Why APE’s Performance is Lackluster Compared To Other Altcoins
2022.07.15 02:16
Why APE’s Performance is Lackluster Compared To Other Altcoins
- ApeCoin (APE) has been steadily declining since the June crash dropping as low as $3.06.
- The NFT market is one of the advantages for ApeCoin, but at the moment, the NFT market is exhibiting a rather disappointing performance.
- If the situation on these fronts do not improve, APE will continue on its current path.
The native token of the Bored Ape Yacht Club (BAYC) collection, ApeCoin (APE) has been steadily declining since the June crash dropping as low as $3.06.
Although APE is currently trading at 6.5% above opening price, it is still disappointing compared to what other altcoins are currently doing. Contributing to this is the fact that the BAYC NFT collection price has dropped almost 81% from its all-time high of $23.7.
The NFT market is one of the advantages for ApeCoin, but at the moment, the NFT market is exhibiting a rather disappointing performance. After hitting $42.5 million in sales in May, BAYC NFTs have not been generating any significant volume for about two months now. Over this time period, the average volume for …
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