Tuesday, December 6, 2022

BAYC ApeCoin Surges As Community Mulls DAO Proposals

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BAYC ApeCoin surges as community mulls DAO proposals over the past 24 hours we can see more today in our latest altcoin news today.

Apecoin is surging today and it is up by 7% in the past day according to CoinMarketCap. The BAYC ApeCoin surges and hits a price of $27 and since then, the token shed some of those gains and is trading at just under $22. The cryptocurrency fuels Apecoin DAO and the unofficial decentralized autonomous organization related to the Bored Ape Yacht Club NFT collection. The weekly chart painted a similar pattern and since last week, ApeCoin increased a whopping 67%. The token is still far off from the AHT of $39.40.

Because ApeCoin is a governance token, the holders can make and can vote on different proposals in the ApeDAO. If you want to take part in the Ape Community you could need to hold on to some tokens. Judging by the timing of the ApeCoin latest price surge and the few pending proposals, some investors scooped up some more voting power. There are three Ape Improvement proposals that will close on May 4. the AIP 21 and 22 propose continued modifications for staking the Apecoin token and staking is only the process of depositing crypto into the smart contract and earning additional rewards for doing so.

BAYC Celebrates, nft, anniversary, bored ape
Bored Apes

API-7 is less technical and proposed a change to how the discussion is formalized in the DAO. These three active proposals and AIPs are also under discussion and all proposals can be found on the DAO voting platform Snapshot.

As recently reported, Among the top 100 coins, Secret gained on the news of the upcoming privacy-focused productivity suite and Apecoin became the biggest metaverse token after surging 7% to trade at $19.10 and pushed to seven-day gains of over 22%. This comes a week after BAYC creator Yuga Labs announced it will be launching an Otherside metaverse and since then, Apecoin as the standard currency required in Otherside, became the biggest token by market cap in the metaverse, surging ahead of SAND, AXS, and MaNA. The only other token in the top 100 saw a similar surge which was Secret and up by 10% over the past day. SCRT is the native token for the privacy-focused Secret NEtwork which was built on the Cosmos/Tendermint framework.

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