Animoca Brands Launches ApeCoin Accelerator Program via Forj

Gaming giant Animoca’s daughter brand forges an ApeCoin incubator for auspicious builders.

by Tadas Klimasevskis. Fact checked by: Ciaran Lawler, Editor: Stefan Trapp

Published: October 17, 2023 │ 4:45 PM GMT

Bored Ape doing tricks on a FORJ Jet — *Created by Kornelija Poderskytė from DailyCoin*

APE community passes AIP-209 proposal to build APE Accelerator.
ApeCoin DAO’s $APE jumped 7% following the announcement.
Crypto whales react with large moves, including long positions.

Animoca’s Forj, a community-based learning management system owned and operated by Animoca Brands, shook hands with ApeCoin DAO to open APE Accelerator. The brand-new innovation hub provides valuable information and power-ups for builders.

Notably, ApeCoin’s decentralized autonomous organization (DAO) funded APE Accelerator’s launchpad after the Bored Ape community voted to pass the proposal (AIP-209).

AIP-209 delegated Forj to build the new project incubator, presented to the public in a tweet by Forj’s Harry Liu. The five-second video clip urges developers to check out the new dedicated innovation accelerator website, while Liu highlights three advantages of Ape Accelerator:

The latest developer tools
Industry leader expertise
Launchpad based on $APE

Welcome to #APEAccelerator, a new member of the @apecoin ecosystem.

Funded by the ApeCoin DAO, built by @ForjOfficial, we're the innovation hub for $APE holders.

Offering:
⚡️ Access to industry leaders.
⚡️ $APE powered launchpad
⚡️ Supercharged growth tools.

Are you ready?! pic.twitter.com/JuvxvDQknl
— $APE Accelerator (@ApeAccelerator) October 16, 2023

ApeCoin Inks 7% on APE Accelerator Launch

In addition to the 9.33% ricochet from its all-time lows, $APE now effectuates a bullish concentration on-chain signal. This means that crypto whales are on alert again – blockchain smart money tracker LookOnChain spotted a whale cashing out $1.49 million in $APE.

A whale withdrew 1.37M $APE($1.49M) at $1.09 from #Binance 40 mins ago.

The whale also bought 543,979 $APE($2.33M at the time, and lost ~$1.74M currently) at an average price of $4.28 from #Binance and DEX from Jan 24 to May 8.https://t.co/gizwpl0i1F pic.twitter.com/Hhg7hnTAEo
— Lookonchain (@lookonchain) October 17, 2023

Following the news, ApeCoin gained 4.3% in the last 24 hours, equalling the score in the monthly charts. APE was trading in a descending parallel channel throughout September and October but bounced back from its all-time lows at $1.01, hit on October 10, 2023.

Interestingly, the crypto whale accumulated APE between January and May at an average price of $4.28, buying large chunks from Binance and several decentralized crypto exchanges. Meanwhile, pro-crypto trader BNB Bull declared a long position on $APE after years of shorting the monkey-themed memecoin from its nearly all-time high at $25.

I shorted $Ape from 25 dollars. I guess it's time to Long it with size. And sleep on that position for atleast 6x. Dead Cat bounce is much needed on this one. https://t.co/uYG1BQ2MJR pic.twitter.com/DMRibfKzZY
— Bull.BnB (@bull_bnb) October 17, 2023

On the Flipside

The all-time high set at $26.70 was mostly due to the success of the Bored Ape Yacht Club NFT collection.
The blue-chip NFT collection gathered a vast community of crypto enthusiasts, but the Web3 giant Yuga Labs eventually disassociated with the token, leaving the governance up to ApeCoin DAO’s hands.