⚠ Trading cryptocurrencies involves risk, and may not be suitable for all investors. Cryptocurrency prices can be volatile and unpredictable, and may be influenced by various factors, including market manipulation, regulatory changes, and technological developments. X2,x10, etc. means if the price of APEcoin (APE) will multiply by x2,x10, etc how much market cap it will have, and how it will compare then to the same coins.
Apart from regular battles, the platform offers more extensive, exciting battles with significant cash awards for the winners. Blockchain and AI-powered fight outcomes guarantee players equal and fair opportunities. Yuga Labs is a contributor to the APE Ecosystem and will assist in the creation
of products and experiences for the ecosystem as a whole.
José is a copywriter and journalist with over 4 years of experience in the crypto field. He started his career in 2017 amid the Bitcoin and the cryptocurrency boom, and he hasn’t turned his back on the industry since then. ApeCoin’s success will depend on several factors here, such as how well the DAO and the APE Foundation develop the ecosystem and how Yuga Labs manages to attract a bigger audience and projects into the Otherside metaverse. APE is available for purchase on a variety of exchanges, most popularly Coinbase, Binance, Kraken, or Huobi. ApeCoin debuted on March 17, 2022, highly anticipated by the Bored Ape and the NFT community in general. During its first days of trading, APE experienced massive volatility, reaching a high of $39.40 in just five minutes after going public, then dropping 80% the next day.
ApeCoin’s supply is fixed at 1 billion APE, meaning tokens cannot be mined or burned. APE is poised to be deeply integrated with Yuga Labs’ metaverse project, Otherside, where it could be used for any transaction within the environment. If Otherside eventually incorporates a P2E mechanic, APE could be given as rewards to players. Mutant Ape Yacht Club (MAYC) is an NFT collection of up to 20,000 mutated versions of the original BAYC Apes.
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. 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 first thing you need to do if you are looking to buy ApeCoin is to sign up for an exchange that supports the cryptocurrency. Currently, Binance, Coinbase, and Kraken are among the largest exchanges supporting APE. The Bored Ape Yacht Club (BAYC) is a highly popular NFT collection composed of 10,000 unique images of cartoon apes.
What’s more, the Bored Ape Yacht Club (BAYC) digital collectibles live on the Ethereum blockchain. Aside from that, several stablecoins run on the Ethereum Network and can be paired with APE during bearish seasons. Despite the achievements of Algorand, Avalanche, Binance Smart Chain, and the TRON network in the last two years, Ethereum is still the go-to blockchain for the creation of smart contracts. It is extremely rare to see a digital asset gain such mileage within a short period.
Yuga Labs, launch contributors, and BAYC’s founders will not “unlock” their ApeCoin crypto allocations for at least a year, meaning they cannot sell during that time. Furthermore, ApeCoin will facilitate web3 in the APE network, allowing creators to sell their digital artworks and various industries, including games, entertainment, and events. To some extent, Yuga Labs’ BAYC project inspired the decentralized ApeCoin idea. ApeCoin is the native cryptocurrency for the ecosystem and also serves as the governance token.
From its inception, the firm enjoyed widespread public and financial backing from prominent figures in the video game industry. The Sandbox, released in 2011, is a virtual environment powered by the blockchain that lets players develop their own virtual goods and trade them with other players. The team behind the project is now developing the upcoming Ordinals NFT collection, generating intense competition for whitelist spots as only 420 units will be available for minting. The third model is the Trade-to-Earn model where users will get a share of profit when they participate in trade in the Chimpzee’s NFT marketplace. Investors have access to staking, passive income streams, an affiliate program, high-roller prizes, and a growing community. These are in addition to the wide range of games without needing KYC and a realistic casino environment.
The ApeCoin ecosystem is made up of individual token holders, as well as a wide range of products and services that are using the cryptocurrency. Chief among its ecosystem members is Yuga Labs itself, which has adopted APE as the primary token for its projects. Third-party developers use ApeCoin to play a role in the ecosystem and incorporate the token into their services, games and various projects. For instance, in Animoca Brands’ Benji Bananas, a play-to-earn (P2E) mobile game, the coin is adopted as an incentive for players. They will be able to earn special tokens when playing and swap these tokens for ApeCoin.
The token entered a consolidation phase, fluctuating between $10 to $12 apiece. The DAO handles critical matters in the ApeCoin ecosystem, such as how many funds are allocated to the Treasury, setting up or changing rules, verifying and selecting what projects are coming in, forming partnerships, etc. ApeCoin DAO is the community in charge of governing the entire ApeCoin ecosystem. Each member of the DAO has the right to submit or vote on protocol proposals and basically participate in all things related to the ecosystem. You are eligible to become a member by simply holding ApeCoin in your wallet.
In a market of more than 18,500 tokens, it is extremely impressive to see ApeCoin maintain its trading volume range. On Ethereum, there are decentralized exchanges such as Uniswap and SushiSwap which list the token for trading. In addition to decentralized finance projects, APE’s market capitalization makes the project more valuable than several centralized finance companies. It helps investors predict the future performance of an asset since it reflects what the market is willing to pay for a particular coin. In less than one month, the coin has brought more than 1,200% gains to early investors.
APE is intended to be utilized as a utility token—or currency—in web3 applications like games and metaverse environments and in network governance. It’s intended to serve as a decentralized token for various community-led initiatives. Not all ApeCoins are in circulation; this phenomenon is known as “locked” tokens.
In the future, they plan to add support for additional asset types, such as real-world assets and fiat currencies. They also hope to make the system even more user-friendly and easy to use. It provides a much-needed solution for investing in NFTs and has a strong community behind it. With its roadmap and plans for the future, ApeCoin is one to watch out for. The project was developed in response to the growing interest in NFTs and the lack of options for investing in them.