Crypto Market On The Mend: ApeCoin And Curve DAO Show Gains
Several altcoins are gaining attention as the cryptocurrency market is on the mend, including ApeCoin (APE) and Curve DAO (CRV), which have increased by 17% and 24% over the previous 24 hours, respectively. People are becoming more optimistic as a result of these improvements.
ApeCoin (APE) is ranked number thirty-three in the top 100 coins. It is an ERC-20 token generated for governance and utility. The decentralized autonomous organization ApeCoin DAO developed and debuted the coin and is based on the Ethereum blockchain network.
Related Reading | TA: Ethereum Eyes Fresh Surge, Why ETH Could Surpass $1,700
APE has climbed dramatically from its June low of $3.1189. According to data from CoinGecko, the price of ApeCoin today is $6.7739, up 17% from the previous day and 43% from the last week. Its current market cap is $2.08 billion, with a significant rise of 16% during the last 24 hours.
APE is linked to the well-known Bored Ape Yacht Club. Yuga Labs developed the Bored Ape Yacht Club, a 10,000-strong non-fungible tokens (NFTs) with an ape theme with various aspects and distinctive qualities, such as digital art, image, music, and video files that have been tokenized and protected using blockchain technology.
Its price increased after Yuga Labs gave a select group of gamers a sneak peek into its Otherside metaverse. Therefore, this might be one of the key causes that contributed to the APE price increase.
As per the announcement, the 4,300 players, referred to as “Voyagers,” were welcomed to the immersive, ape avatar-navigated internet platform on Saturday for a first-look tech presentation and tour.
Curve DAO is currently trading at $1.52 on the daily chart | Source: CRVUSDT From Tradingview
Curve DAO (CRV) Is Steadily Struggling To Recoup Its Value
Due to the market meltdown this year, other coins are struggling to recover, and CRV is also on the path to recovery with them. Curve DAO is a native token for Curve Finance, one of the world’s largest decentralized finance (DeFi) systems.
Since its introduction, Curve DAO has attempted to sustain some of the momenta after falling from its highs. However, from the start of this year, the CRV token has experienced sharp declines. It started the year at $6.2061 and dropped to $2.3958 in the first month.
After falling from the $2 level, it reaches a new low in the second month. In March and April, the token’s price slowly kept increasing, fluctuating between $2.78 and $1.95. But, things started to change in June when the token experienced a continuous slide and hit a low of $0.54047.
Related Reading | Solana Zoomed Up By 20% In A Week, This Could Be The Next Target
However, CRV is showing signs of positivity this month and is moving forward with its comeback. It has rebounded from its June low and is presently trading at $1.47, up significantly over the last 14 days by 40.0%.
The anticipated introduction of Curve stablecoin is the main factor behind today’s positive price activity. Michael Egorov, the founder of Curve, acknowledged the debut of an over-collateralized stablecoin during a web3 event.
Featured image from Flickr, chart from Tradingview.com