Is ApeCoin the Next Cryptocurrency to Explode On APE Staking Launch

cryptonews.com:

ApeCoin appears set to pump in the coming days and weeks ahead of staking for APE going live.

The coin has made steady gains in the last seven days, up 15% on the week and 7% in the last 24 hours, with more growth expected after Horizen Labs announced they would hold a Twitter Spaces on the subject on September 22.

It remains unclear when exactly staking will go live, with some holders expressing annoyance and disappointment on social media that it hasn't happened yet.

However, the general sentiment on APE is now bullish and the market could see more growth both pre- and post-staking going live, with investors rushing to buy up the coin and then take it off the market. 

The Bored Ape Yacht Club (often referred to as BAYC) is one of the premier NFT collections in crypto.

Despite billions being drained from the NFT market and many collections in the red, the cheapest BAYC is still on sale for 72 ETH (approx. $125,000) and during the NFT bull run last summer, multiple Bored Apes sold for tens of millions of dollars.

The collection has a number of celebrity backers, with Eminem, Snoop Dogg, Madonna, Jimmy Fallon and many others.

The BAYC universe also includes other collections - the Mutant Ape Yacht Club and Bored Ape Kennel Club - which are secondary collections and go for significantly less but are still highly sought after.

ApeCoin is an ERC20 token that acts as that the governance token within the APE Ecosystem and the ApeCoin Decentralized Autonomous Organization (DAO), it is a community-driven initiative allowing holders to vote on ideas, projects and other tasks within the ecosystem.

It also allows holders exclusive access to other things such as merchandise, events, premium games and services and we named it among our top 10