ApeCoin Price Skyrockets by 55% Amidst Speculation of BAYC Land Release
Cryptocurrency Chaos: APE Skyrockets Amid 'BAYC Land Drop' Rumors
In a thrilling turn of events, ApeCoin (APE), the native token of the APE ecosystem, saw a staggering 28% surge in price, reaching over $17 per token on April 20. This sudden price spike was attributed to the buzz around the purported 'BAYC land drop,' albeit unconfirmed.
The excitement began on April 18, as whispers about Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) NFT owners potentially receiving virtual lands on the highly anticipated "Otherside" metaverse platform by Yuga Labs circulated like wildfire across social media platforms. Although details about Yuga Labs' up-and-coming metaverse are scarce, we do know it'll be fuelled by ApeCoin.
Rumors suggested a Dutch auction for the Otherside virtual lands, with a minimum bid set at 600 APE – which equates to approximately $10,700 at the current price. Some BAYC owners, including Renegademasterr, claimed to have received this intel from a reliable source. However, it's essential to note that this information remains unverified.
The speculated APE use-case partially explains its recent growth in value over the past three days.
While waiting eagerly for The Otherside metaverse's official launch date, you might also be interested to know that BAYC member Adam Weitsman recently became one of the largest Otherdeed holders, indicating strong interest in the metaverse's real estate[1]. Otherdeed NFTs represent plots of land within the Otherside metaverse.
ApeCoin (APE) serves as a governance token for the ApeCoin DAO, which oversees the development of the Otherside ecosystem. BAYC holders enjoy exclusive benefits like access to IRL events, metaverse land, and governance rights via ApeCoin[2]. In February 2025, crypto whales were spotted stockpiling ApeCoin, indicating a potential interest in the token[5]. The current ApeCoin price hovers around $0.63 as of mid-April 2025[5].
Although we can't definitively predict the impact of a 'BAYC land drop' on ApeCoin's price, the overall ecosystem developments hint that a successful land drop or increased metaverse activity could positively influence ApeCoin's value, thanks to its central role in the ecosystem. However, it's crucial to consider the broader market sentiment and metaverse adoption to truly understand the potential price movements.
[1] Source: https://nhindex.io/top-100-nft-collectors-and-their-portfolios-ranked-by-market-value-in-2022/[2] Source: https://blog.yuga-labs.com/introducing-the-apes-dao-and-ape-ecosystem-governance[3] Source: https://en.m.wikipedia.org/wiki/DeFi_Pulse_Index[4] Source: https://coinmarketcap.com/alexandria/article/what-is-ape-coin-and-where-can-i-buy-ape-crypto[5] Source: https://coingecko.com/en/coins/apecoin
The buzz surrounding the potential "BAYC land drop" and the upcoming Otherside metaverse might greatly influence ApeCoin's value, given that it serves as the governance token for the metaverse's ecosystem. Intriguingly, the speculated Dutch auction for Otherside virtual lands, if confirmed, could potentially involve NFTs, cryptocurrency, and finance, further highlighting the role of technology in this digital space.
