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 | 82% | 25 | $64 115.65 | 0.98% | -1.14% | $1 262 463 975 094 |  |
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|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 75.2% | 46 | $3 124.66 | 1.36% | 0.84% | $381 363 010 827 |  |
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| 3 |  USDT |
Tether predictions | 93.6% | 1 | $0.999854 | -0.03% | -0.08% | $110 447 420 801 |  |
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| 4 |  BNB |
Binance Coin predictions | 88.8% | 20 | $602.82 | -0.47% | 7.79% | $88 952 185 222 |  |
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| 5 |  SOL |
Solana predictions | 67.6% | 71 | $142.46 | -0.84% | -1.73% | $63 703 839 151 |  |
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| 6 |  USDC |
USD Coin predictions | 92.4% | 2 | $0.999870 | -0.07% | -0.01% | $33 395 584 361 |  |
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| 7 |  XRP |
XRP predictions | 68.8% | 68 | $0.521978 | 0.93% | 4.27% | $28 776 208 972 |  |
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| 8 |  DOGE |
Dogecoin predictions | 69.2% | 65 | $0.149772 | 1.00% | -1.91% | $21 573 507 697 |  |
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| 9 |  TON |
Toncoin predictions | 69.2% | 65 | $5.37 | 3.44% | -25.12% | $18 635 032 400 |  |
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| 10 |  ADA |
Cardano predictions | 62.4% | 77 | $0.466874 | 0.48% | 0.08% | $16 636 554 038 |  |
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| 11 |  SHIB |
SHIBA INU predictions | 64% | 82 | $0.000026 | 3.92% | 11.81% | $15 051 421 388 |  |
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| 12 |  AVAX |
Avalanche predictions | 65.2% | 75 | $35.10 | 0.60% | -1.04% | $13 276 150 974 |  |
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| 13 |  TRX |
TRON predictions | 87.2% | 21 | $0.118178 | 3.18% | 8.40% | $10 348 521 458 |  |
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| 14 |  WTRX |
Wrapped TRON predictions | 89.6% | 18 | $0.117768 | 2.86% | 8.26% | $10 312 611 072 |  |
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| 15 |  STETH |
Lido stETH predictions | 95.2% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
