month, releasing more than a combined $100 million worth of tokens into circulating supply.

June 22 (Cointime) - Binance NFT has announced that users can now use staked Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) NFTs as collateral for NFT Loans through the Ape NFT Staking Program. This new feature allows users to earn ApeCoin (APE) rewards while staking their existing NFT collateral or gain access to higher liquidity by completing an NFT Loan with a staked BAYC or MAYC NFT.

ApeCoin holders are facing financial losses as 95% of them are experiencing negative returns. The declining network growth, dominance of short-term holders, and rising negative sentiment are posing challenges for ApeCoin's price.

ApeCoin has continued its bearish trend, dropping from $3.81 to $3.21, with a loss of over 46% since mid-February. The current price is just above the key support level of $3.20, and sellers are looking to extend the bearish trend.

The ApeCoin DAO has proposed the creation of a decentralized exchange (DEX) to benefit ApeCoin holders by enabling the decentralized exchange of ERC-20 tokens with multi-asset pools.

The ApeCoin Price Prediction for 2023-2032 indicates that the NFT industry is thriving and the Bored Ape Yacht Club project is successful in the blockchain industry. ApeCoin's current price is $3.31, with a 24-hour trading volume of $44,058,090. Although ApeCoin has been trading sideways for most of the past month, technical indicators suggest that it may continue to fall in the short term. However, according to the ApeCoin Price Prediction by Cryptopolitan, ApeCoin is expected to rebound by the end of 2023 and reach a maximum price of $4.63. The ApeCoin Foundation aims to create a decentralized future where everyone has an equal say and to use the APE ecosystem to create digital gaming, entertainment, and art.

Ethereum's gas fees have reached a new multi-month high due to a growing memecoin frenzy, resulting in a surge in daily revenue for the network.

The ApeCoin community has donated $1 million to support the ongoing development of the Ethereum blockchain. The community-led initiative, titled "I don't hate apes, I just want them to fund public goods," received a majority of votes in favor of the donation. ApeCoin is a cryptocurrency linked to the Bored Ape Yacht Club, a collection of unique digital ape NFTs. The proposal includes donating $300,000 to ETHGlobal and allocating the remaining $700,000 towards organizing 11 ApeCoin hackathons and supporting at least five public good initiatives. The proposer of the donation, ex-ApeCoin special council member Maariab, stated that Ethereum benefits from shared responsibility and collective appreciation, and the ApeCoin community should support the ecosystem.