• About
  • Contact
  • Privacy Policy
  • Terms and Conditions
Friday, June 27, 2025
The VR Soldier
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
The VR Soldier
No Result
View All Result

ApeCoin Price Drops Over 15%, Four Days After $1 Million BAYC NFT Hack

Kyle Portman by Kyle Portman
April 29, 2022
in News
Reading Time: 4 mins read
0
apecoin price drops
Share on TwitterShare on Facebook

ApeCoin has been one of the top performers this week, rising by over 30% this week and setting a new all-time high of $27. However, today the ApeCoin price dropped significantly by over 15%, only four days after the $1 million BAYC NFT hack, where a thief exploited Instagram to gain access to the Bored Ape Yacht Club’s official account, posting a phishing link and stealing NFTs out of users’ accounts. Let’s look at what the future holds for ApeCoin.

$1 Million Worth of BAYC NFTs Stolen

This week started quite rough with a hacker exploiting the official Bored Ape Yach Club’s account and posting a phishing link to a fake airdrop. When unsuspecting users visited the link and connected their wallets, the thief wiped the wallets clean of the NFTs and transferred them to his address.

The thief got away with over $1 million worth of NFTs. Quite a tragic turn of events which is a reminder that crypto is still the wild west, and holding NFTs worth thousands of dollars in a hot wallet is a terrible idea.

However, one can’t necessarily blame the NFT holders for this hack, as the airdrop was announced via BAYC’s official Instagram accounts. It seems that the BAYC Foundation or Yuga Labs should take accountability for the users’ losses and reimburse the victims of this hack.

ApeCoin Price

Even after the hack, the ApeCoin price continued its price hike, despite the rest of the cryptocurrency market trading sideways and showing slight bearish momentum. The cryptocurrency rallied all week until today when APE dropped by over 15% in a single day.

apecoin price chart from coinmarketcap
Source: CoinMarketCap

Looking at the above chart from CoinMarketCap, most of the trading volume for APE occurred around the $20 mark. While many did FOMO into the market at prices above $25, most traders decided to either sell or buy the dip at the $20 level, not expecting the further drop to $18.

Overall the market is still relatively healthy, and today’s APE correction could be simply due to the end of the week, and the rally could return next week.

ApeCoin’s current valuation is relatively high at $6 billion, surpassing every Metaverse crypto coin, even Decentraland, and The Sandbox. As such, a correction of 10-20% shouldn’t be surprising as the cryptocurrency is still in its early stages and was only launched last month. As ApeCoin starts expanding its ecosystem, providing utility, and building its Web3 economy, the real rally will begin.

ApeCoin News

When it comes to ApeCoin news, after the two proposals initiated last week, both went up for voting last night. The voting will conclude on May 4th, so get your votes in before that.

The proposals AIP-21 and AIP-22 have to do with launching a staking system for existing BAYC NFT holders and allocating funds for the pool to reward participants.

It’s important to note that ApeCoin focuses on incentivizing existing NFT holders to invest in the token and participate in its ecosystem. At this time, those who will most drastically benefit from APE are early adopters who own Yuga Labs NFTs.

What Is ApeCoin?

Launching on March 17th, 2022, ApeCoin is a governance token for the Bored Ape Yacht Club NFT collection. The digital asset provides holders with voting power to influence proposals initiated by the DAO that governs the project.

ApeCoin is looking to expand its Web3 ecosystem in the future and is looking to become a leading Metaverse coin. The project is now focusing on building the foundation for its economy in the form of staking, partnerships, and utility.

ApeCoin Foundation Board
ApeCoin Foundation Board Members

APE is an ERC-20 token living on the Ethereum blockchain. It features a max supply of 1 billion with a current supply of 284 million. Due to the economics of the token, its supply will never surpass 1 billion.

You can buy APE on Binance, KuCoin, Gate.io, Coinbase Exchange, FTX, Huobi Global, Uniswap, Kraken, Gemini, Bitfinex, Poloniex, and more.

Disclosure: This is not trading or investment advice. Do your research before buying any Metaverse crypto coin or investing in any crypto project.


Also Read:

Teenage Mutant Ninja Turtles NFT Whitelist Is Open

Follow us on Twitter @thevrsoldier to stay updated with the latest Metaverse news!

Image Source: seewhatmitchsee/Shutterstock.com

Tags: ApeCoin
Previous Post

Top 7 Most Popular dApps on Solana for April 2022

Next Post

Top 3 Metaverse Crypto Coins With a Market Cap Below $400 Million

Related Posts

Trump to Save Crypto: New Order May End Banking Discrimination
News

Trump to Save Crypto: New Order May End Banking Discrimination

June 25, 2025
Why Ethereum 6-Second Block Time Might Change Everything
News

Why Ethereum 6-Second Block Time Might Change Everything

June 24, 2025
Jupiter Token Crash: Why JUP Lost 80% and What Happens Next
News

Jupiter Token Crash: Why JUP Lost 80% and What Happens Next

June 24, 2025
BTC Defends $100,000 Support Amid Iran Conflict, Is a Major Rally Coming?
Market Analysis

BTC Defends $100,000 Support Amid Iran Conflict, Is a Major Rally Coming?

June 22, 2025
Bitcoin $103K Support Is Shaking, Will the Bears Get Burned
Market Analysis

Bitcoin $103K Support Is Shaking, Will the Bears Get Burned?

June 21, 2025
Featured

Dogecoin Price Faces Breakdown

June 20, 2025

Press Releases

Jupiter Token Crash: Why JUP Lost 80% and What Happens Next
News

Jupiter Token Crash: Why JUP Lost 80% and What Happens Next

by Alex Mercer
June 24, 2025

Introduction If you blinked, you might’ve missed Jupiter’s brief moment in the spotlight. The DAO behind the once-buzzy token has...

Read more
Bitcoin Price Survives Israel-Iran Tensions, Hack, and $200B Meltdown

Bitcoin Price Survives Israel-Iran Tensions, Hack, and $200B Meltdown

June 19, 2025
What you will get:  Simple steps to start trading cryptocurrencies like Bitcoin and Ethereum How to choose a reliable crypto exchange with low fees and strong security Key tips to read crypto price charts and manage trading risks How to stay updated with market-moving news and practice safely before investing Introduction Cryptocurrency trading has exploded in popularity as an easy way to earn online. With simple guidance you can start trading Bitcoin Ethereum and other altcoins using your phone or computer. This guide gives clear steps for beginners. What Is Crypto Trading and How Does It Work Crypto trading is buying and selling digital currencies like Bitcoin Ethereum Cardano or Solana to make a profit. You buy when prices are low and sell when they go higher. There are two main trading types: Spot trading: You own actual coins. Derivatives trading: You trade based on price movements without owning coins. Spot trading is perfect for beginners because it’s more straightforward and less risky. Step 1 Choose a Reliable Crypto Exchange Select a trusted crypto exchange. Popular beginner-friendly options: Binance: Low fees and many altcoins Coinbase: Easy for beginners with strong security Kraken: Great support and euro compatibility Bybit: Simple interface with spot and futures Look for: Easy sign up and verification Strong security (2FA, cold storage) Low trading fees and fast euro or fiat deposits Wide selection of coins and high volume Step 2 Learn Crypto Chart Reading Reading price charts will improve your crypto trading success. Key concepts: Trend lines: Overall up or down movements Support levels: Prices where value tends to bounce up Resistance levels: Prices where value tends to slow or reverse Start with basic charts like candlestick charts. Many platforms like Binance and Kraken offer built-in guides. Step 3 Manage Risk and Use Stop Losses Crypto prices are very volatile and can change fast. Protect your investment by: Investing only what you can afford to lose Using stop-loss orders to sell automatically at a set lower price Not risking more than 1–2% of your portfolio on any trade This risk management helps you stay in the game long term. Step 4 Stay Updated with Real-Time Crypto News Crypto markets respond instantly to news. Use reliable sources like Vr Soldier, CoinDesk, CoinTelegraph and The Block. Track: Bitcoin ETF decisions New coin listings on exchanges Regulatory changes Major partnerships and developments Following crypto news helps you predict good entry and exit points. Step 5 Use Demo Accounts to Practice Many exchanges like Binance and Bybit offer demo accounts or testnets. Practice trading with virtual money first. This helps you learn: How orders work Chart reading in real time Trading fees and order types Once you feel confident, move to small real trades. Final Simple Tips for New Crypto Traders Start with well-known coins like Bitcoin Ethereum Avoid chasing hype or FOMO (Fear Of Missing Out) Keep a basic trading journal or spreadsheet Learn from both wins and losses Crypto Trading Basics for Long Term Profit

Crypto Trading Basics for Long Term Profit

June 16, 2025
$3 Billion in Bitcoin Options Expire Today — Will BTC Crash or Bounce?

$3 Billion in Bitcoin Options Expire Today — Will BTC Crash or Bounce?

June 14, 2025
Trump vs Elon Musk: Bitcoin Dips as Tesla Crashes

Trump vs Elon Musk: Bitcoin Dips as Tesla Crashes

June 6, 2025
The VR Soldier

© 2024 The VR Soldier

Navigate Site

  • About
  • Contact
  • Privacy Policy
  • Terms and Conditions

Follow Us

No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases

© 2024 The VR Soldier