APE price could see more downside in the coming days as the Otherside hype cools down. ApeCoin (APE) caught its bulls off-guard with APE price losing nearly 40% in just three days. APE’s price reached its second-highest level, hitting $27.57 on April 28, up more than 2,650% from its mid-March debut. Nonetheless, traders started unwinding their positions after Yuga Labs, the Bored Ape Yacht Club (BAYC) nonfungible token (NFT) collection’s creator, released the details of the mint of its Otherside Metaverse lands, dubbed “Otherdeed.” Yuga Labs revealed that the NFT mint would cost a flat 305 APE, or $5,250 at the time of writing, in contrast to expectations that the company would sell the metaverse land parcels in a dutch auction manner. Thus, the disclosure may have reduced the need for people to hoard more ApeCoin tokens, leading to a drop in demand. Additionally, the selloff accelerated due to Yuga Labs’ decision to limit the minting of Otherdeed NFTs, starting with two NFTs per wallet for the first wave. This may have also played a role in driving down demand for APE tokens. ApeCoin serves as a primary settlement token for all the Yuga Labs’ products and services. Additionally, it is a governance asset within ApeCoin DAO, a decentralized autonomous organization that gives APE holders the right to vote on the proposals made by community members. But, the biggest takeaway remains APE’s close association with Yuga Labs itself, a blue-chip startup whose valuation reached $4 billion almost a year after its debut. So, the hype surrounding its metaverse land sales, all payable via ApeCoin, could absorb the ongoing selling.
ApeCoin (APE) hits a new all-time high ahead of this week’s Otherside land auction. APE price continues to hit new all-time highs as BAYC, MAYC and NFT investors prepare for the highly anticipated Otherside land auction. The nonfungible token (NFT) and Metaverse sectors have been the bright spots in an otherwise sideways crypto market in 2022 and proof of this comes as the APE token hit a new all-time high at $22.60 on April 28. The steady bullish momentum for APE is, in large part, due to the upcoming The Otherside land auction being held by Yuga Labs and Animoca Brands in conjunction Bored Ape Yacht Club NFT project on April 30. The Otherside launch will consist of a Dutch auction-style sale and only Know Your Customer (KYC)-approved wallets will be allowed to participate in the sale of the first 100,000 land parcels. All sales will be paid for using APE, which is clearly helping to drive demand for the token higher as interested parties accumulated the token in anticipation of the sale.
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Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 77.2% | 36 | $63 540.43 | 2.56% | -1.60% | $1 255 829 021 961 |  |
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| 2 |  ETH |
Ethereum predictions | 76% | 42 | $2 481.91 | 2.64% | -5.96% | $298 769 920 581 |  |
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| 3 |  USDT |
Tether predictions | 92.8% | 1 | $1.000138 | 0.01% | 0.01% | $119 693 873 487 |  |
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| 4 |  BNB |
Binance Coin predictions | 74.8% | 42 | $576.12 | 2.39% | -1.04% | $84 074 649 175 |  |
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| 5 |  SOL |
Solana predictions | 72% | 50 | $148.20 | 3.60% | -5.58% | $69 545 896 988 |  |
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| 6 |  USDC |
USD Coin predictions | 92.8% | 1 | $1.000225 | 0.02% | 0.03% | $35 506 494 098 |  |
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| 7 |  XRP |
XRP predictions | 73.6% | 44 | $0.540782 | 1.83% | -16.21% | $30 588 838 160 |  |
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| 8 |  DOGE |
Dogecoin predictions | 80.4% | 34 | $0.113747 | 4.37% | -7.45% | $16 637 108 781 |  |
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| 9 |  TON |
Toncoin predictions | 84% | 31 | $5.34 | 2.74% | -8.58% | $13 531 081 838 |  |
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| 10 |  TRX |
TRON predictions | 92.8% | 1 | $0.154408 | 0.73% | -0.45% | $13 369 002 913 |  |
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| 11 |  ADA |
Cardano predictions | 80.8% | 40 | $0.362785 | 3.85% | -7.11% | $12 683 346 378 |  |
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| 12 |  AVAX |
Avalanche predictions | 69.6% | 63 | $27.26 | 3.87% | -5.57% | $11 080 976 739 |  |
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| 13 |  SHIB |
SHIBA INU predictions | 55.6% | 94 | $0.000018 | 6.57% | -1.67% | $10 868 395 904 |  |
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| 14 |  STETH |
Lido stETH predictions | 92% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
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| 15 |  WTRX |
Wrapped TRON predictions | 94.4% | 1 | $0.116354 | -0.46% | 0.23% | $10 171 995 609 |  |
