CoinMarketCap says that ApeCoin (APE), the Ethereum-based token of the Bored Ape Yacht Club ecosystem, has gone up 15.7% in the last 24 hours and is now trading at $5.19, its highest price in two weeks.
The current price movement of APE could be seen as part of a larger market recovery, which saw Bitcoin pass $20,000 earlier on Friday. However, the token’s price may also be affected by news about the project.
The Ape Foundation, in particular, has explained their ideas for a new election process for the project’s decentralized autonomous structure (DAO).
If the suggestions are accepted, the election process will change so that a council member’s seat will be up for election every three months.
A statement on ApeCoin’s official Twitter account says,“This creates a stable environment to responsibly bring in new members and ensure that the DAO has consistency to operate and efficiently transfer knowledge while also introducing fresh ideas from the community.”
We listened to @yugalabs and the rest of the community. When making something new from scratch, continuity and stability are very important.
Alexis Ohanian, co-founder of Reddit, Amy Wu of FTX Ventures, Maaria Bajwa, Principal at Sound Ventures, Yat Siu, Chairman of Animoca Brands, and Dean Steinbeck, President of Horizen Labs, are all members of the Ape Foundation at the moment.
On the other hand, community members have been pushing for a long time for more participation from people who are not connected to corporations that may have third-party interests.
Flow (FLOW), a native currency of Dapper Labs’ Layer-1 blockchain, has gained 10% in the last 24 hours and was worth $2.13 at press time, according to data from CoinMarketCap.
Flow is a proof-of-stake (PoS) blockchain that works best for NFT collectibles and crypto games. Ticketmaster, a big company that sells tickets, recently chose it to make NFT tickets for the Super Bowl LVI and other events.
According to CoinMarketCap, Axie Infinity (AXS), the governance token of the same-name blockchain-based game, has gone up 6.2% in the last 24 hours and is now trading at $14.85.
SAND, the token that powers another metaverse game called The Sandbox, in which players can buy virtual plots of land, sometimes for millions of dollars, gained 6.8% on the day and sold for about $0.968. On the other hand, Decentraland’s MANA has gone up 5.3% in the last day and is now worth $0.807.
Latest NFT News, Trendings and Tutorials, right at your inbox, every Monday Leave this field empty if you're human: