ApeCoinAPEThe governance token for the Bored Ape Yacht Club NFT Project (BAYC), was dropped to owners of BAYC (BAYC), and Mutant Ape Yacht Clubs (MAYC) on March 17. Eight hours later, APE jumped to the 110th most traded token ranked by CoinGecko. It now trades in excess of $900 million across all platforms.

The price of APE dropped 80% in the first few minutes following the airdrop, as one might expect. It begs the question whether a BAYC or MAYC owner would have been able to sell APE for $40 rather than $14 as it currently trades at the time this article is being published.