A dip in the crypto market has been witnessed centered around ApeCoin (APE), developed by Yuga Labs as the governance token to enhance the Bored Ape Yacht Club (BAYC) non-fungible token collection’s utility. This struggle to stay afloat has been on for weeks, especially since the token has failed to break through its 21-Day Moving Average.
Lately, APE has been trading around $2.20 per token, a familiar range over the past month or so. Unlike its counterparts, bitcoin (BTC) or ether (ETH), APE does not show signs of replicating their positive performance due to the poor performance of NFT markets, including the BAYC collection.
One factor in the current state of the NFT market includes misgivings some prominent investors have concerning the recently launched Azuki NFT collection. The uncanny similarities between this and a previous collection led investors to form the Azuki DAO to seek refunds. This uneasiness has seeped into the market confidence, with BAYC collection’s price floor hitting near a two-year low of $52,000—a steep fall from the record-high of $370,000 in April 2022.
As a result, skepticism abounds on NFT-linked cryptocurrencies like APE, with the token currently teetering around $2.0, which is quite close to its record lows and a significant plunge from its record highs last April.
However, amidst this downward trend, an ape-themed Chimpzee crypto seems to have found favor in the industry. Touted as web3’s foremost charity project, this project is entering its sixth stage of the highly sought-after crypto presale. Having raised an impressive $680,000 through its $CHMPZ token sales, it piques investors’ curiosity with competitive benefits and exclusive perks through its NFT Passports.
Chimpzee also enables its users to earn passive income while making a considerable environmental impact. This project strikes a chord by providing a unique balance between profit and planet preservation.
Given the ongoing presale, early bird investors can enjoy a considerable bonus on $CHMPZ coins and might be able to not only secure considerable returns but also help contribute to protecting black jaguars.
However, potential investors should do their due diligence and make the move quickly. According to the roadmap, the price of $CHMPZ is set to rise 4.5% from $0.00067 to $0.0007 just nine days into the next stage—increasing potential gains to a whopping 275%. It’s evident that the industry, despite its patent pitfalls, still has interesting and possibly profitable avenues to explore. In the face of criticism and scepticism, projects like Chimpzee are pushing back, aiming to flip the script with their future-forward vision.
Source: Cryptonews
