Huobi Token and ApeCoin Shine Despite FTX wildfire

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Altcoins
Huobi Token and ApeCoin Shine Despite FTX wildfire

Huobi Token (HT) has been performing well over the past few days, and other cryptos appear to be affected by the fallout from FTX’s collapse. With a notable increase of approximately 48% from the previous week, it currently holds the top spot as the weekly winner. ApeCoin (APE) has also experienced growth similar to Huobi’s run.

The ApeCoin token increases by 25% during the last week

ApeCoin (APE/USD), which has gained 25% in the past week, is one of end November’s top 3 high returns cryptocurrencies. In June, the cryptocurrency hit its most recent low of $3.0. APE has finally surpassed the bottom and, as of this publication, was trading for $3.8. 

An NFT from the Bored Ape Yacht Club collection sold on November 23 for $950,000, or 800 ETH. The identical statement was given to Keungz, an NFT collector who owns numerous Yuga Labs specimens. Another NFT trade of roughly $940,000 or 780 ETH took place between two unnamed wallets. Amid a protracted crypto winter-affected NFTs, both sales were completed above the current floor price.

Nansen data shows that the price ranged from a low of $4.69 on November 21 to a high of $7.32 on November 27 throughout the past week. With a loss of roughly 11.01% over the previous 24 hours, the Huobi token is currently down to $6.34 on the market. However, its 24-hour trading volume shows a notable increase of almost 82.80%.

One of the things driving up the price of the Huobi token is the release of the 1,000,000 $USDT and limited-edition NFTs shared for the Huobi community via PrimeBox x CryptoSoccer on November 23, which are accessible through November 30.

The ERC-20 governance and utility token ApeCoin (APE), which is now trading at $3.81 and has experienced a weekly price shift of $2.86 to $3.94, comes next. Over the past seven days, the token has increased by about 26.44%, and over the last 24 hours, it has increased by 1.25%.

The news that the community-led DAO, made up of ApeCoin holders, has launched a marketplace to buy and sell NFTs from the Yuga Labs ecosystem is one of the factors contributing to the spike.

The ApeCoin Marketplace, suitably named after the NFT infrastructure provider Snag Solutions, was designed to facilitate transactions between the BAYC, Mutant Ape Yacht Club, Bored Ape Kennel Club, and Otherdeed NFT collections. On November 24, it was published.

In the meantime, the DAO of the ApeCoin community has opened its market for NFTs from the ecosystem. On November 24, the online market opened. The transactions from the BAYC collections, Mutant Ape, Bored Ape, and Otherdeed will all be supported. These developments might raise awareness of the APE token.

This week’s highlights 

To begin the week, Dogecoin (DOGE) rocketed to a three-week high as the coin advanced for a second straight session. After falling to a low of $0.08695 on Friday, DOGE rose to an intraday high of $0.09474 on Saturday. The token’s price had increased to its highest point since November 8, when it peaked at $0.1125, thanks to this gain in value.

Following closely is Chainlink (LINK), which has gained about 19% over the previous week but has taken a fall by about 5% over the past 24 hours, currently trading at $6.81. Additionally, the weekly price increased from $5.58 to $7.25.

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Wayne Jones

Wayne is an all-rounded cryptocurrency writer who has written for several publications in the fintech industry. Having graduated from the University of Essex Colchester, he developed a passion for blockchain technology and has been curious about how the blockchain can modify the traditional financial industry.