ApeCoin has surpassed Tether (USDT) and Loopring (LRC) as the third most purchased cryptocurrency after Ethereum (ETH) and USDC by the top-100 Ethereum wallet addresses.
APE is the native asset of the ApeCoin ecosystem. APE reached an all-time high of $39.40 on March 17, 2022, thanks to FOMO and the recovery of the crypto market.
APE has seen an average of $2.07 billion in daily trading volume in May buoyed by the launch of the Otherside metaverse. This is a signal of consistent investor interest in the cryptocurrency.
According to be[In]Crypto research, APE became the third most purchased digital asset with an average purchase amount of $157,609 and an average APE quantity of 12,721.
Aside from APE, other digital assets such as Tether (USDT), Chiliz (CHZ), Fantom (FTM), Yearn Finance (YFI), and Loopring (LRC) are among the most purchased cryptocurrencies by the top-100 wallet addresses.
APE builds on the ecosystem built around Yuga Labs’ Bored Ape Yacht Club NFT Collection. At the time of publication, BAYC is the third largest digital collectible by sales volume.
BAYC’s popularity and ApeCoin’s use as an eligibility requirement in receiving free airdropped land deeds during the Otherside metaverse launch have contributed to the increasing demand for the cryptocurrency.
What’s new on ApeCoin?
The Bored Ape Yacht Club and Mutant Ape Yacht Club (MAYC) communities are part of the APE ecosystem. These digital collectibles play a vital role in an airdrop event that will see 150 million APE given to NFT holders.
BAYC holders are eligible to claim up to 10,094 APE while MAYC holders are eligible to claim up to 2,042 APE.
APE winners from this event have up to 90 days to claim their coins or the unclaimed coins will be sent to the ApeCoin Ecosystem Fund. The ApeCoin airdrop started in March and will end on June 15, 2022.