In brief
ApeCoin, the Ethereum token of the Bored Ape Yacht Club ecosystem, has fallen 65% in value over the past 30 days.
The token has lost significantly more value than other gaming-related tokens during the ongoing crypto market crash.
The March launch of ApeCoin—an Ethereum token for the Yuga Labs’ burgeoning Bored Ape Yacht Club ecosystem—caused a frenzy in the NFT and crypto markets. But with those markets now in turmoil, ApeCoin is tumbling much faster than other gaming and metaverse-related tokens.
Overnight, per data from CoinGecko, ApeCoin (APE) set a new all-time low of $3.10 per token. As of this writing, the price has rebounded slightly to $3.24, but has still seen an 11% drop over the past 24 hours.
The wider cryptocurrency market is down nearly 6% today, and other metaverse and gaming tokens have similarly taken hits—but not to the same degree as ApeCoin. The Sandbox’s SAND token has dropped 7% to $0.83, while the GMT token for “move-to-earn” game Stepn has dropped...
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