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Over $30 Million Worth of APE Token Pours Into ApeCoin Staking in First Day

One day after the Ape Foundation opened staking for its APE currency, over $30 million worth of the token has been deposited into its contract.

The token is the native currency of the Yuga Labs ecosystem, airdropped to holders of the Web3 collective’s mainstay non-fungible token (NFT) collections, Bored Ape Yacht Club and Mutant Ape Yacht Club, back in March.

The price of the token itself hasn’t changed much in the weeks leading up to the staking – at the time of writing, APE is trading for around $4.20, the same price as two weeks ago. At its peak in the days before Yuga Labs’ Otherside metaverse land sale last April, APE was trading for over $22.

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