ApeCoin reaches a new ATH, up 17%, soon to reach $100?

While the crypto market is showing bearish momentum today, ApeCoin continues its meteoric growth, rising over 17% in the past 24 hours and setting a new all-time high of $17.

A new proposal was posted two days ago on the official ApeCoin forum on April 21, suggesting that the ApeCoin community would benefit from an official Babylon garden where they could deposit APEs and create wealth in the form of additional tokens.

For those unfamiliar with Babylon Finance, it is a decentralized, community-driven asset management protocol, allowing users to create investment clubs, aka gardens, and invest together in the Challenge. Babylon Finance is built on the Ethereum network and is fully decentralized, meaning it has no custody, so users don’t have to give up control of their keys.

The platform is perfect for DAOs like ApeCoin as it allows members to supercharge project tokens. Babylon can turn tokens into collateral, enable DeFi Yield farming, token redemption, etc.

The proposal has received positive reactions from members of the ApeCoin community, and there is a good chance that APE will soon have a Babylon garden.

This recent proposal could be a driver for the growth of APE over the past couple of days as the Metaverse coin sets new all-time highs.

For those who still don’t understand the proposal, here is a quick explanatory image uploaded by rrecuero, an ApeCion forum user:

If you are an EPA holder and want the proposal passed, you have five days left before the topic is automatically closed, so head over to the forum and share your ideas.

After overtaking Decentraland as the top coin in the Metaverse last week with a current market cap of $4.7 billion, APE still has huge significant upside potential and will most likely surpass the market cap of $5 billion at some point. , either in April or May, assuming the overall cryptocurrency market continues to rise.

What is ApeCoin?

Launched on March 17, 2022, ApeCoin is the main utility asset of the Bored Ape Yacht Club NFT Collection. It also serves as the primary governance token for the APE Foundation, providing holders with voting power on DAO-initiated proposals.

Currently, the primary utility of ApeCoin is governance, but the community behind the token continues to find ways to expand its utility and ecosystem, securing various partnerships with brands and platforms.

Initially, ApeCoin was launched for the Web3 economy, and holders of the APE token have voting power to influence the outcome of proposals initiated by the DAO BAYC, which will shape the future of the coin.

APE is an ERC-20 token built on Ethereum and has a maximum supply of 1 billion tokens. The current circulating supply of APE is 284 million, and the total supply will never exceed 1 billion.

The EPA is currently trading at $16.5, up more than 17% in the last 24 hours. Its 24-hour trading volume is $1.9 billion, with a market capitalization of $4.7 billion. Interestingly, APE’s fully diluted market capitalization is $16.5 billion!

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