Trade ApeCoin tokens for other cryptocurrencies like BTC, ETH, USDT, EUROC, and MATIC. When it comes to investing in any cryptocurrency, it’s important to do your own research and make an informed decision based on your https://www.xcritical.com/ 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. Overall, ApeCoin’s unique features and ecosystem create a thriving community of developers and users, making it a promising investment for those interested in Web3 and decentralized applications. Investing in cryptocurrencies, decentralized finance (DeFi), and other initial coin offerings (ICOs) is highly risky and speculative, and the markets can be extremely volatile.

ApeCoin Price Analysis: From Launch to Now

The token what does ape mean in crypto is managed by the APE Foundation, which administers the decisions of the ApeCoin DAO (decentralized autonomous organization). The holders of ApeCoin are the only voters in the DAO, which the Foundation facilitates. ApeCoin has a fixed total supply of 1 billion APE tokens, which cannot be minted or burned. This means the number of ApeCoins in circulation will never go up or down. Animoca Brands’ game Benji Bananas leverages ApeCoin in a play to earn style game.

How Is the ApeCoin Network Secured?

Those who held a Bored Ape NFT were entitled to claim 10,094 APE coins. Schedule a free demo with our team to learn more and start fundraising with non-cash assets like cryptocurrency, stock and DAFs. In short, these are simply tokens that are used on the Ethereum blockchain and act as assets that facilitate the various utilities and functions on the network.

Factors To Consider When Opening a Cryptocurrency Exchange Account

With Ledger’s ecosystem, you can buy crypto with the assurance that you have full ownership of your funds. Not only that, Ledger devices guarantee your private key stays offline – protecting you from even the most malicious of online threats. The APE Foundation serves as the steward of ApeCoin, as the legal entity.This administrative board oversees decisions made by the ApeCoin DAO. Finally, 8% or 80 million $APE of ApeCoin’s token supply went to the BAYC founders, locking this amount for 12 months and releasing over 36 months. Every owner of a Bored Ape Yacht Club or Mutant Ape Yacht Club NFT was eligible to claim their share of $APE.

Step 4: Securely store your ApeCoin in your personal wallet

ApeCoin ($APE) is a token that exists as an ERC-20 token on the Ethereum blockchain. It was launched in mid-March 2022 as part of the Bored Ape Yacht Club ecosystem. ApeCoin’s launch was rather hyped, not least because 15% of its entire token supply was airdropped to its community. According to Dune Analytics, in the first two weeks after the launch, more than 90% of all eligible addresses had claimed the ApeCoin airdrop. The distribution strategy for APEcoin has been multifaceted, involving airdrops, contests, and bounties, which have engaged the community and increased the token’s circulation. The ecosystem surrounding APEcoin is expansive, including platforms like The MonkeyFirm and BUSTA, which contribute to its utility and offer users various interactions within its network.

ApeCoin’s Future Value Projection

This ecosystem encompasses a variety of platforms, including The MonkeyFirm and BUSTA, all centered around the APE token. As a BEP-20 token, APE embodies the playful spirit of meme culture in the crypto space, aiming to engage users through a mix of humor and innovation. 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. ApeCoin’s price performance is dynamic, and it has shown impressive gains over time, outperforming many other cryptocurrencies.

Understanding NZDD’s Minting Process

As soon as your order is filled, you will receive the APE tokens on your exchange account. 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. ApeCoin (APE) 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 (BAYC). With your freshly gained knowledge, now it’s on you to decide if you start stacking ApeCoin.

• So even if your phone goes missing, Zengo’s features guarantee the recovery of your assets.
• Launched initially on Uniswap in July 2020 and later migrating to the Binance Smart Chain (BSC) in December 2020, APECoin demonstrates flexibility and adaptability in navigating the crypto landscape.
• Threshold key signature (TSS) cryptography is backed by 3-factor authentication and advanced facial recognition software.
• 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.
• Get the receiver’s wallet address, enter it into the prompts, tap send, and let the person receiving know they will get a confirmation.
• However, the BAYC team envisions a much larger future for the Bored Ape ecosystem– and ApeCoin (APE) will serve several important functions.

Its distribution methods, including airdrops, contests, and bounties, further expand its reach and engagement with the community. APEcoin’s meme-based identity is more than just a nod to crypto culture; it’s a strategic embrace of the viral and communal aspects that drive much of the market’s dynamics. 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.

How to Buy ApeCoin (APE)on Binance?

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. 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.

This mainly owes to the fact that in 2021, there was huge celebrity interest in Bored Apes, with mega-wealthy personalities such as Paris Hilton, Eminem and even investment gurus like Adam Draper and Mark Cuban. All of these celebrities bought their very own Bored Ape for millions of dollars, many of them using their own Bored Ape avatar on Twitter – creating immense visibility for the project. Though it is unclear as to how the structure will look like, power distribution DAO is usually directly correlated to the number of ApeCoin a member holds.

Given the tremendous popularity of the Bored Ape collection, ApeCoin is expected to be used by various artists and celebrities for sales and other brand engagements. For example, Rappers Snoop Dogg and Whiz Khalifa released an NFT music album together available for purchase with APE. TIME Magazine announced it will start accepting subscriptions paid with the token. The Bored Ape Yacht Club is living up to its name, as it is an exclusive club indeed.

Sign-up for an account, if you are not already registered, deposit funds instantly and buy APE and 60+ other crypto assets with just a few clicks. As the APE ecosystem continues to grow and expand, it is expected that ApeCoin’s value will also increase. However, it is important to note that cryptocurrencies are inherently volatile, and their prices can fluctuate rapidly, sometimes without any clear cause. ApeCoin can be staked to earn additional APE tokens, making ApeCoin a yield-generating crypto asset. All you need to do is connect your crypto wallet and start earning staking rewards.

Yuga Labs strives to be one of the biggest players in the Metaverse and already created a few retail opportunities. With all eyes on them, the demand for its own crypto token rose – and so it was delivered. CoinCentral’s owners, writers, and/or guest post authors may or may not have a vested interest in any of the above projects and businesses. None of the content on CoinCentral is investment advice nor is it a replacement for advice from a certified financial planner.

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. A lot is happening in the cryptocurrency market, and ApeCoin is as changeable as the weather. Check our ApeCoin price page and use our handy charts to keep track of the latest APE developments.

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. There is a maximum total supply of 1 billion APE (1,000,000,000 APE). At the time of writing (May 2022), roughly 29% of this is supply is in circulation, trading for $7.46 for a market capitalisation of $2.18 billion. 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.

The companion for these two NFT collections — the Bored Ape Kennel Club (BAKC) NFTs —served as a multiplier for the number of tokens that could be received. The answer lies with the Yuga Lab ecosystem and its token allocation at launch. APE is available for purchase on a variety of exchanges, most popularly Coinbase, Binance, Kraken, or Huobi. As one of the early investors, Yuga Labs receives a portion of the token distribution.

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. 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.