ApeCoin hits all-time low as Bored Ape Yacht Club NFTs face renewed pressure

08/02 00:10

ApeCoin, the Ethereum-based token powering Yuga Labs' Otherside metaverse game, hit an all-time low as the Bored Ape Yacht Club NFT collection faced renewed pressure. ApeCoin is linked to the valuable Bored Ape profile pictures and fell to $1.77 before rebounding to $1.84. The market for PFPs is faltering, causing assets associated with Yuga Labs' smash hit to fall back to earth. Despite the decline, ApeCoin is still ranked #65 among all other tokens in terms of market capitalization, with a total value of $675 million.

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