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Elon Musk Changes Twitter Display Picture to Collage of Bored Apes; APE Surges

Shaurya Malwa - CoinDesk
2022-05-04 11:01
Tesla founder Elon Musk put up a collage of Bored Apes as his Twitter profile picture on Wednesday. ApeCoin (APE), the native token of the Bored Ape Yacht Club ecosystem, surged 11% during the European trading session.
Source: Twitter
  • APE rose sharply to as much as $16.60 from this morning’s $14.40 level, data shows. The token is used to vote on community decisions and other services within the popular Bored Ape Yacht Club (BAYC) ecosystem.
  • No direct correlation between the two events was established at the time of writing and it was also unclear if the collage was of Bored Apes, or monkeys that resembled the multibillion dollar-valued BAYC collection.
  • Musk is a proponent of Dogecoin (DOGE) and has previously lent support to the memecoin’s development and adoption. He had previously stated that profile pictures on Twitter showcasing one’s non-fungible tokens (NFT) were “annoying.”
  • Musk, who recently purchased the entirety of Twitter, said in a tweet on Tuesday that usage of the social media site for commercial and government users could attract a cost.
  • Several celebrities have put up, or had put up, Bored Ape pictures as their Twitter profile pictures, which has contributed to the wide popularity of the NFT collection. The list includes basketball star Stephen Curry and musician Steve Aoki.
  • CoinDesk reached out to BAYC creator Yuga Labs for comment at the time of writing.
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