Metaverse is a new type of digital reality that combines social networking, blockchain technology, augmented reality, and Cryptocurrency. Cryptocurrency can be a confusing subject. Many believe that the industry is unreliable and consider investing a gamble. Still, this fast-growing industry uses large sums of money. Significant investments can bring big profits. 2018 was a banner for almost all important cryptocurrencies and their supporters.
Among the significant cryptocurrencies, ApeCoin is making substantial progress in meta-conversion. ApeCoin rose 7% to $19.10; The seven-day profit increased by almost 22%. It happened in less than a week after Yuga Labs announced the opening of the Metaverse of Others on Saturday.
Since then, the APE has surpassed the Decentraland MANA, The Sandbox’s SAND, and the Axie Infinity AXS. Consequently, it has become the largest meta-sign by market valuation. This is an important step forward for the BAYC NFT collection due to recent controversies over legal matters. The BAYC collection is one of the most famous collections in history. The NFT market, according to OpenSea, is 10000 Bored Ape NFT.
The current price of the Bored Ape collection is 138ETH. It means you have to be extremely capable to have it. APE works well compared to the rest of the cryptocurrency market; it Exceeds most of CoinMarketCap’s Top 100 Coins.
Metaverse and ApeCoin
As of Thursday, APE was the 28th largest Cryptocurrency with approximately $5.5 billion market capitalization. Apparently, due to the market reaction to crypto and technology stocks, A week of declining market reaction to a very awkward US Federal Reserve, ApeCoin has shown its resilience and has grown by more than 30% in the last seven days against a background of $14.2 billion. The volume of the transaction represents approximately 800 million APE.
It is predicted that the value of ApeCoin will increase. If the APE succeeds in both the meta-version and the NFT economy, Cryptocurrency could reach $30 in the first quarter of 2030. Meanwhile, the vast market for cryptocurrencies was stagnant. At $1.78 trillion, global market capitalization fell 2% the day before. Bitcoin, the market leader, fell about 2% to $38,762.82. Ethereum, the second-largest Cryptocurrency by market capitalization, fell to $2,852.03, or 2% overall.