ApeCoin Forecast: Ape Holders Invest in Rival NFT Game Calvaria’s RIA Token

The price of ApeCoin has fallen by more than 16% this month, at $4.50, following the announcement that Yuga Labs, the $4 billion behind the Bored Ape Yacht Club, is being investigated by the Securities and Exchange Commission (SEC).

According to a Bloomberg report citing an unnamed source, the SEC is investigating allegations that the company’s NFTs violated title registration standards.

ApeCoin under pressure after SEC investigation

the Bored Ape Yacht Club is a very successful NFT initiative, with the main collection of 10,000 NFTs having sold for $190 Ethereum when launched. the total profit from this sale for Yuga is approximately $1.9 million. The project’s subsequent releases and developments, namely the Mutant Ape Yacht Club and the Otherside metaverse game, reported respectively 96 and 319 million dollars.

the BAYC’s secondary market saw a volume of approximately $2.5 billionas reported CryptoSlam. Additionally, $3.35 billion was traded on Mutant Ape Yacht Club and Otherside secondary markets. Each of these transactions generates a 2.5% royalty payment to Yuga Labs.

Bored Ape NFT owners have access to a private community and live events, and they can use the artwork they own to create and sell their derivative artwork. Many NFTs have sold for seven figuresand the growing awareness of the project has attracted several celebrity buyers.

Bloomberg reported on October 11 that the SEC was investigating Yuga Labs to determine whether the sale of certain digital assets violated federal regulations and whether certain NFTs were “more equity-like.”

Therefore, the Securities and Exchange Commission (SEC) has announcement what would investigate Yuga Labs about allegations that the NFT BAYC and ApeCoin would be undeclared securities.

The news caused a 10% depreciation of ApeCoin and could result in additional losses for holders of Yuga Labs assets. In the meantime, it looks like Yuga Labs is trying to stay positive.

ApeCoin Price Prediction

the current price of ApeCoin is $4.49, with a 24-hour trading volume of $94 million. In the previous 24 hours, ApeCoin gained more than 0.50%. CoinMarketCap now ranks it 37th, with a live market cap of $1.3 billion.

ApeCoin Forecast Ape Holders Invest in Rival NFT Game Calvarias
ApeCoin price and tokenomics – Source: coinmarketcap

There is currently 306,875,000 APE tokens in circulation, with total supply of 1,000,000,000 APE tokens available. The APE/USD pair is currently facing immediate resistance at $4.5, and candle closes below this level imply the likelihood of a negative correction.

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APE price chart – Source: Tradingview

The downtrend line functions as major support on the 4-hour chart, and a break below it could take the APE towards $4.20 or $4. A bullish break above $4.60 could push the APE towards $4.80 or $5. So let’s watch $4.60 to see what happens next.

Buyers are flocking to rival NFT game Calvaria’s RIA token

Investors seek alternative investments as ApeCoin faces SEC investigation. Calvaria seems to be in competition with APE, and it could be one of the projects to invest in.

Launched recently, Calvaria is similar to other games of the same genre in that it allows players toacquire and exchange cardsas well as engage in virtual fights with each other. The game emphasizes player accessibility by being available through desktop and mobile app stores.

The players don’t have no need to own a wallet, cryptocurrencies or other assets to start playing. This means that even people with minimal cryptography knowledge can participate.

The availability of a version Free-to-Play and a version Play-to-Earn of the game, however, is the main factor that makes it accessible. This makes it easier for people who are not yet familiar with cryptocurrencies to get started.

Not only they are developing a game for the cryptocurrency market but also for the traditional gaming sector, which is very fascinating. This should make it easier to take into account some of the notions and knowledge acquired in the Calvaria P2E crypto game.

Players earn and upgrade their cards to prepare for war in the afterlife. The different groups in the universe have their own visual style, which is reflected in the characters they use.

Despite the bright future of the P2E market, there is a pressing need for differentiation between vendors. Calvaria achieves this by making P2E gaming available to users who don’t have cryptocurrencies or who don’t care.

The first step of the presale is online!

The first phase of the Calvaria presale is now live, with an increase of 19%. On the goal of 300,000USDTthe network has already raised more than 59,000 USDT.

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Calvaria presale – Source: calvaria.io

Currently, 1 USDT equals 100 RIA, but in phase 2 the price will change to 1 USDT = 80 RIA. So hurry up to collect your tokens.

Read it White Book available on the Calvaria website for more information.

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ApeCoin Forecast: Ape Holders Invest in Rival NFT Game Calvaria’s RIA Token

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