ApeCoin and Curve DAO show gains
Several altcoins are gaining attention as the cryptocurrency market recovers, including ApeCoin (APE) and Curve DAO (CRV), which are up 17% and 24% respectively in the last 24 hours. People become more optimistic as a result of these improvements.
ApeCoin (APE) is ranked number thirty-three among the top 100 coins. It is an ERC-20 token generated for governance and utility. The decentralized autonomous organization ApeCoin DAO developed and debuted the coin and is based on the Ethereum blockchain network.
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APE has risen dramatically from its June low of $3.1189. According to data from CoinGecko, the price of ApeCoin today is $6.7739, up 17% from the previous day and 43% from last week. Its current market cap is $2.08 billion, with a significant increase of 16% in the last 24 hours.
APE is linked to the well-known Bored Ape Yacht Club. Yuga Labs developed Bored Ape Yacht Club, a 10,000 strong non-fungible token (NFT) with a monkey theme with various aspects and distinctive qualities, such as digital art, image, music and video files that have been tokenized and protected using blockchain technology.
The price increased after Yuga Labs gave a select group of players a sneak peek into the Otherside metaverse. Therefore, this may be one of the main reasons that contributed to the APE price increase.
According to announcementthe 4,300 players, referred to as “Voyagers,” were welcomed to the immersive, monkey-avatar-navigated Internet platform on Saturday for a technical presentation and tour.
Curve DAO (CRV) is still struggling to recoup its value
Due to the meltdown in the market 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 world’s largest decentralized finance (DeFi) systems.
Since its introduction, Curve DAO has been trying to maintain some of its momentum after falling from its heights. However, since the beginning of this year, the CRV token has experienced sharp declines. It started the year at $6.2061 and fell to $2.3958 in the first month.
After falling from the $2 level, it reaches a new low in the second month. In March and April, the token’s price continued to slowly increase, fluctuating between $2.78 and $1.95. But things started to change in June when the token experienced a continuous slide and reached a low of $0.54047.
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However, CRV is showing signs of positivity this month and is moving forward with its comeback. It has bounced back from the June lows and is currently trading at $1.47, a significant gain over the past 14 days of 40.0%.
The expected introduction of the Curve stablecoin is the main factor behind today’s positive price activity. Michael Egorov, the founder of Curve, acknowledged the debut of an over-collateralized stablecoin during a web3 event.
Featured image from Flickr, chart from Tradingview.com
