In brief
Several gaming and metaverse tokens have posted double-digit declines today.
ApeCoin (APE) and STEPN (GMT) have seen sizable losses today, each falling at least 15%
It’s a bright red day across much of the crypto market as Bitcoin and Ethereum losses have sent shockwaves throughout the ecosystem. And it’s gaming and metaverse tokens that are among the biggest bleeders over the last 24 hours, including ApeCoin (APE) and STEPN (GMT).
ApeCoin, the Ethereum-based token of the Bored Ape Yacht Club ecosystem, has dropped more than 15% over the last day per data from CoinMarketCap, with a total weekly plunge of 23%. APE, which will power the upcoming Otherside metaverse game, has been especially volatile since its March launch.
Meanwhile, the price of Solana-based move-to-earn game STEPN’s GMT governance token has fallen 16% over the past 24 hours, with roughly the same decline this past week. Even news of a partnership with Spanish soccer club Atlético de Madrid couldn’t keep...
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