What is APE Coin? The Cryptocurrency Behind Bored Ape Yacht Club NFTs

They also hope to make the system even more user-friendly and easy to use. This is reflected in the 30-day Market Value to Realized Value ratio, which pivoted in the last two days. This confirmed that any buying pressure during the same time was at a loss at press time. According to a WhaleStats analysis on 6 January, APE breached the list of top 10 tokens by trading volume among the 500 biggest ETH whales.

Here we go over what ApeCoin is, how it works and the roles it plays in the NFT ecosystem. Bored Ape Yacht Club , is almost a household name at this point and the latest NFT collection, Mutant Ape Yacht Club , is no less popular. The team recently released its proprietary ‘ApeCoin ’ crypto, which has attracted considerable interest since its debut. Atomic swaps are smart contracts that enable the exchange of cryptocurrencies from different blockchains in one transaction instead of many.

You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again. Wallet Investorwas – perhaps surprisingly, given the site’s regular bearishness – positive in terms of an APE price prediction. The site said the token could be worth $9.23 in January 2024 before climbing to just below $27.69 in five years’ time. The APE NFT crypto saw its value surge by 126.8% on the first day of launch, reaching $16.47, up from $7.2604 in less than 24 hours, as seen on the price chart below. 03 by the end of the day and continued to move sideways on 19 March 2022 before falling to just above $9 on 21 March 2022.

How does ApeCoin work

So there’s obviously a lot of risk involved in buying ApeCoin right now. The effect that large whales might have over the next price performance of the collections is critical. That is why it is usually important to check if these whales are following a trend by selling or buying https://xcritical.com/ their pieces. The size of the bubble represents the amount of listings that are in that price range. “In the money” corresponds to those addresses that would net a profit if they sell their token at the listed price, while”Out of the money” corresponds to the opposite.

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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. The next 16% was distributed to Yuga Labs itself and 10 million tokens went to the Jane Goodall Legacy Foundation. The entirety of the next 14% were paid out to various launch contributors for helping bring the project to life. The final 8% tranche of ApeCoin was distributed to the quartet of founders behind Yuga Labs and BAYC.

How does ApeCoin work

Now that APE has turned bearish over the last two days, there is a notably higher likelihood of more downside. Short traders should expect at least another 4% price drop, which will put APE closer to its 50-day MA and back on the 50% RSI level. A downside of this arrangement is that companies can take a very long time to arrive at these exits. Most VC funds assume it will take 7 to 10 years to know how well their bets are paying off, and in the meantime they face risk and uncertainty. This all matters so much because it could dramatically change the investment narrative for ApeCoin. The current thinking is that the price of ApeCoin is directly correlated with the overall health of the NFT market.

How does ApeCoin Work?

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 are related to the APE ecosystem. 20 Best Index Funds to Invest in India in March What is an Index Fund? An index fund is a type of mutual fund or exchange-traded fund that…

Yuga Labs is led by CEO Nicole Muniz, who is a former partner at advertising company B-Reel and founder of her own boutique consulting agency. At the end of April 2022, Yuga Labs began minting Otherside metaverse lands. Within 45 minutes, the virtual real estate clocked the value of $100,000 and raised a total of $320 million, making BAYC the NFT garnering the maximum sales. ApeCoin’s supply is fixed at 1 billion APE, meaning tokens cannot be mined or burned.

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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. As soon as your order is filled, you will receive the APE tokens on your exchange account. ApeCoin is a utility and governance token that was created to empower the community surrounding the APE ecosystem, which was built on the back of the Bored Ape Yacht Club . Just as Axie Infinity players earn tokens in tactical arenas, so will they earn APE coins for all upcoming games within the APE ecosystem. It will then be up to Yuga Labs to forge partnerships with other companies to integrate their coin, alongside developing their own Otherside experience.

The metaverse of the future will feel like a combination of what digital social technologies can do today. Instead of just texting people, you’ll feel like you’re sitting beside them. Working remotely won’t feel remote at all; business meetings could take place in a virtual space, and you could experience retail-like shopping experiences sitting in your bedroom! This process won’t happen overnight, but the seeds have been sown, starting with the crypto world. The metaverse will play a growing factor in digital products in the future.

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The uses of the $APE token might dig deeper into the evolving metaverse culture. ApeCoin can serve as a vital tool for facilitating metaverse purchases and sales alongside creating their identities and other experiences on the metaverse. The DAO provides a suitable option for ensuring decentralized governance while also supporting the growth of a globally interspersed community. All the ApeCoin owners can have the eligibility for joining the ApeCoin DAO. Therefore, the average price of one BAYC NFT rounded up on an average estimate of $285,000. However, the buzz around BAYC NFTs gained momentum in recent times with the launch of ApeCoin on March 16, 2022.

How does ApeCoin work

APE holders can also access exclusive features of the APE ecosystem, including games, merch, events, and services. APE is governed by the ApeCoin DAO and supported by the APE Foundation. With APE, token holders can vote on governance proposals on the DAO and access exclusive features of the APE ecosystem, such as games, events, and services.

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. Once the votes are tallied, the ApeCoin Foundation implements the governance decisions taken by the community. The Youtuber sees strong potential for future growth due to its well-built platform and technology and its use in various popular applications. They also believe that ApeCoin’s low supply compared to demand will help drive up the price in the long run, making it one of the top-performing cryptocurrencies.

Best ApeCoin (APE) Wallet – Get $10 Bonus for Deposit

The coin is governed by the ApeCoin DAO, of which all token holders are eligible to become members. The ApeCoin DAO makes decisions on matters such as governance rules, partnerships, projects, Ecosystem Fund allocations, what is apecoin and more. The Ecosystem Fund supports community-driven initiatives and was allocated 62% of the ApeCoin supply when launched. As a governance and utility token, ApeCoin serves multiple purposes in the ecosystem.

  • The ApeCoin follows the ERC-20 token standard and serves as a utility as well as governance token within the Bored Ape ecosystem.
  • With APE, token holders can vote on governance proposals on the DAO and access exclusive features of the APE ecosystem, such as games, events, and services.
  • ApeCoin is a decentralized, peer-to-peer digital currency that enables instant, near-zero cost payments to anyone in the world.
  • The uses of the $APE token might dig deeper into the evolving metaverse culture.
  • These are the businesses and individuals who contributed to the success of this project.
  • Each BAYC can only generate a single mutant from a single serum type, and the serum disappears after use.

As its name suggests, a desktop APE wallet is one that’s installed on a desktop computer or a laptop. Users get complete control over the wallet just as they would with a mobile wallet, just in a desktop environment. The main difference is that some desktop wallets have more advanced functionality like the ability to operate a complete node or full crypto exchange integration. No order placements fee.Crypto Loans Get cash loan for more than 50 coins as collateral.

APE is managed by the ApeCoin DAO. Token holders can vote on various proposals for the direction of the DAO while also gaining access to exclusive games, events, and services within the ecosystem. If you’re an APE holder, you’re going to want a solid ApeCoine wallet to keep your stash. For investors, ApeCoin provides investment exposure to the Web3 ecosystem built on the Bored Ape brand. ApeCoin is a digital asset and cryptocurrency built on the Ethereum blockchain.

Apecoin Price Prediction 2026

Web APE wallets are wallets that exist on a website or online service that allow users to send and receive cryptocurrency in addition to storing it. These wallets can be accessed anytime, and anywhere as long as there is the internet. Some of the most popular crypto services in the world are web wallets such as Coinbase, Kraken, Binance, and YouHodler. Security is a concern for web wallets but that can be managed with due diligence to make sure the web wallet you choose has a good history of high-level security and insurance.

Mobile APE wallet

For each Bored Ape NFT, 10,094 tokens were allocated and for each Mutant Ape NFT, 2042 tokens were allocated. These two NFT collections have had a large reputation in the cryptocurrency community, and especially in the NFT community. ApeCoin is an ERC-20 token that operates on the Ethereum blockchain. It was designed to embody the future of culture, art, gaming, and entertainment through blockchain technology and community-led initiatives. ApeCoin is the native cryptocurrency token for the Bored Ape and Mutant Ape ecosystem. If you’d like to become an ApeCoin holder or incorporate APE into your investment portfolio you can do so easily with the Tap mobile app.

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ApeCoin crypto would depend considerably on the difference in the floor prices of NFT collections for enabling a fair ApeCoin launch for Bored Ape and Mutant Ape NFT owners. Subsequently, the unclaimed tokens would revert back to the Ecosystem Fund. An NFT collection tailored with specific airdrop and distribution mechanisms can obviously serve as a trustworthy alternative to other projects. Third-party developers use ApeCoin to play a role in the ecosystem and incorporate the token into their services, games and various projects.

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