ApeCoin (APE) hits a new all-time high ahead of this week’s Otherside land auction

The bullish momentum in APE is due in large part to the upcoming The Otherside auction, which Yuga Labs will hold with Animoca Brands, and Bored Ape Yacht Club NFT project, on April 30.

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APE/USDT 4-hour chart. TradingView

A wallet that holds a BAYC (or Mutant Ape Yacht Club NFT) will be eligible to claim a totally free land parcel for 21 days following the auction.

Only Know Your Customer (KYC-approved wallets) will be permitted to participate in the preliminary 100,000 land parcels sales. As interested parties have actually accumulated the token in anticipation, the sales will be made using APE. This is driving demand for the token greater.

The Metaverse and non-fungible token (NFT), have actually been the shining spots in a crypto market that has gone downhill in 2022. This appears when the APE token reached $22.60 on April 28.

The Otherside adventure will start on 4/30 at 12pm ET, only on https://t.co/UWRD4dOC9H. The KYC on https://t.co/mbSVzDX9tp was to take part in Saturdays mint– only those who KYCed can get involved. You can discover more information in the.
— OthersideMeta (@OthersideMeta), April 25, 2022

Related: ApeCoin cost breaks after $2.4 M NFT burglary – Whats next?

The ApeCoin neighborhoods continuous governance votes have helped to increase APE need, which is a clear indicator that BAYC and MAYC holders want to be more associated with forming the future direction of the community.

As interested parties have actually collected the token in anticipation, the sales will be made utilizing APE. This is driving need for the token greater.

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