Animoca Brands Launches ApeCoin Accelerator Program via Forj

• 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

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.

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.

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.

Why This Matters

Blockchain accelerator initiatives benefit in improving the capabilities of blockchain technology.

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