During the European session, the ApeCoin is trading sharply bullish, having surged nearly 17% in the last 24 hours. APE is the native coin of the ApeCoin decentralized autonomous organization (DAO), a community-driven initiative created to guide the expansion and development of the Bored Ape ecosystem.

Holders of the Bored Ape NFT lineup received the tokens via an airdrop following the launch in March. Measures have been taken by the ApeCoin Decentralized Autonomous Organization (DAO) to create a decentralized NFT marketplace powered by APE.

As the first token unlock approaches, members of the ApeCoin community are voting on several suggestions to increase the token's utility.

ApeCoin's current price is $5.52, with a 24-hour trading volume of $435,475,762. The APE/USD pair started trading at $4.6, and its value fluctuated from $4.66 and $5.72 on a given day.

ApeCoin has increased by around 17% in the last 24 hours. CoinMarketCap currently ranks #34 with a live market cap of $1,694,029,728. There are 306,875,000 APE coins in circulation, with a maximum supply of 1,000,000,000.

All previously submitted suggestions were voted on as of press time. However, you may recall that three organizations had offered suggestions for creating a market for the Bored Ape Yacht Club.

What's the current state of affairs now that voting has begun?

If approved, Magic Eden will set up an exchange where ApeCoin owners can trade all ApeCoin DAO NFTs, including Bored Apes, Mutant Apes, Bored Kennels, and Otherdeeds. However, recent results indicate that the MagicEden concept is failing.

At the time of writing, the APE community had overwhelmingly voted against it; only 34.54% of voters approved the proposal, while 65.46% opposed it. However, the