Bored Ape Yacht Club’s new token, ApeCoin, has become the most traded coin among the Ethereum whales, with 36,500 holding wallets.
The token has received a positive sentiment after the project’s developers adopted the coin for use in powering NFTs in various cryptocurrencies.
The project’s parent company, Yuga Labs, will maintain a total supply of 16% for the development of new products, including “Otherside,” a game expected to launch by the close of the year.
Yuga rewarded each BAYC NFT holder with 10,094 APES, equivalent to $128,000. Holders of a Mutant Ape got 2,042 APEs, equivalent to $26,068. 62% of the total APE supply was distributed as loyalty rewards.
The company has also obtained the rights for CryptoPunks and Meebits, where it was announced that it would give NFT holders complete commercial rights.
The Bored Ape Yacht Club remains the most popular collectible in the NFT space after skyrocketing more than 145,000% in under a year.