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.

<a href="https://ambcrypto.com/?s=apecoin">ApeCoin [APE]</a> has performed well in the markets in the past ten days. It flipped the $3.2 area from resistance to support on 25 November and posted a 39% surge over the five days that followed. Since then, APE saw a pullback to $3.88.