ApeCoin risks 30% crash after APE staking debut in December
ApeCoin price has rallied 50% in the last three weeks but a sell-the-news event risks wiping out those gains. The multi-week ApeCoin (APE) market rally is nearing exhaustion owing to a mix of technical and fundamental factors. Fundamental — ApeCoin Staking launch In the past two weeks, APE's price is up over 50% after bottoming at around $2.60. The APE/USD rebound came in line with similar recovery moves elsewhere in the crypto market. But, it outperformed top assets, including Bitcoin (BTC) and Ether (ETH), as traders pinned their hopes on ApeCoin's staking debut. The ApeCoin Staking feature will debut on Dec. 5 at apestake.io, according to its developer Horizon Labs. It will allow users to lock their APE holdings into four Staking pools — ApeCoin pool, BAYC pool, MAYC pool, and Paired pool — that will allow them to earn yield periodically. The feature announcement has resulted in a rise in the APE holders' count, according to data tracked by Dune Analytics. Notably, it...