What Is ApeCoin? Features, Tokenomics and Price Prediction

ApeCoin is an ERC-20 utility token that powers the ApeCoin DAO, a decentralized autonomous organization that governs the ApeCoin ecosystem. The APE ecosystem includes the Bored Ape Yacht Club (BAYC) NFT collection, the Mutant Ape Yacht what is apecoin Club (MAYC) NFT collection, the Bored Ape Kennel Club (BAKC) NFT collection, and the Otherside metaverse project. Ethereum is a decentralized platform that enables developers to build decentralized applications (DApps) and smart contracts and keeps the ApeCoin network secured. ApeCoin leverages the Ethereum blockchain to support its conservation efforts and enable secure, transparent transactions.

• Just share your APE wallet address with the person sending the token.
• APE DAO’s activities are focused around Web3 and decentralized applications.
• ApeCoin (APE) is an ERC-20 governance and utility token that serves a variety of functions within the APE ecosystem, which is made up of individual token holders and the products and services utilizing the token.
• It’s also used by a number of developers outside of the APE ecosystem, such as play-to-earn (P2E) game Benji Bananas by Animoca Brands, which uses ApeCoin to incentivize and reward players.
• According to CoinGecko, ApeCoin is ranked 15th in top NFT coins by market capitalization.
• ApeCoin stands out in the crowded cryptocurrency market due to its unique features and benefits.

Step 4: Securely store your ApeCoin in your personal wallet

In conclusion, whether you should buy ApeCoin ultimately depends on your individual financial https://www.xcritical.com/ situation, goals, and risk tolerance. It’s important to do your own research, consider the potential risks and rewards, and make an informed decision before investing. Overall, the factors contributing to ApeCoin’s decline are complex and multifaceted. It is important for investors to conduct their own research and due diligence before making any investment decisions in the cryptocurrency market. The token has experienced both significant price spikes and prolonged price dips.

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At the time of writing, APE is trading for around $14.58, with a market capitalization of over $480 million. While purchasing ApeCoin on a crypto exchange is arguably the simplest option, you could also purchase APE on a peer-to-peer (P2P) exchange or a decentralized exchange (DEX). The token also exists to incentivize third-party developers to participate in the APE ecosystem by building applications that incorporate ApeCoin. Since its launch, ApeCoin has experienced both upward and downward trends in value. In April 2021, ApeCoin’s price saw a significant surge, reaching its all-time high. The price later experienced a correction, and it has been volatile ever since.

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According to the official ApeCoin homepage, Yuga Labs has a contributor role within the $APE ecosystem. The Ape Foundation Board includes Reddit co-founder Alexis Ohanian, Yat Siu of developer and venture capital group Animoca Brands, and FTX investor Amy Wu, among others. Their role is to ensure the implementation of decisions made by the ApeDAO, which is governed by holders of the APE token.

What Is ApeCoin? Features, Tokenomics and Price Prediction

Having said that, DEXs are unregulated, and there is no customer protection if funds are lost due to hacks. Cryptocurrency experts typically advise investors against leaving funds on a centralized exchange because exchange bankruptcies can lead to a complete loss of assets held with the company. Crypto exchanges typically require you to make a minimum deposit, ranging from $10 to $20. However, there are a handful of trading apps that allow you to purchase crypto for as little as $1. Once you have funded your account, you click on ApeCoin in the list of tradable assets and place an order to buy the amount of APE you would like to purchase. Verify that all the order details are correct and confirm the transaction.

How Many ApeCoin (APE) Tokens Are There?

Decentralized exchanges are smart contract-powered online trading platforms that enable users to trade crypto on a peer-to-peer basis without the need for a central authority. When it comes to investing in any cryptocurrency, it’s important to do your own research and make an informed decision based on your financial goals and risk tolerance. ApeCoin (APE) is a relatively new cryptocurrency that has generated a lot of buzz in the crypto community. As with any investment, there are both potential risks and rewards to consider before making a decision to buy ApeCoin.

How Does the Price Performance of ApeCoin Compare Against Other Cryptos?

It also acts as a tool in which third-party developers can tap into the Ape Ecosystem by incorporating APE into their own projects, games, and services. External developers use ApeCoin to play a role in the ecosystem and incorporate the token into their services, games, and various projects. For example, in Animoca Brands’ Benji Bananas, a play-to-earn (P2E) mobile game, the coin is used as an incentive for players. They can earn special tokens while playing and exchange these tokens for ApeCoin. ApeCoin can be classified as a fungible token investment into the NFT ecosystem. According to CoinGecko, ApeCoin is ranked 15th in top NFT coins by market capitalization.

Does ApeCoin (APE) Have an Online Community?

The founding roots of ApeCoin lie in the NFT series Bored Ape Yacht Club (BAYC), a creation by Web3 company Yuga Labs. Yuga Labs owns the NFT collections CryptoPunks and Bored Ape Yacht Club, which are among the most well-known brands in the NFT market. Bored Ape Yacht Club also played a central role in the launch of ApeCoin. Anyone who owned an NFT from Bored Ape Yacht Club collections at the launch date of ApeCoin received a predefined amount of ApeCoin for free. Something about Yuga Labs’ great influence in the cryptocurrency market is the fact that ApeCoin was simultaneously listed on every major cryptocurrency trading service in the world upon its launch.

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Threshold key signature (TSS) cryptography is backed by 3-factor authentication and advanced facial recognition software. So even if your phone goes missing, Zengo’s features guarantee the recovery of your assets. No, there is no way to mine APE as the supply is permanently fixed, and there are no smart contracts that can mint APE.

Enjoying viral success and arguably one of the most successful NFT collections to date, the 10,000 unique BAYC cartoon drawings earned cult status when their prices soared and big celebrities started buying them. To date, the most expensive BAYC NFT sold for a staggering $3.4 million. Since its launch, ApeCoin APE has grown into one of the world’s leading digital currency platforms, praised for its user-friendly interface and robust security measures. ApeCoin operates on the Ethereum blockchain and utilizes smart contracts for processing transactions. The goal of ApeCoin is to engage with meme culture and provide investors with a new and amusing way to manage their wealth.

Currently, the supply of APE in circulation is approximately 368.6 million, or 37% of the total. The current market capitalization of ApeCoin is approximately USD$2.15 billion. 👔The Ape Foundation Board includes Reddit co-founder, Aliexis Ohanian, and Yat Siu of developer and venture capital group, Animoca Brands. The Board’s role is to ensure the implementation of decisions made by the ApeDAO, which is governed by APE token holders. In previous blog articles, we’ve covered a broad view of cryptocurrency and offered a closer look at Bitcoin, Ethereum and several other memecoins such as Dogecoin and Shiba Inu.

While it is still too early to speculate on the potential growth of ApeCoin, the community is proactively engaging in the NFT space and have opened to doors for integration on other decentralised platforms. As prefaced above, ApeCoin has been designed with the future in mind. Focusing on evolution of Web3 and blockchain technology to facilitate art, entertainment, gaming, and many more possibilities beyond. The purpose of the ApeCoin DAO is to facilitate and support the community-led proposals and ideas to become a reality for the holders. APE was launched by the ApeCoin DAO, a decentralised autonomous organisation (DAO) that acts as a governing body in which all ApeCoin holders are members.

In the first few months of its launch, ApeCoin experienced a rapid price increase, reaching its all-time high in a short time frame. However, the token’s value later dropped significantly due to market fluctuations and the broader crypto market’s bearish sentiment. Whether or not ApeCoin is a good investment depends on your individual investment goals and risk tolerance. ApeCoin is a volatile asset, and its price can fluctuate significantly. However, ApeCoin has a strong utility proposition and is backed by a strong community. If you are bullish on the future of the ApeCoin ecosystem, then ApeCoin may be a good investment for you.