ApeCoin (APE) has been on the road to recovery since the last two months. According to CoinGecko, the token gained over 13% in the past month, ending the year on the spot with other gainers. But the token has depreciated by almost 5% in the past 24 hours, and trading at $3.96. This might set a precedent to what can happen in the next few weeks. Related Reading: Cronos (CRO) Up 4% In Last Week Amid Recession Fears NFTs, Macros And What It Means For ApeCoin Recent events in the NFT space might have an effect on the already dwindling interest in nonfungible tokens. First, Nikhail Gopalani, COO of RTFKT, got his NFT collection phished from him. According to publicly available information, the total stolen was $173,000. The next hack happened on January 4, when CryptoNovo lost over $618,000 worth of NFTs. This along with dwindling interest in NFTs will certainly have an effect on APE’s price. But with the token being part of the Bored Ape Yacht Club ecosystem, the effect might be dampened. Lately, however, the token has been highly corre ..
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