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As APE is an ERC-20 token, you could swap Ethereum-based stablecoins or ETH on a decentralized https://www.xcritical.com/ exchange like Uniswap for ApeCoin, for example. Moreover, numerous crypto wallets also offer in-app token swapping, enabling you to swap other ERC-20 tokens for APE. The APE token is a custom-built cryptocurrency that follows the ERC-20 standard and is based on the Ethereum blockchain. On the live ApeCoin price chart above, you can find the latest APE price. In addition to its use in network governance, APE is meant to be used as a utility token—or currency—in web3 projects like games and metaverse worlds.
$APE is Not Just for The Yuga Labs Ecosystem
Firstly, the growing adoption and use of the APE ecosystem by developers and users increases the demand for ApeCoin. Additionally, the limited supply of ApeCoin and its deflationary tokenomics model, which reduces the supply of tokens over time, also contributes to its increasing value. The partnerships and collaborations with other projects in the blockchain space also add to the positive sentiment surrounding ApeCoin, as well as the overall bullish market trend. Furthermore, any positive news or developments related to ApeCoin, such as new product launches or upgrades to the ecosystem, can also what is coin ape drive up its price. Overall, these factors create a positive feedback loop that can lead to a sustained increase in the value of ApeCoin.
What’s ApeCoin highest price ever?
- They enable automated and trustless transactions, reducing the need for intermediaries and enhancing efficiency.
- No minimums, maximums, or hidden fees, Zengo keeps you in control while making trading simple.
- Spend your APE or more than a dozen other cryptocurrencies as easily as cash.
- The token also exists to incentivize third-party developers to participate in the APE ecosystem by building applications that incorporate ApeCoin.
- The Board is responsible for the day-to-day administration, bookkeeping, project management, and other tasks that ensure the Community’s ideas have the support they need to become a reality.
Those who held a Mutant Ape, a derivative NFT issued to BAYC holders in 2021, could claim 2,042 APE tokens. Holders of both Bored Ape NFTs and Kennel Club NFTs, another derivative NFT project, could claim 10,950 tokens. Those who held a Mutant Ape NFT and a Kennel Club NFT were entitled to 2,898 tokens.
OK, but what can I do with ApeCoin?
After being listed on all the major exchanges, ApeCoin attracted the attention of the whole world. The market capitalization of the token has grown from zero to $4.152 billion, and its price has increased by 100% (at the time of writing). We offer our readers a brief overview of the APE NFT coin in the new StealthEX article. Of the total supply, 15% of tokens were made immediately available to the BAYC and MAYC NFT holders upon launch, and 47% of tokens went to the DAO treasury. A further 15% was distributed to Yuga Labs, and 14% was reserved for investors and contributors to the project. The four founders of Yuga Labs and the BAYC were given 8% of all APE tokens.
BAYC as the most recognisable NFT collectible brand
This feature is particularly beneficial for projects like Otherside, where complex interactions and transactions can be managed seamlessly within the metaverse. Discover what’s fueling the rise of cryptocurrency fundraising and how your nonprofit can build a successful crypto fundraising program. This isn’t to say that memecoins can’t flourish – take Dogecoin as an example – but you should always be aware of what you’re getting into when investing in new tokens like APE that ride high on hype. The NFT art scene’s original projects like CryptoPunks and CryptoKitties are considered the benchmarks of successful NFT brands. However, BAYC has dislodged them from the top spots held for many years, at least, in terms of market capitalisation.
The ApeCoin DAO hopes to be the decentralised governance mechanism that will build and manage APE’s community all over the world. It is meant to be a fair and objective system to manage the decision-making processes of the collective DAO. A special council was initially formed on the APE Foundation and named the Board. They currently meet to decide on proposals and pass administrative reviews before enacting them. Currently, the Board serves a six-month term before a voting process is held annually to select new Board members. The foundation is also in charge of the Ecosystem Fund, which multi-sig wallet holding APE, which will be used to fund expenses as determined by the DAO members.
Back in September, a developer launched a cryptocurrency called “Adventure Gold” (AGLD) as a companion to an ascendant NFT collection called Loot. Anyone with a Loot NFT was automatically entitled to a certain amount of AGLD, and claiming those tokens meant coming into tens of thousands of dollars without any extra effort. The APES ecosystem further engages its community through interactive elements like games and staking opportunities. The concept of “shilling the coin, playing the game, having fun, and staking tokens” encapsulates the multifaceted approach APES takes to maintain an active and engaged user base.
This decentralized nature ensures that no single entity has control over the network, making it resistant to censorship and fraud. In mid-May 2022, the first such game to use APE was introduced as Benji Bananas. APE is used to buy a game pass (in the form of a ‘Benji Pass’ NFT).
The most secure hardware wallets for keeping your cryptocurrency safe are Ledger and Trezor. ApeCoin has been listed on many crypto exchanges, but the best platform for acquiring an asset is StealthEX, a custody-free crypto exchange. It provides the opportunity to convert over 400 cryptocurrency assets limitlessly, without having to register, and with no extra or hidden fees. Coins have already been distributed among investors and other participants. Yuga Labs received 9.75%, the four founders received 8%, various startup participants received 14%, and the Jane Goodball Legacy Foundation will get 6.25%. Funds from the sale of new cryptocurrency will be spent on various activities, such as the NFT market and blockchain games development.
In terms of the APE DAO, as the governance token meant to decide the future direction of the APE ecosystem, token holders should be able to use their ApeCoin to vote on proposals accepted by the community. They can use it to purchase new products and services, such as a play-to-earn game being developed by BAYC and nWay. Furthermore, ApeCoin is accepted in Animoca Brands’ Benji Bananas game.
Holders of other Yuga Labs NFTs like Mutant Apes and the Kennel Club also received APE tokens. Zengo is a safe wallet to hold (or HODL) APE tokens for as long as you need to. The state-of-the-art security combined with guaranteed recovery methods means that even if you lose or break your smartphone, Zengo will make sure you can always access your crypto.
With Zengo, it’s easy to access vital data about your coins, view APE’s performance, and execute trades with ease. 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 all-time high for ApeCoin (APE) was reached in April, 2022, when the token’s price peaked at $26,7. This occurred during a time of heightened market activity and excitement around the ApeCoin ecosystem and its unique features. The token has experienced both significant price spikes and prolonged price dips.
They aimed to revolutionize financial services and create an accessible platform for digital currency. With ApeCoin, users can buy, hold, and trade APE tokens on cryptocurrency exchanges. The use of APE tokens within the platform is versatile, ranging from conducting transactions to using them as collateral for Decentralized Finance (DeFi) applications.
It’s important for investors and traders to stay up-to-date with the latest ApeCoin price movements and market trends to make informed decisions. The APE Foundation is the steward of ApeCoin and facilitates decentralized and community-led governance. After an initial 6-month term, DAO members will vote annually to keep existing or appoint new Board members. The goal is for the Foundation to become more decentralised over time.
It is the vision of ApeCoin’s creators that this kind of adoption expands and continues into the future. With your freshly gained knowledge, now it’s on you to decide if you start stacking ApeCoin. But before you get there, you’ll have to set up an account to store it. To do so, you’ll need to set up an Ethereum account on your Ledger device if you haven’t already. To learn how to do this, check out this support article on adding an Ethereum account to your Ledger.
Finally, 1% was donated to the Jane Goodall Legacy Foundation to aid in its efforts to promote conservation, educational programs, and research of environmental initiatives. It’s difficult to predict the exact price of ApeCoin in the future as it is subject to market fluctuations and various other factors. However, it is important to note that the cryptocurrency market is highly volatile and unpredictable, and prices can change rapidly in a short amount of time.
Firstly, like many cryptocurrencies, its main purpose is a currency. To explain, ApeCoin will be the currency for the Otherside Metaverse, created by Yuga Labs. The token will allow users to buy items and power-ups in this highly anticipated metaverse. Under the QR code, you will see a string of numbers and letters – this is your wallet address. To receive APE coins, copy and paste the address to whoever wants to send you crypto. ApeCoin was launched on March 17, 2022, and was distributed among Bored Ape holders, Yuga Labs, a charity, the founders, and companies in partnership with APE.
The sale went viral, and helped raise $320 million within just 45 minutes. 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. If the price holds, and traders outside the Bored Ape Yacht Club ecosystem start taking positions in APE, you can expect the use cases to, uh, evolve. Right now, ApeCoin mostly exists for speculation and “governance” for the DAO.
It doesn’t matter if you are buying your first tokens or trading your portfolio. ApeCoin (APE) is an ERC-20 token that acts as the governance token for ApeCoin DAO, a decentralized autonomous organization run by the community of APE holders. APE is the result of the success of Yuga Labs, famous for generating the Bored Ape Yacht Club NFT series. 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.
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