This is how ApeCoin’s new staking update will change APE’s fortunes


  • ApeCoin announces launch dates after bug fixes
  • While social volume and engagement have increased, weighted sentiment and interest in whaling has declined

ApeCoin, recently Update, announced the dates when staking for ApeCoin will be launched. This launch could lead to hype for the altcoin around $APE, something that could positively impact price action as well.

read appcoin [APE] Price forecast 2022-2023

as above tweet, APE strike goes live on December 12. Until that date, interest in the coin may continue to rise in the charts.

On the social front, for example, ApeCoin saw growth. According to LunarCrush, a social media analytics firm, ApeCoin’s social engagement has increased by 42.4% over the past week. Coupled with the increasing number of engagements, ApeCoin’s social volume also registered an increase as shown by the sentiment charts.

However, despite ApeCoin’s social appreciation, the weighted spirit continued to wane. A declining weighted sentiment suggested that at the time of writing, the crypto community had more negative than positive things to say about ApeCoin.

Source: sentiment

ApeCoin-affiliated NFTs also struggled in this market, with weighted price declines. NFTs such as BAYC, MAYC, and Crypto Punk have shown volatility in terms of price and volume over the past few days.

According to NFTGO, BAYC’s volume is down 32% in the last 7 days. MYC volume is down 50.87% over the same period.

In fact, MAYC’s sales numbers also fell. The numbers for this are down 54.79% in the last 7 days. At the same time, there is a decrease in the number of remittances and the liquidity of NFT direct debits.

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Source: NFTGO

Another cause for concern for ApeCoin investors would be a decline in whale interest.

It can be seen that the supply of the top addresses has decreased significantly in recent days, which means that major addresses are starting to lose interest in the coin. At the same time, the MVRV ratio was also negative, underlining that most APE holders would suffer losses if they decided to sell their holdings.

However, ApeCoin’s speed also registered an increase. This showed that the frequency of APE exchange between addresses has increased recently.

Source: sentiment

It remains to be seen whether the introduction of staking APE will help overcome the barriers to growth.

At the time of writing, APE was trading at $3.39, having gained 2.88% in value over 24 hours.




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