Apecoin might soon emerge as the NFT crypto king as its price keeps surging after Gucci’s adoption
Apecoin is the crypto that represents the Bored Ape Yacht Club NFT collection. Its latest surge comes after the global high-end fashion brand Gucci’s announcement to adopt Apecoin payments for in-store purchases in the US. Apparently, Gucci became the first brand to accept APE as a payment option in its US stores. It would enable customers to make crypto payments by scanning a QR code with a crypto wallet via BitPay. The company has not yet detailed the reason behind choosing APE but definitely commented that the move is a step toward the company’s attempts to explore the Web3 domain.
Currently, the Apecoin price continues to hold above a crucial support range amid growing bearish sentiments in the crypto market, but Gucci’s attempts to venture into the Web 3.0 domain have enabled Apecoin to demonstrate its true growth potential as an NFT crypto asset. The widespread upswing in the crypto market is also one of the many reasons why a rally in the Apecoin crypto was triggered. Now, we can only wish that the APE token reaches the US$10 mark as soon as possible. At the time of writing this article, the Apecoin price was revolving around the US$7 mark; but if it successfully crosses the US$8 mark, it will guarantee APE’s rally above the US$10 resistance.
So, when will Apecoin hit the US$10 mark?
It might take a while for APE to reach the US$10 mark because the market is still at an extremely volatile stage. Experts say that Apecoin’s surge would result in a 50% rise from its current market value. They also believe that the crypto’s rising adoption might be one of the major triggers that will surge its market value. Presently, Apecoin and BAYC developers are building momentum in the decentralized market. In the coming days, the crypto might get bullish and topple some of the largest cryptocurrencies in the market.
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