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The ApeCoin Community has voted on a proposal that suggested the creation of a new NFT series, rejecting the idea. ApeCoin Armory Club and Ape Coin Pet Club were the two NFT collections.



The ApeCoin DAO has rejected a proposal that would have introduced two new NFT collections. The two collections are Ape Coin Armory Club and Ape Coin Pet Club, which were designed to have 20,000 NFTs each. 83.95% of the voters rejected the proposal, with 10.01% of the community in favor of it. The NFTs would have been handed out to the crypto community for free, with the overall cost estimated at $168,000.



ApeCoin Community Voting Against New NFT Collections: Snapshot



The multi-link nature of the NFT collections meant that it could have been linked to other NFT and metaverse projects, like Otherside, Decentraland, and The Sandbox. One such possibility, which the proposal hints at, is that the NFTs could have appeared in the 3D worlds of other metaverse projects.



Images from Ape Coin Pet Club: AIP-206



The full proposal showcased images of the NFTs, with the ape logo appearing on a shield. There were also images of the pets that would have formed the Ape Coin Pet Club. The proposal claims that all of the NFTs from both collections “are unique in their own way some with more rare features.”



ApeCoin Team’s Otherside Second Trip Looked Like a Hit



Meanwhile, Yuga Labs, the company behind the Bored Ape Yacht Club, recently announced the Otherside Second Trip event captains. These captains are Jimmy Wong, Brycent, Lowbellie, and Cordell Broadus, and they led four separate teams.




Thanks to every one of the 7,200+ concurrent Voyagers who joined us for 2nd Trip, anyone who watched along on our official live stream, and @jfwong, @brycent_, @champmedici, and @lowbellie for leading their teams through the Trip. We hope you enjoyed your time in Otherside. pic.twitter.com/BOfKhnGPPg— Othersidemeta (@OthersideMeta) March 25, 2023




Second Trip is a virtual event where 10,000 hodlers of its Otherdeeds NFTs will test the Otherside metaverse experience. The event seemed to have been successful, with over 7,200 concurrent players at one point.



Yuga Labs’ Bitcoin NFTs a Success



NFTs still seem to have a strong pull on investors, with Bitcoin NFTs especially taking off. Yuga Labs recently auctioned its first Bitcoin-based NFT collection, raking in $16.5 million in just 24 hours. The highest bidder paid over 7 BTC for one of the assets in the Bitcoin Ordinal collection called TwelveFold.



NFTs are also growing in the mainstream world, with Amazon potentially releasing its own NFTs. Amazon Web Services has hinted at its foray into the space by announcing a collaboration with Ava Labs.
The post ApeCoin Community Rejects Proposal for Two New NFT Collection Series appeared first on BeInCrypto.


The ApeCoin DAO rejected a proposal for two new 20,000 NFT collections — Ape Coin Armory Club and Ape Coin Pet Club.
The post ApeCoin Community Rejects Proposal for Two New NFT Collection Series appeared first on BeInCrypto.


beincrypto.com

ApeCoin Community Rejects Proposal for Two New NFT Collection Series

The Bored Ape Yacht Club NFT collection has been the target of an exploit this January 20th. FranklinIsbored, one of the biggest holders of BAYC NFTs, is targeted with an exploit of OpenSea’s stolen ApeCoin policy which allowed the attacker to sell a marked Bored Ape. 
This Bored Ape was marked  as “under review for suspicious activity” which supposedly locks the NFT from being sold. Franklin has been the target of this exploit for the second time this week with the first one being January 20. 

Hey @opensea can you PLEASE fix your stolen ape policy? This ape with a yellow caution mark sold to my OpenSea WETH offer for 65 WETH. You collected 1.625 WETH in fees, and I cannot resell this ape. It was already marked before the sale happened. You have failed with this policy. pic.twitter.com/jGO9sClKbi
— Franklin (@franklinisbored) January 20, 2023
Since then, ApeCoin, the native token of the Bored Ape Yacht Club ecosystem, has fallen 1.3% in value in the past 24 hours. APE is currently trading at $5.80, up 16.6% in the last seven days, data from Coingecko show. 

The Gist Of The Situation
The two exploits happened within three days of each other. According to Franklin’s tweets, the flagged apes can’t be sold since they are subjected for review. These stolen assets shouldn’t have been sold in the open market according to OpenSea’s stolen item policy. 
The exploit works as the attacker uses OpenSea’s “Match Advance Order” system to “Mint” and sell it to Franklin. According to recent news, the total amount of Bored Ape and Mutant Ape NFTs being stolen has now reached nearly $20 million. 

It happened again – second time in a week someone has exploited OpenSea’s stolen ape policy to sell to my collection offer after it was already marked as “under review for suspicious activity” (yellow mark). They used a “Match Advanced Order” function to “Mint” and sell to me. pic.twitter.com/21hijgtUse
— Franklin (@franklinisbored) January 22, 2023
OpenSea has not been transparent with the amount of stolen NFTs on the platform. Beetle, a self-described on-chain sleuth, has recently released charts of the platform’s number of stolen NFTs. In total, 1,278 NFTs have fallen in the hands of cyber-thieves within the platform.
The NFT marketplace has not responded since the news hit the market. 


ApeCoin Still Showing Potential
Even with the negative news surrounding BAYC, the token is still poised to see gains in the coming days. At the time of writing, the charts show that ApeCoin bulls are able to break through the $5.867 resistance. 
For the bullish momentum to continue, the token should close today above its current resistance which would give the bulls a chance to move upwards. However, if the resistance holds, a retest of the $5.063 support could occur in the coming days. 




The token also has a strong correlation with Bitcoin which is retesting the $23,000 resistance. If Bitcoin closes above this crucial $23k resistance, ApeCoin will have the boost needed to grab its September 2022 price levels. 
For now, investors and traders should focus on breaking through ApeCoin current resistance as a breakthrough on this level would mean more gains in the medium and long term. 
-Featured image from African Wildlife Foundation


The Bored Ape Yacht Club NFT collection has been the target of an exploit this January 20th. FranklinIsbored, one of the biggest holders of BAYC NFTs, is targeted with an exploit of OpenSea’s stolen ApeCoin policy which allowed the attacker to sell a marked Bored Ape.  This Bored Ape was marked  ...

newsbtc.com

ApeCoin Buckles As Recent News Of Stolen BAYC Hits The Market 

Crypto analytics firm Santiment warns that the native token of the Bored Ape Yacht Club non-fungible token (NFT) ecosystem, ApeCoin (APE), stands a high chance of retracing after a modest rally.
Santiment says that ApeCoin’s market-value-to-realized-value (MVRV) ratio sits at 15.981%, suggesting that it is relatively overvalued.

According to the crypto analytics platform, the MVRV ratio of decentralized virtual worlds Decentraland (MANA) and The Sandbox (SAND) is -59.77% and -33.31%, respectively, suggesting that they are “still undervalued.”
“While altcoins are resetting a bit after the hot start in 2023, you can reallocate your portfolio based on which assets still show traders are under water. While APE’s 1-year MVRV is at +16%, MANA (-60%) and SAND (-33%) may be more appealing for now.”
Source: Santiment
MVRV, which is the ratio of a crypto asset’s total market cap relative to its realized capitalization, is used to determine whether that asset’s price is below or above the fair value.
The higher the ratio, the more likely a crypto asset will come under selling pressure as holders take profits. An MVRV ratio in the negative territory indicates a lower risk of the crypto asset coming under selling pressure.
Since the start of the year, ApeCoin went up by about 52% from a low of $3.62 to a 2023 high of $5.49. Apecoin is trading at $4.54 at time of writing.
Decentraland and The Sandbox have gone up by 151% and 96% from their 2023 lows to 2023 highs, respectively. Decentraland is trading at $0.639 at time of writing while The Sandbox is changing hands at $0.696.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney
The post Analytics Firm Names Two ‘Still Undervalued’ Crypto Assets, Warns One Explosive Altcoin Facing High Risk of Pullback appeared first on The Daily Hodl.


Crypto analytics firm Santiment warns that the native token of the Bored Ape Yacht Club non-fungible token (NFT) ecosystem, ApeCoin (APE), stands a high chance of retracing after a modest rally. Santiment says that ApeCoin’s market-value-to-realized-value (MVRV) ratio sits at 15.981%, suggesting ...

dailyhodl.com

Analytics Firm Names Two ‘Still Undervalued’ Crypto Assets, Warns One Explosive Altcoin Facing High Risk of Pullback

Investors and traders of ApeCoin (APE) have been seeing some big gains since the start of 2023. With the crypto market experiencing a surge in prices, ApeCoin has been riding the bullish wave upwards showing gains on almost all timeframes. 
ApeCoin is riding the bullish momentum, while Yuga Labs’ Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) remain some of the dominant collections available on the NFT market. 
According to DappRadar, the two collections are first and second in terms of trade volume in the past month. However, with the recent Yuga Labs situation, will APE remain profitable to investors? 
Yuga Labs Lawsuit And How It May Affect ApeCoin
Recent information about the lawsuit filed against Yuga Labs can affect APE’s ability to continue its bullishness. 
According to news, a federal judge ruled that Greg Solano and Wylie Aronow, the co-founders of Yuga Labs which created BAYC and MAYC, must face deposition in the most recent escalation between the company and Ryder Ripps who launched a counterclaim along with co-defendant Jeremy Cahen. 

The saga started back in June of 2022 when Yuga Labs filed a lawsuit against the artist, claiming that Ripps was scamming buyers of BAYC with supposed intentions of harming the company. Ryder has been a vocal critic of the Yuga Labs and BAYC, going as far as calling the community a brainwashed cult.

“bayc is not a brainwashed cult”
bayc: pic.twitter.com/zp0X9BL2SF
— RYDER RIPPS  (@ryder_ripps) June 17, 2022
One of the counterclaims was the alleged Neo-Nazi origins, an accusation that was denied by Yuga in June last year. However, Ripps and Co. will now have a chance to question the two co-founders in detail under the threat of perjury which may or may not fall in favor of Yuga Labs, affecting the company and APE in its astronomical rise. 


Will ApeCoin Continue APE’ing Around? 
As of writing, the token has been rejected on the $5 resistance range and has since started its downwards momentum. This might only be a short correction as APE rode the bullishness as the major cryptocurrencies rallied as well. 



However, as the Yuga Labs’ co-founders are subject to deposition, the sway of investor sentiment on APE might swing to the bears. Investors and traders must keep tabs of the sworn statement against the company co-founders as the results of this will impact the firm and its NFTs and token. 
Short-term, the bears might win as the correction phase is in full swing. Investors and traders will find support at $4.2 which should sustain a further retesting of the resistance at $5. But for now, investors should HODL as we await the results of the proceedings against Yuga Labs. 
-Featured image from The Guardian


Investors and traders of ApeCoin (APE) have been seeing some big gains since the start of 2023. With the crypto market experiencing a surge in prices, ApeCoin has been riding the bullish wave upwards showing gains on almost all timeframes.  ApeCoin is riding the bullish momentum, while Yuga Labs’...

ApeCoin Climbs 21% In Last 7 Days As Sentiment Remains Bullish

A closely followed crypto trader says Decentraland (MANA), ApeCoin (APE) and Frax Share (FXS) are setting the stage for big rallies.
The pseudonymous trader Cantering Clark tells his 156,700 Twitter followers that the metaverse protocol Decentraland is showing a short bear squeeze, signaling further upside.

“GameFi and metaverse pumping. If I had to guess, MANA has the potential to get even more violent to the upside given that OI [Open Interest] is nearly double what it normally was, before a bunch of Barry-related shorts and hedges were tagged on. This squeeze has more fuel.”
Source: CanteringClark/Twitter
A short squeeze happens when traders who borrow units of an asset at a certain price in hopes of selling them for a lower price to pocket the difference are forced to buy assets back as the trade moves against their bias.
At time of writing, MANA is valued at $0.41, up over 38% from its low this month of $0.295.
Looking at APE, Cantering Clark says the native token of the Bored Ape Yacht Club community is likely going to continue upward after taking out its immediate resistance.
“A close through $4.30 for the weekly is setting up right now with only 30 minutes left. If metaverse and GameFi are going to continue to pump, APE catches wind in its sails.”
Source: CanteringClark/Twitter
APE is valued at $4.52 at time of writing. A move toward the analyst’s target of $7.20 suggests an upside potential of nearly 60% for APE.
Lastly, he says FXS, the governance token for the Frax stablecoin protocol, appears to be forming a solid bottom and could be gearing up for a breakout.
“I see FXS catching a bid again, and this three-day chart has a granite bottom. I am betting on this breaking up, and positioning accordingly.”
Source: CanteringClark/Twitter
At time of writing, FXS is changing hands at $5.53.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney
The post Top Crypto Strategist Predicts Violent Rallies for Decentraland, ApeCoin and One Additional Altcoin appeared first on The Daily Hodl.


A closely followed crypto trader says Decentraland (MANA), ApeCoin (APE) and Frax Share (FXS) are setting the stage for big rallies. The pseudonymous trader Cantering Clark tells his 156,700 Twitter followers that the metaverse protocol Decentraland is showing a short bear squeeze, signaling furt...

ApeCoin price	$3.92
Low - High 24H	$3.84 - $4.12
Market cap	$1.44B
Volume 24H	$131.14M
All time high	$26.70 -85.40% April 28th 2022
All time low	$2.63 48.39% November 14th 2022
Genesis date	N/A

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