What Is ApeCoin? How Does APE Work? How To Buy And Store In 2023

Some of the largest exchanges, such asBinance, Coinbase, FTX, Huobi, KuCoin, Bybit, Kraken, and others, have already traded and listed APE. ApeCoin DAO exists because decentralized governance is essential for establishing and sustaining https://xcritical.com/ a globally distributed community. It is responsible for day-to-day administration, bookkeeping, project management, and other duties that ensure the ApeCoin DAO community’s ideas get the support they need to manifest into reality.

The technology and cryptocurrency communities are represented by five members of the APE Board. The ApeCoin’s parent platform, the Bored Ape Yacht Club , has had a strong start from the beginning and all the way into 2022. This will certainly benefit the value of ApeCoin, as the BAYC’s already successful non-fungible token collection and community platform is helping raise its profile and investment and partnership opportunities. The recent collapse of crypto exchange FTX highlighted this risk when billions of dollars in user funds were lost.

Where To Buy APE Coin?

Investments are subject to market risk, including the loss of principal. Following the enormous success of BAYC NFTs and the demand that accompanied them, Yugalabs introduced the Mutant Apes as a variant of the BAYC. In addition to the 10,000 BAYC NFTs, Yugalabs released 20,000 MAYC NFT collectibles. Of these, half were sold in a public auction, while the rest were created by BAYC holders, who “exposed” their Bored Apes to airdropped “mutant serum,” which added new attributes to their Bored Apes. At the request of ApeCoin DAO members, a special council on the APE Foundation, “the Board,” was established.

ApeCoin has recently captured the public’s attention like many other memecoins. However, unlike Dogecoin or Shiba Inu, ApeCoin might actually provide some real utility and be here for the long haul. Depending on your mood and choice, you can choose these apes down to the tiniest details. Investors across the world have put their money into these artworks and the buyers include the likes of Justin Bieber and Eminem.

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Thanks to its adaptability, ApeCoin could become a crypto used across many blockchains and platforms, potentially bringing more unity to the space and more value to itself and its ecosystem. This may be a very new cryptocurrency, but it’s undeniably one to watch. Traders and speculators betting on momentum-driven rallies in either direction may view these three digital currencies as a way to play these trends over the short term. For investors, ApeCoin provides investment exposure to the Web3 ecosystem built on the Bored Ape brand. It has also enjoyed a consistent position in the top 100 coins by market cap since its inception. Like every other cryptocurrency token, ApeCoin can be transferred between users, businesses, and institutions.

Yuga Labs is a cryptocurrency and NFT development and marketing firm. It is most known for creating Bored Ape Yacht Club, an Ethereum-based collection of unique Bored Ape NFTs. Amonicabrands is the first recorded project to take this path with the integration of ApeCoin into its gameFi platform. Amonicabrands’Benji Bananas decentralized game rewards players with in-game tokens that can be exchanged for ApeCoin.

Launch Contributors

If these support levels are broken, then a further decline in price could be seen, with the next major retracement level being at $2.4. ApeCoin also plans to use the APE ecosystem to create digital gaming, entertainment, and art. Bored Ape Kennel Club is a collection of dog NFTs that were made available to every single member of the BAYC. For each Bored Ape NFT they own, holders could “adopt” a random Club Dog NFT for free, only paying a gas fee.

Although staking information was released a few months ago, the mechanism is still not accessible to the public. If ApeCoin’s creators can establish partnerships with more high-profile gaming projects, this will create demand for APE that isn’t simply speculative. Our ApeCoin price prediction for 2024 is a minimum value of $9.93 and an average price of $9.14.ApeCoin’s price could surge to a maximum price of $10.33. The price of Apecoin is trading below all the moving averages, which may indicate a bearish outlook in the near future.

• The recent collapse of crypto exchange FTX highlighted this risk when billions of dollars in user funds were lost.
• VERSE will enable anyone to receive rewards for buying, selling, spending, swapping, and staying informed about crypto.
• Our mission is to create economic freedom, which we define as the ability for individuals to freely acquire and use personal resources however they choose.
• Yuga Labs – Yuga Labs is a web3 company best known for the creation of the Bored Ape Yacht Club.
• The APE price prediction for 2029 is the APE token to trade at a minimum price of $58.34 and an average price of $60.36.
• While the Bored Ape Yacht Club is a non-fungible token collection that comprises 10,000 images of apes, APE is a fungible ERC-20 token with a maximum supply of 10 billion.

These meme tokens tend to see outsize moves on market volatility, which has been high of late. It’s the main purpose of the token, as it empowers holders to participate in the DAO. The tokens surged and sank as new features in the Bored Ape Yacht Club ecosystem went live. Crypto market capitalization regained the $1 trillion mark early on Monday, up from around $800 million in June.

ApeCoin Price Prediction: ApeCoin Price May Explode

Prices fluctuate, but individual pieces in the series sell for a minimum of $130,000 as of this writing, with a ceiling well above $1 million. Since 2015, Bitcoin.com has been a global leader in introducing newcomers to cryptocurrency. Our mission is to create economic freedom, which we define as the ability for individuals to freely acquire and use personal resources however they choose. We build products and services that give everyday people access to a vast world of opportunities to generate personal prosperity without limits.

Other projects joining the ApeCoin ecosystem will also be expected to follow a similar pattern. Sequel to the successful fundraiser program, Yugalabs has commenced the development exercise for Otherside. Otherside is a gamified, interoperable metaverse being developed by the same team that nurtured BAYC and MAYC NFTs to prominence.

With the different tiers of serum they received, BAYC holders could create different types of mutant Apes. Each BAYC can only generate a single mutant from a single serum type, and the serum disappears after use. Let’s look at the NFT collections that what is apecoin are related to the APE ecosystem. This means that the coin is very secure and there is no chance for it to be hacked. In addition, the coin is also very easy to use, which makes it appealing to those who are not familiar with the digital world.

To function efficiently, Verse DEX needs to attract sufficient liquidity from market participants. Liquidity, as measured by total value locked , is a key measure of the health of a decentralized exchange. Rewards for liquidity providers and Verse Farms rewards are designed to incentivize the growth of liquidity on the Verse DEX. Learn more about Bitcoin.com’s Verse DEX here. This surge, which aligns with the price action of the broader crypto market, reflects improved sentiment among investors in higher-risk assets. These actions appear to have bolstered investor confidence in the markets, with most risk assets outside of the banking sector seeing gains today.

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Due to the pervasiveness of ERC-20 tokens, ApeCoin can theoretically be accepted by an abundance of merchants – which isn’t the case for tokens from smaller blockchains. ApeCoin is the governance token of the ApeCoin DAO, enabling holders of the token to vote on governance decisions within the DAO. APE Token will function as a gating token, providing limited access to certain parts of the ecosystem such as exclusive events, games and merchandise. You probably heard about Bored Ape Yacht Club , one of the biggest NFTs.

The Yugalabs team has however scheduled the total supply to gradually go into circulation in subsequent years. A major percentage of the total supply is vested and programmed for release within the next four years. 8% of the total supply was allocated to BAYC founders – this allocation will be vested for 12 months after which they will be gradually released per month over the next 36 months.

BAYC NFT Holders Vs ApeCoin Holders

However, the reality is that today a DAO cannot sign a lease or hire people or make merch or whatever the community decides to do on its own. The Foundation is responsible for the day-to-day administration, bookkeeping, project management, and other tasks that ensure the ApeCoin DAO community’s ideas have the support they need to become a reality. ApeCoin is an ERC-20 governance and utility token used within the APE ecosystem to empower a decentralized community building at the forefront of web3. It was built on Ethereum’s ERC-20 token and designed for utility and governance. Having APE makes you a DAO member , so you don’t need to have a Bored Ape NFT to become a part of the community. Any data, text or other content on this page is provided as general market information and not as investment advice.

Consult with a qualified professional before making any financial decisions. This article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies nor can the accuracy or timeliness of the information be guaranteed. ApeCoin is the native cryptocurrency for the ecosystem and also serves as the governance token. It plays an essential role in allowing people to vote on and build AIPs. As a governance token, ApeCoin holders will be at the helm of affairs of the ApeCoin ecosystem and its development plans.

What is the APE ecosystem?

DAO means decentralized autonomous organization where the project is not under an individual or entity’s leadership. The NFT industry has been booming for the past few years, and there is no stopping it anytime soon. The NFT project Bored Ape Yacht Club has been one of the most successful in the blockchain industry. Various APE price highlights unfold in this ApeCoin Price Prediction. Meanwhile, if the 9-day MA crosses above the 21-day MA, the coin may continue to do well and the price could hit the resistance levels at $5.5, $6.0, and $6.5 respectively.

APE will be a cryptocurrency focused on strengthening the club’s community aspect. ApeCoin has some actual utility within the APE ecosystem, so it’s more than just a speculative “meme coin”. However, its price is prone to dramatic fluctuations like many other cryptocurrencies, so as always it’s important to do your homework before investing. The DAO’s decisions are then implemented by the ApeCoin Foundation, which serves as the DAO’s legal representative and supports the growth of the ecosystem in various ways.