Ape Coin Hits New All Time High
$APE hit an all time high on 4/28 as whales and holders bid up the price in anticipation of Otherside land auction. The land sale is part of an effort between BAYC, Yuga Labs, and Animoca Brands. The land sale will be held as an auction to only KYC wallets for 100K parcels.
As expected, the price of $APE hit an all time high in order for the KYC wallets to have enough funds for the auction. It took a large dip from the high of the day probably after announcing that only 2 parcels are going to be allowed per KYC wallet.
We see this pattern a lot in Crypto Coins and NFTs. Large events, lots of hype, and a need for the currency will drive prices up to new highs followed by a rapid decline. Often a second lower high will be hit shortly after the first dip.
Watch for those patterns and understand them before you buy into hype.
The auction is set to begin today.
About $APE
Culture has found new expression in web3 through art, gaming, entertainment, and events. The possibilities for blockchain’s impact on culture are so endless that they can’t possibly all be predicted yet. APE is a token made to support what’s next, controlled and built on by the community. It will serve as a decentralized protocol layer for community-led initiatives that drive culture forward into the metaverse.
RESOURCES: Whitepaper : Official website
