Of Highs And Lows: Bitcoin Trading Fees Spike & Uniswap Deflates As Ape Brigade Gears For Launch

The post Of Highs And Lows: Bitcoin Trading Fees Spike & Uniswap Deflates As Ape Brigade Gears For Launch appeared first on Coinpedia Fintech News

Amidst new development and disruption, the crypto market is not short of highs and lows. Uniswap has been in the hands of bears for some time now while the trading fees on the Bitcoin network have skyrocketed. 

Meanwhile, brand new meme coin Ape Brigade (APES) is preparing to take over the market after its launch, and we have good reason to think they might do it! Read on to know more.

Bitcoin Trading Fees Soar

Details from the financial research platform YCharts reveal that the transaction fees for the Bitcoin network have increased beyond $30. Currently standing at $30.91, the fees are now almost 15 times higher than the modest $2.95 at the beginning of the month. This has caught the attention of exchanges like Binance and Coinbase, which are considering enabling the Lightning Network: the latter has famously affordable and quick transactions. 

The hike in Bitcoin’s trading fees is probably due to the introduction of the BRC-20 tokens. Launched as an experimental endeavor in March 2023, the BRC-20 token has given investors a chance to trade fungible assets that are within the Ordinals protocol. 

This has also allowed the creation of meme coins that include PEPE, which has become increasingly popular recently. Trading of these meme coins puts pressure on the Bitcoin network, making transactions slower and more expensive. However, some think these surges will soon fall back.

Uniswap Drops Amid Bearish Pressure

The market value for Uniswap’s native token UNI has experienced a significant drop, and its current trading price against the US dollar is $4.98, showing an 8.42% decrease in the past 24 hours. The coin is facing strong bearish as well as bullish pressures, with the former taking a bigger toll on the UNI/USD pair. UNI is currently trading below the resistance level of $5.10, indicating a potential downside in the future. 

Many cryptocurrencies are experiencing bearish market pressure and even the top coins like Bitcoin and Ethereum are not immune to this trend. Uniswap has also been affected by the bearish market trend, as the UNI/USD pair dropped to $4.98 after being at a resistance level of $5.10.

Ape Brigade Preps for Launch

Meanwhile, a brand new meme coin is looking to enter the crypto market space. Ape Brigade (APES) is approaching its launch by the minute, but first, they want to build a strong community while running their presale.

APES has a bunch of benefits for its community: as an ERC-20 token that operates on the Ethereum blockchain, it is secure, transparent, and accessible to anyone that has an internet connection. Plus, they have an NFT Space in the wings, which will be a crucial part of their ecosystem. 

It would be wrong to not talk about their staking rewards system. It is a fair and transparent arrangement that takes into account the amount of APES staked and the time they have been staked for, to give users a chance to win rewards. It’s that simple. 15% of the total supply of the coin is reserved just for staking rewards while 20% of it will be locked in a liquidity pool, providing liquidity and stability to the token.

At the heart of the Ape Team is a community that is passionate about animals, especially apes. The coin focuses on supporting and raising awareness about efforts to save apes and other wildlife. This is exactly why 10% of the total supply is reserved specifically for this cause. 

It’s not often that we find cryptocurrencies that want to bring about a good change in the world, do we? It suffices to say that APES is not monkeying around!

Find out more about Ape Brigade (APES):

Presale: https://apebrigade.io/how-to-buy  

Website: https://apebrigade.io/

Telegram: https://t.me/ApeBrigadeOfficial