ApeCoin (APE), a cryptocurrency created by Era Labs and adopted as the native token of Bored Ape Yacht Club (BAYC), was the subject of much discussion in the first quarter of 2022.
BAYC has consistently ranked among the top non-fungible token (NFT) collections with a thriving community since the inception of the ApeCoin DAO in April 2021.
Recently, Gucci announced that some of its US stores will accept ApeCoin as a form of payment. Italian high-end luxury apparel house boutiques in the US will accept APE for in-store transactions using BitPay, a bitcoin (BTC) and cryptocurrency payment service provider.
In a tweet a few days ago, Gucci wrote, “Now accepting @ApeCoin payments via @Bitpay, select Gucci boutiques in the United States expand the range of cryptocurrencies available for in-store purchases, yet continue to be available on the web. There is one more step in the search for the House of 3.”
now accepting @ApeCoin payment through @bitpaySelect Gucci boutiques in the United States expand the range of cryptocurrencies available for in-store purchase, yet another step in the quest for the House of Web3.
— gucci (@gucci) 2 August 2022
This news has increased the latest bored ape Yacht Club NXT collection. Apcoin price is now trading above a key support area, despite increasing bearish sentiment in the cryptocurrency market.
Thanks to Gucci’s ambitions to enter the Web 3.0 space, Apcoin has been able to demonstrate its true growth potential as an NFT asset.
The general boom in the cryptocurrency industry was one of the many factors that fueled the ApCoin boom. Investors now expect Apcoin to cross the US$10 threshold as soon as possible.
At the time of writing, Apcoin was priced at $7.25, according to CoinMarketCap,
Given the volatility of the cryptocurrency market, it may take some time for Apcoin to reach the $10 range.
According to experts, Apcoin’s spike will increase its market value by up to 50 percent. He also believes that the growing popularity of cryptocurrencies will act as one of the main drivers of their market cap.
The creators of ApeCoin and BAYC are now making their mark in the decentralized market. The cryptocurrency could soon be bullish and overthrow some of the biggest available.