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Nifty News: Apecoin no longer going bananas, Pharrell touts Doodles and more…
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Apecoin, the Ethereum-based token tied to the widely popular and almost definitely probably not 4Chan-related Bored Ape Yacht Club NFT project, saw its market cap drop by 67.2% or $4.3 billion during May and it has continued to slide since.
Despite bearish macro factors looming over both crypto and stock markets throughout 2022, May in particular was a difficult month for crypto (thanks Terra!) Much like many other assets, Apecoin was unable to escape the brunt of this downturn, and its market cap declined by $4.3 billion to sit at roughly $2.1 billion by May 31 as the price dropped from $21.27 to $6.97, according to data from CoinGecko.
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