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The new class action lawsuit aims to help BAYC and APE buyers get compensation from Yuga Labs due to the firm allegedly misleading investors. Troubled cryptocurrency fintech Yuga Labs is about to face more lawsuits in relation to its nonfungible tokens (NFT) collection, Bored Ape Yacht Club (BAYC) and other projects. Rosen Law Firm, a global law firm focused on investor rights’ protection, announced on Jan. 30 that it’s planning to file a class action lawsuit against Yuga Labs.  Rosen invited purchasers of Yuga securities — including BAYC NFTs and the native token ApeCoin (APE) — to join the class action against Yuga by the lead plaintiff deadline set for Feb. 7. The Law firm emphasized that Yuga securities’ investor s that bought BAYC and APE between April 23, 2021, and Dec. 8, 2022, may be entitled to compensation without payment of any additional costs through a contingency fee arrangement. The new case targets a large number of defendants, including Yuga Labs co-founder Wylie Ar...

Before its recent rally, ApeCoin (APE) was one of the worst-performing tokens, losing as much as 60% of its value in November. According to LookOnChain, the decline was caused by the project’s treasury selling its APE reserves. As per the Twitter user, the “ApeCoin treasury has been selling APE in small amounts.” On-chain data shows that ApeCoin Treasury has been selling $APE in small amounts. 1.🧵 Here are some of our findings. — Lookonchain (@lookonchain) November 30, 2022 As per the user, over 4.6 million APE tokens, worth roughly $19.7 million, have been removed from the Treasury’s wallet. The user noted that 4,552,447 APE was sent to the address “0x876c,” and 47,552 APE was sent to the address “0xa29d”. According to LookOnChain, 5 ApeCoin Treasury wallets sent APE tokens to Coinbase, Binance, FTX, and KuCoin through the address “0xa29d” for sale. Such a complex plan could have been utilized to cov...

DOGE, LTC, LINK and APE are showing signs of buying even as Bitcoin’s next directional move remains uncertain. Bitcoin (BTC) has been trading in a tight range since Thanksgiving Nov. 24, as traders are uncertain about the next directional move. Usually, in a bear market, analysts tend to become uber-bearish and project targets that tend to scare away investors. The failure of Bitcoin to start a strong recovery has given rise to several bearish targets, which extend up to $6,000 on the downside. Although anything is possible in a bear market, traders who have a long-term view could try to accumulate fundamentally strong coins in several tranches. Because a bottom will only be confirmed in hindsight and trying to time it is usually a futile exercise. Crypto market data daily view. Source: Coin360 In a bear market, all coins do not bottom at the same time. Hence, along with keeping an eye on the broader cryptocurrency market, traders should closely follow the coins of their choice. The ...