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ApeCoin (APE) set a new high at US$26.70 on Friday morning Asia time, and is now the largest metaverse token by market cap, ahead of the launch of the Otherside on Saturday.
Fast facts
- The APE ecosystem’s governance token was trading at US$23.83 at press time.
- APE has a market cap of over US$6.8 billion, according to CoinGecko, now leading other metaverse tokens such as AXS, SAND and MANA.
- ApeCoin is the token for the upcoming metaverse project “the Otherside” by Bored Ape Yacht Club creator Yuga Labs.
- Otherside developers announced on Monday the first minting for the project will take place on April 30, which will be transacted in APE, though ETH will be required for gas fees.
- While the developer team did not specify, it is speculated the NFTs will be land parcels in the metaverse.