Why ApeCoin Is Rising Today
As of 1:11 p.m. ET, the price of ApeCoin (CRYPTO: APE) traded roughly 9% higher over the last 24 hours, as it looks to be bouncing back from some more bearish news that occurred earlier this weekend.
ApeCoin is an ERC-20 token, which means it lives on top of Ethereum's network and follows a certain set of standards.
ApeCoin is connected to the popular non-fungible token (NFT) collection Bored Ape Yacht Club, which launched in 2021 and is comprised of various APE NFTs, each of which has an outfit and facial expression specific to them. In 2021, some of these NFTs were purchased by celebrities for hundreds of thousands of dollars.
Source Fool.com
