ApeCoin Price Grows Amid New Proposals

by in Cryptocurrency News

ApeCoin DAO

The price of the APE token increased by over 52% in the last 7 days. Currently, the token trades at around $21 with a market cap of over $6 billion. This makes APE the largest metaverse token as it has got ahead of MANA, SAND, GMT, and others.

Related: Bored Ape Yacht Club Announced the Launch of ApeCoin

ApeCoin was launched on March 18 by the blockchain technology company Yuga Labs which stands behind the development of the NFT collection Bored Ape Yacht Club. APE is the governance and utility token of the BAYC ecosystem. BAYC presents 10,000 unique bored ape artworks.

APE token holders participate in governance decisions through ApeCoin DAO (decentralized autonomous organization).

Recently, ApeCoin tweeted that the community has been actively proposing new ideas in the form of APE Improvement Proposals (AIPs) to guide the direction of the DAO.