ApeCoin could dump this marketplace after BAYC proposal voting begins

The ApeCoin APE Decentralized Autonomous Organization (DAO) has taken steps towards providing an APE-powered NFT marketplace. At press time, it was observed that voting had begun proper on all proposals submitted earlier.

Timeline of Apecoin-ape

Over the weekend, 25 million APE tokens will be released to launch contributors. This will be representing nearly 8% of the circulating supply. This will expectedly be adding up to the selling pressure, as guesses are being made if the launch contributors will sell off their tokens once released.

The ApeCoin community has three proposals up for voting to have a separate NFT marketplace for Apes powered by ApeCoin (APE). NFT marketplace Magic Eden earlier proposed to build the ApeCoinDAO marketplace for the ApeCoin community to slash transaction fees, increase user experience, and increase APE utility.

There is a lot of optimism surrounding cryptocurrencies at the moment, with many analysts starting to believe the ‘crypto winter' is ending. There has been a general uptick in the markets, with tokens like ApeCoin (APE) and Solana (SOL) seeing notable rises.

Among the coins with the highest trading volume, let's look into Fantom (FTM) and Apecoin (APE) to see if it's a good time to enter these trades. Both coins made impressive gains in the last 7 days, thanks to the crypto market's latest bull run.

These past few months have seen many devastating things happen in the crypto world, and many tokens, including Apecoin (APE) and Solana (SOL), have suffered because of it. To combat losses, investors have set their sights on the upcoming protocol —  Flasko.

Trending cryptocurrencies often see a jump in price as momentum around these coins grows and demand for them spikes. So, it's no surprise that many crypto investors seek out trending cryptocurrencies to buy and hold.

ApeCoin (APE) and Shiba Inu (SHIB) posted big gains following the recovery in the broader crypto market on Friday last week. Despite this, analysts warned investors that an upcoming sell-off could leave a painful dent in their portfolios.

A five-day winning streak in Apecoin price reclaimed the $5 psychological resistance and tagged another resistance of $5.63. A possible breakout from this resistance will offer a higher footing for prices to bolster further price rally.

The Apecoin price cushioned at the $4.17 level and showed a recovery signal with a three-day rally. Thus, the bull run breached the immediate resistance of the falling wedge pattern and the $4.85 mark.

The price of ApeCoin (APE) has recently struggled against tether (USDT) after seeing its price rejected from $7.5. Bitcoin's (BTC) price showed some great strength bouncing off from a low of $18,500 to a high of $21,000.