The Price Of NFT Bored Ape Yacht Club Falls, Makes Apecoin Drop

NFT Bored Ape Yacht Club. (Photo; Doc. MarginATM)

JAKARTA - The base price or floor price of NFT Bored Ape Yacht Club (BAYC) fell to its lowest level in 20 months, reaching 30 ETH or about US$58,000 (Rp874 million). This decline had an impact on ApeCoin (APE), a cryptocurrency associated with Yuga Labs' Bored Ape NFT collection. ApeCoin has experienced a 15 percent drop in the last two weeks, hitting a new all-time low of US$1.85 (equivalent to Rp27,900) on Friday.

Although the base price of NFT Bored Ape is starting to gradually recover, ApeCoin is nearing its new low on Monday. Since the peak of the NFT market in March 2022, the price of ApeCoin has corrected more than 93 percent. At that time, APE prices reached an all-time high of 26.70 US dollars (Rp402,769) with a market capitalization of nearly 7.6 billion US dollars (Rp114 trillion).

ApeCoin merupakan mata uang uang utama dalam dunia virtual Yuga Labs yang disebut Otherside. Token ini dikenalkan oleh ApeCoin DAO, sebuah organisasi berbasis komunitas yang memberikan pemegang Bored Ape dan pemilik NFT dari koleksi Mutant Ape Yacht Club kesempatan untuk memiliki suara dalam proyek dan aturan.

APE Foundation is responsible for managing DAO tokens and operating surveillance. Recently, the foundation announced the appointment of a new special advisor, replacing the chair left by Animoca Chairman Brands Yat Siu and Reddit co-founder Alexis Ohanian.

Although ApeCoin's price is currently at its lowest point, its market cap is around US$700 million (Rp10.5 trillion), which is comparable to other metaverse projects such as The Sandbox's SAND of around US$769 million (Rp11.6 trillion) and Decentraland's MANA in the range of US$699 million (Rp10.5 trillion). However, it seems that the crypto community will continue to monitor the development of ApeCoin prices and current NFT market trends.