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ApeCoin Market Cap Sank More than $2.5 Billion in May

Raphael Minter-BeInCrypto
2022-06-23 04:00
ApeCoin was among the hardest hit cryptocurrencies in May’s market crash and this led to a sharp decline in its market value. The asset is supported by one of the most successful NFT projects of all time—the Bored Ape Yacht Club.
ApeCoin remains a top 50 digital asset by market capitalization in June 2022. APE closed the fifth month of the year with a market value of approximately $1.97 billion, according to Be[In]Crypto research.
While this number seems high due to the plunge in the value of other digital currencies, this figure was a 56% dip from its market value on May 1. On that day, APE saw an impressive trading volume of $3.37 billion which corresponded to a market capitalization in the region of $4.55 billion.
Source: APE Historical Data by CoinMarketCap

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