ApeCoin's Price Is Rising Following Gucci Announcement

ApeCoin's Price Is Rising Following Gucci Announcement

ApeCoin, the native utility token for Yuga Labs' Bored Ape Yacht Club (BAYC) ecosystem, is up more than 10 percent in the last four hours following the Gucci's announcement that it will now accept APE at its U.S. stores.

The collaboration between Gucci and ApeCoin will be facilitated by U.S.-based cryptocurrency payment service provider BitPay.

Earlier today, APE reached $6.30, only slightly higher than its lowest price point in a week. But now, after the Gucci news, APE is pushing $7. 

This is far from APE's one-year high of $39.40, but it is a sign of life in an otherwise down cryptocurrency market the last few weeks.

Ethereum, for comparison, is up 2.57 percent in the last hour, and Bitcoin is up nearly 1 percent in the same time span.

To learn more about ApeCoin, see Lucky Trader's guide here. And to learn about how to enter the Yuga Labs ecosystem, see Lucky Trader's introduction article here.

More about Bored Ape Yacht Club

Arguably the most successful NFT project, the Bored Ape Yacht Club (BAYC), is a collection of 10,000 uniquely generated bored apes that are stored on the Ethereum blockchain. Launched on April 23, Bored Ape Yacht Club had a mint price of 0.08 ETH and the collection sold out on April 30, 2021. Since its launch, the project has dropped multiple companion collections including Bored Ape Kennel Club, Mutant Ape Yacht Club, and Otherdeed for Otherside, and has helped onboard a number of high profile and celebrity collectors to the NFT ecosystem.

At the time of publish, the Bored Ape Yacht Club floor price sits at 66.968 ETH, and has stayed relatively flat over the past 24 hours on 1676 ETH volume of transactions. Over the last 30 days, 27 sharp wallets have sold 30 NFTs and 29 sharp wallets have bought 29 NFTs in the Bored Ape Yacht Club collection. Catch up on other recent Bored Ape Yacht Club news here.

Recent Bored Ape Yacht Club Sales

#441sold at 12/09 9:12pm for
#5139sold at 12/09 8:12pm for
#6206sold at 12/09 4:12pm for
#9953sold at 12/09 2:12pm for
#9953sold at 12/09 10:12am for

Recent Bored Ape Yacht Club Listings

#8477listed at 12/09 11:12pm for
#7693listed at 12/09 11:12pm for
#7693listed at 12/09 11:12pm for
#9507listed at 12/09 11:12pm for
#9507listed at 12/09 11:12pm for
Disclaimer: The author or members of the Lucky Trader staff may own NFTs discussed in this post. Furthermore, the information contained on this website or the Lucky Trader mobile application is not intended as, and shall not be understood or construed as financial advice.
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