ApeCoin (APE) Price Turnaround: End of Capitulation?
With another 20% drop already in May, ApeCoin ( APE ) price appeared to be grinding toward its fourth consecutive month of decline. But recent swings in some critical on-chain metrics show signs of a possible bullish price reversal. But will investors buy into the positive ApeCoin price prediction?
ApeCoin (APE) is a utility and governance token of the famous Bored Ape Yacht Club ( BAYC ) NFT ecosystem. The recent downtrend in the global NFT markets has seen APE suffer three consecutive months of price decline.
ApeCoin Sees Sudden Spike in Trading Activity
APE price is already down 20% this month. But in an interesting turn of events, there has been a dramatic uptick in the number of users trading on the ApeCoin network this week.
Between April 30 and May 10, the APE Daily Active Addresses skyrocketed by 100% from 1,251 to 2,502 active users.
But this week, an uptrend in trading activity across the ApeCoin network has given investors a glimmer of hope. Here’s why.
Read More: https://beincrypto.com/ape-price-recovery-end-capitulation/
With another 20% drop already in May, ApeCoin ( APE ) price appeared to be grinding toward its fourth consecutive month of decline. But recent swings in some critical on-chain metrics show signs of a possible bullish price reversal. But will investors buy into the positive ApeCoin price prediction?
ApeCoin (APE) is a utility and governance token of the famous Bored Ape Yacht Club ( BAYC ) NFT ecosystem. The recent downtrend in the global NFT markets has seen APE suffer three consecutive months of price decline.
ApeCoin Sees Sudden Spike in Trading Activity
APE price is already down 20% this month. But in an interesting turn of events, there has been a dramatic uptick in the number of users trading on the ApeCoin network this week.
Between April 30 and May 10, the APE Daily Active Addresses skyrocketed by 100% from 1,251 to 2,502 active users.
But this week, an uptrend in trading activity across the ApeCoin network has given investors a glimmer of hope. Here’s why.
Read More: https://beincrypto.com/ape-price-recovery-end-capitulation/
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