Why ApeCoin Is Volatile Today
Over the last 24 hours, the cryptocurrency ApeCoin (CRYPTO: APE) has been extremely volatile, at one point rising nearly 16% but now trading more than 11% down as of 10:28 p.m. ET today.
It has also been an incredibly volatile week, with ApeCoin, which currently trades at $15.38, having risen to $26.81 last Thursday. The volatility seems to be related to a metaverse land sale the token was involved in.
ApeCoin is a relatively new cryptocurrency that dropped in March and has ties to the popular non-fungible token (NFT) collection called the Bored Ape Yacht Club, which is a series of NFTs depicting different apes with different wardrobes and facial expressions. These NFTs are quite popular and have been purchased for large sums of money by a number of celebrities and high net worth individuals.
Source Fool.com
