Several altcoins are gaining attention as the cryptocurrency market is on the mend, including ApeCoin (APE) and Curve DAO (CRV), which are up 17% and 24% respectively in the past 24 hours. People become more optimistic as a result of these improvements.
ApeCoin (APE) is ranked number thirty-three in the top 100 coins. It is an ERC-20 token generated for governance and utility. The decentralized autonomous organization ApeCoin DAO developed and launched the coin and is based on the Ethereum blockchain network.
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APE has climbed dramatically from its June low of $3.1189. According to data from CoinGecko, ApeCoin price today is $6.7739, up 17% from the previous day and up 43% from last week. Its current market capitalization is $2.08 billion, with a significant increase of 16% in the last 24 hours.
APE is linked to the famous Bored Ape Yacht Club. Yuga Labs has developed the Bored Ape Yacht Club, a 10,000 strong non-fungible token (NFT) with an ape theme with various distinctive looks and qualities, such as digital art, image, music and video files which have been tokenized and protected using blockchain technology.
Its price rose after Yuga Labs gave a select group of players a preview of its Otherside metaverse. Therefore, this could be one of the main causes that contributed to the increase in APE prices.
According to announcementthe 4,300 players, known as “Voyagers”, were welcomed to the immersive monkey avatar-browsing internet platform on Saturday for a technical presentation and guided tour.
Curve DAO (CRV) is constantly struggling to recover its value
Due to the market crash this year, other coins are struggling to recover, and CRV is also on the road to recovery with them. Curve DAO is a native token for Curve Finance, one of the largest decentralized finance (DeFi) systems in the world.
Since its introduction, Curve DAO has attempted to maintain some of the momentum after falling off its highs. However, since the start of this year, the CRV token has seen steep declines. It started the year at $6.2061 and fell to $2.3958 in the first month.
After falling from the $2 level, it hits a new low in the second month. During March and April, the price of the token slowly continued to rise, fluctuating between $2.78 and $1.95. But, things started to change in June when the token saw a continuous fall and reached a low of $0.54047.
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However, CRV is showing signs of positivity this month and moving forward with their comeback. It has rebounded from its June low and is currently trading at $1.47, up a significant 40.0% over the past 14 days.
The expected introduction of Curve stablecoin is the main factor behind today’s positive price activity. Michael Egorov, the founder of Curve, acknowledged the beginnings of an over-collateralized stablecoin during a Web3 event.
Featured image from Flickr, chart from Tradingview.com