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    Home » Crypto News » Nexo Integrates ApeCoin (APE) Into its Yield Platform

    Nexo Integrates ApeCoin (APE) Into its Yield Platform

    Author: Jordan Lyanchev

    Last Updated Mar 29, 2022 @ 12:54

    Nexo has announced the addition of ApeCoin into its yield program, offering up to 12% ROI.

    The cryptocurrency company offering loans and daily digital asset earnings will integrate ApeCoin into its platform. The firm promised a yearly ROI of between 7-12%, depending on the customers’ loyalty tier.

    Nexo Integrates ApeCoin

    The press release seen by CryptoPotato reads that Nexo wants to capitalize on Yuga Labs’ (the entity behind BAYC) future plans by introducing the recently-launched cryptocurrency to its yield platform.

    Depending on the loyalty tiers, users will be able to get up to 12% ROI on the amount of APE they have deposited on Nexo. All rates are as follows:

    • Platinum: Maximum rate – 12%. Standard rate – 9%.
    • Gold: Maximum rate – 10%. Standard rate – 8%.
    • Silver: Maximum rate – 8.75%. Standard rate – 7.5%.
    • Base: Maximum rate – 8%. Standard rate – 7%.

    ApeCoin is already available on Nexo, and users can buy, top-up, earn on, swap, and borrow against. Upon purchasing the asset, the firm promised to give up to 0.5% cashback on each transaction. It also said it wouldn’t charge any fees when transferring APE to the Nexo platform.

    Nexo has enabled six trading pairs for APE, including against BTC, USDT, USDC, USDx, EURx, and GBPx.

    ADVERTISEMENT

    ApeCoin’s Birth and Ascent

    The Bored Ape Yacht Club became arguably the most talked-about and popular NFT collection, with various celebrities purchasing such digital collectibles and putting them as Twitter profile pictures. Some of those names include the legendary hip hop artist – Eminem, tennis player Serena Williams, Justin Bieber, Neymar, and Madonna.

    All of those examples were sold for hundreds of thousands of dollars worth of ETH. The floor price as of now is 106.5 ETH – around $370,000.

    Snoop Dogg went even further and launched Bored Ape-themed music as NFTs after collaborating with fellow rapper Wiz Khalifa.

    Somewhat expectedly, Yuga Labs, the team behind the project, decided to launch a native cryptocurrency in mid-March that attracted even more people as a certain portion of the total supply was airdropped to BAYC holders.

    With a price tag of around $15 as of now, ApeCoin quickly found a place within the largest 100 coins by market cap. It was also listed on multiple leading crypto exchanges, such as Binance, and the latest integration by Nexo shows the substantial growth experienced just weeks after it saw the light of day.

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    You Might Also Like:

    • Serena Williams Joins BAYC: Gets a Bored Ape NFT
    • bayc_cover
      Bored Ape Yach Club (BAYC) Floor Price Crashes 30% Following APE Coin Claim
    • bieber
      Justin Bieber Buys a Bored Ape NFT for $1.3 Million (500 ETH)
    Tags: Bored Ape Yacht Club (BAYC) Non-Fungible Token (NFT)
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    About The Author

    Jordan Lyanchev
    More posts by this author

    Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

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