ApeCoin

Turtle-themed Speedy, Bored Ape’s ApeCoin spike over 100%

Published

4 hours ago

October 20, 2024

Meme coins Speedy and ApeCoin have both seen their prices pump by over 100% in the last 24 hours.

According to current market data, Speedy (SPEEDY) — a meme coin launched on the Fantom blockchain by The GOAT Foundation — was among the top gainers on CoinGecko as of Sunday afternoon.

The team behind Speedy, which includes experts in blockchain technology like Gonzales Spidorius serving as the CIO, saw the token spike over 150%. The coin’s all-time high hovers at around $0.03346; its all-time low was on Oct. 20, at $0.0007253.

See the chart below.

Turtle-themed Speedy, Bored Ape's ApeCoin spike over 100% - 1 — Chart from CoinGecko

ApeCoin (APE), meanwhile, enjoyed a 105.0% increase.

Per their data, APE was trading in a 24-hour range of $0.7393 to $1.66. A closer look at the price in the last seven days shows that the coin has surged from a low of $0.6981 to $1.57.

Turtle-themed Speedy, Bored Ape's ApeCoin spike over 100% - 2 — Chart from CoinGecko

What triggered the surge?

While the sudden surge in Speedy could not be confirmed, Ben Crypto — a crypto observer with over 30,000 subscribers on YouTube took a closer look.

Yes, turtles move slow, but this coin is fast. It ain’t slowing down anytime soon… for full two weeks, this coin was below $1 million market cap. Then, in the next few days, it quickly rose to about $10 million, pulled back slightly then in the last two days, it has gone parabolic.”

See below.

If you invested $1,000 during this period, it would be $30,000 right now, Ben Crypto explained. If you invested $3,000, it would be just around $100,000.

Always look for coins with $1 million market caps that have been trading for at least a week, he advises. Why? There’s minimal downside risk of a rug pull and the risk-reward ratio is high, he argues.

As for ApeCoin, the primary reason for the bullish momentum appears to be the launch of ApeChain, a new Layer-3 blockchain.

The ApeCoin X account made an official announcement regarding this development. “Bridges are live. Bring your tokens to ApeChain now to start earning native yield on APE, ETH, and various stablecoins,” ApeCoin stated.

The newly launched ApeChain offers several key features that have contributed to the positive market sentiment.

Now that the bridge has been launched, token holders can now move their tokens to ApeChain, Ethereum (ETH) and the Arbitrum (ARB) chain.

Their team announced that holding ApeCoin on ApeChain puts their APE in automatic yield mode, letting users earn yields on APE, ETH, and other stablecoins.

The ApeCoin team also announced on X that memes on ApeChain are up by over 12,000%.

The APE coin has been on a downward trend in the second half of 2024. The coin had touched an all time low of $0.482 in August 2024. However, the coin has surged by over 215% since that low.

The recent ApeChain launch has also pushed the price up above $1.5. However, it should be seen whether APE can sustain the $1.50 level.

ApeCoin is the native cryptocurrency of the Bored Ape Yacht Club non-fungible token collection. It was launched in March 2022 by Yuga Labs and is governed by the ApeCoin DAO, which allows holders of the coin to vote on the direction of the ecosystem.

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ApeCoin

ApeCoin DAO votes to open APE-themed hotel in Bangkok

Published

3 months ago

July 22, 2024

admin

Earlier this week, the ApeCoin decentralized autonomous organization initiated a proposal to launch an APE-themed hotel in central Bangkok.

More than 91% of the votes are for the proposal, signaling strong support for the hotel’s opening.

ApeCoin DAO votes to open APE-themed hotel in Bangkok - 1 — Screenshot of AIP-448 proposal | Source: ApeCoin DAO

Voting for the ApeCoin (APE) hotel, initially named AIP-448, started on July 18.

At press time, 4.6 million APE had voted “yes,” while 411 thousand APE had voted against the launch. The naysayers represent 8.16% of the total votes cast.

AIP-448 will reportedly merge intellectual property applications, the hospitality sector, the arts, and cryptocurrency. The proposed hotel reportedly plans to offer a diverse range of ApeCoin-themed attractions and amenities.

The establishment could feature ApeCoin-centric exhibitions, an APE-themed bar, and a variety of rooms decorated to represent different APE communities.

Additionally, it could include an APE-branded swimming pool and a dedicated area for exhibitions.

ApeCoin Hotel seeks 410,000 APE from the ApeCoin ecosystem fund to see the proposal through, and voting concludes on July 31.

ApeCoin hotel benefits

According to the DAO, the ApeCoin Hotel aims to promote ApeCoin, ApeChain, and various APE communities comprehensively. The DAO stated that the venture intends to provide numerous benefits to members of the APE community.

The DAO proposed that 50% of the revenue generated from themed rooms be directed to the ApeCoin DAO treasury for one year. Secondly, the hotel could accept ApeCoin as a payment method, which proponents claim would demonstrate the cryptocurrency’s real-world utility and potentially boost its circulation.

The hotel project also plans to incorporate various community-centric initiatives. These may include offering 50 complimentary nights of accommodation to APE holders and providing free access to certain hotel facilities for community members.

Moreover, the proposal has outlined a unique check-in process for ApeCoin holders at a themed hotel. Guests would reportedly need to verify their ApeCoin Forum membership and wallet balance at the front desk.

Guests are encouraged to share their experiences on X. Those seeking free stays would be required to post about their visit, including photos and positive feedback, to receive cashback.

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