ApeCoin (CRYPTO: APE) has re-emerged as the most traded cryptocurrency by the 1,000 biggest Ethereum (CRYPTO: ETH) wallets in the past 24 hours, as at press time late Wednesday.
What Happened: ApeCoin was also ranked sixth among the ten most-purchased tokens and stood seventh among the most used smart contracts by the Ethereum whales during the 24-hour period, according to data from cryptocurrency data platform WhaleStats.
Meanwhile, ApeCoin is trending in the fifth spot on CoinMarketCap.
See Also: How To Buy ApeCoin (APE)
Why It Matters: Decentralized organization ApeCoinDAO launched ApeCoin as a token for culture, gaming and commerce to build out Web3 efforts.
The token is a decentralized project inspired by Yuga Labs’ Bored Ape Yacht Club (BAYC) non fungible token (NFT) project.
ApeCoin noted on Twitter that the first-ever voting window for the ApeCoin DAO members closed on Wednesday. Each token holder is eligible to vote on governance and use of the Ecosystem Fund.
Price Action: ApeCoin is up 3.7% during the past 24 hours, trading at $14.11 at press time.
Meanwhile, Bitcoin is down 0.4% during the period to $47,270.58, according to data from Benzinga Pro.
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