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What is ApeCoin (APE)?

ApeCoin basic info

Name:ApeCoin
Ticker:
Introduction:

What Is ApeCoin?

ApeCoin (APE) is a cryptocurrency project linked to the Bored Ape Yacht Club (BAYC), a renowned non-fungible token (NFT) collection. The BAYC, consisting of 10,000 unique cartoon ape images, became a sensation during the 2021 NFT boom, with some of its rare Apes fetching prices in the hundreds of millions of dollars. This crypto token is designed to power the APE ecosystem, providing a bridge between the world of NFTs and decentralized finance.

ApeCoin provides its holders with access to exclusive physical and digital events, online games, Web3 services, and merchandise. It serves as a gateway for investors to tap into the Web3 ecosystem built around the Bored Ape brand. As an ERC-20 token on the Ethereum blockchain, it offers flexibility in its use, making it a versatile asset in the crypto realm.

Resources

Official Website: https://apecoin.com/

How Does ApeCoin Work?

ApeCoin is built as an ERC-20 token, which means it operates on the Ethereum blockchain, a platform known for its smart contract functionality. The initial distribution of ApeCoin was unique and noteworthy. It was airdropped to owners of NFTs from the Bored Ape Yacht Club (BAYC) and its associated collection, the Mutant Ape Yacht Club (MAYC). This strategic move made the airdrop one of the most valuable in the history of cryptocurrencies at that time.

Holding APE tokens integrates users into the Ape decentralized autonomous organization (ApeDAO). This DAO is a community-driven platform where APE holders can vote on system improvement proposals, making crucial decisions that shape the direction and future of the APE ecosystem. This democratic approach ensures that the community remains at the heart of ApeCoin's development and evolution.

While governance is a significant aspect of ApeCoin, its utility extends beyond that. APE is designed to function as a utility token in various web3 projects. This includes its use in online games, metaverse worlds, and other decentralized applications. The versatility of APE ensures that it remains relevant and valuable in the rapidly evolving world of decentralized finance and NFTs.

What Is The APE Token?

The APE token is both a governance and utility token for the APE ecosystem. APE has a hard cap of 1 billion. The current circulating supply of APE is 368.59 million. APE was created to empower the community built around the Bored Ape Yacht Club. As an ERC-20 token, APE offers flexibility in its use, serving as a governance token and as a currency in projects that incorporate it.

The primary purposes of APE include governance, where holders can participate in the ApeDAO, making decisions about the community's direction; unification of spend, where APE can be used as a decentralized currency; access, where holding APE can grant users opportunities such as additional airdrops or exclusive events; and incentivization, where developers can incorporate APE into their projects and participate in the Bored Ape ecosystem.

ApeCoin's Impact on Finance

ApeCoin's emergence has had a significant impact on the financial landscape, especially within the NFT and crypto sectors. Its affiliation with the Bored Ape Yacht Club, one of the most prominent NFT collections, has given it a unique position in the market. The token's utility in various web3 projects, combined with its governance capabilities, showcases the evolving nature of cryptocurrencies and their increasing integration into broader digital ecosystems.

Moreover, ApeCoin's potential to bring new participants into the crypto world, through events, gaming, and merchandise, signifies the rapid evolution of the NFT space beyond just profile picture projects. As the APE ecosystem continues to grow and diversify, ApeCoin is poised to play a pivotal role in shaping the future of decentralized finance and web3 projects.

What Determines ApeCoin's Price

In the dynamic cryptocurrency landscape, the ApeCoin (APE) emerges as a beacon of innovation and community engagement. Recent APE coin market analysis reveals that its price trends are significantly influenced by the developments within the Bored Ape Yacht Club (BAYC) ecosystem, a prominent NFT project initiated by Yuga Labs. Notably, ApeCoin price predictions are closely aligned with the activities and developments in the BAYC ecosystem, which has attracted a massive following, including renowned personalities like Justin Bieber and Paris Hilton.

As the ApeCoin historical price data suggests, the APE cryptocurrency value transcends typical market trends. It is also molded by its strategic integration into various web3 projects and metaverse initiatives, including partnerships with platforms like the Otherside metaverse, developed in collaboration with Animoca Brands.

Potential investors looking to buy ApeCoin online should note that the APE coin latest price is swayed by a plethora of factors, including its functionality within the BAYC ecosystem and its significant role as a governance token in the decentralized autonomous organization, ApeCoin DAO. ApeCoin (APE) live price charts often mirror the real-time developments and partnerships nurturing within the blockchain space.

For instance, investors often scrutinize the ApeCoin price forecast, keen on deciphering the potential long-term value of the coin. This interest is particularly piqued given its integration into gaming platforms and other burgeoning web3 projects. Furthermore, the ApeCoin market cap, a critical metric determined by the circulating supply of the coin, significantly influences APE cryptocurrency investment decisions. As of September 2023, a vibrant community is rallying behind a circulating supply of 368,593,750 APE, from a total cap of 1 billion tokens, eager to guide the trajectory of future developments through active participation in the ApeDAO.

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Current price:
All-time high:$40.12
All-time low:$0.4748

APE supply and tokenomics

Circulating supply:-- APE
Total supply:-- APE
Max supply:0 APE
Market cap:--
Fully diluted market cap:--
Token allocation:
ApeCoin DAO treasury and resources
47.00%
BAYC/MAYC Holders
15.00%
Yuga Labs
15.00%
Launch Contributors
14.00%
BAYC Founders
8.00%
Jane Goodall Legacy Foundation
1.00%
Tokenomics:

Uniqueness

ApeCoin is the APE Ecosystem’s governance token, allowing token holders to participate in ApeCoin DAO and giving its participants a shared and open currency that can be used without centralized intermediaries.

ApeCoin also gives access to certain parts of the Ecosystem that are otherwise unavailable, like exclusive games and services. For third-party developers, ApeCoin is a tool to participate in the ecosystem by incorporating ApeCoin into services, games, and other projects.

The APE Foundation was gifted a 1 of 1 NFT by Yuga Labs, the creators of Bored Ape Yacht Club. Yuga Labs has conveyed all rights and privileges to this NFT and its underlying artwork to the APE Foundation. The ApeCoin DAO members can decide how this intellectual property is used.

Token utility

As the open-source protocol layer of the ecosystem, ApeCoin serves several purposes:

  • Governance: ApeCoin is the ecosystem’s governance token, allowing ApeCoin holders to participate in ApeCoin DAO.
  • Unification of Spend: ApeCoin is the ecosystem’s utility token, giving all its participants a shared and open currency that can be used without centralized intermediaries.
  • Access: ApeCoin provides access to certain parts of the ecosystem that are otherwise unavailable, such as exclusive games, merch, events, and services.
  • Incentivization: ApeCoin is a tool for third-party developers to participate in the ecosystem by incorporating $APE into services, games, and other projects.
  • Links

    Buy ApeCoin for $1Buy APE now

    What is the development prospect and future value of APE?

    The market value of APE currently stands at --, and its market ranking is #999999. The value of APE is not widely recognized by the market. When the bull market comes, the market value of APE may have great growth potential.

    As a new type of currency with innovative technology and unique use cases, APE has broad market potential and significant room for development. The distinctiveness and appeal of APE may attract the interest of specific groups, thereby driving up its market value.

    What will the price of APE be in 2025?
    Based on APE's historical price performance prediction model, the price of APE is projected to reach $1.6 in 2025.
    What will the price of APE be in 2030?
    In 2030, the APE price is expected to change by +2.00%. By the end of 2030, the APE price is projected to reach $1.88, with a cumulative ROI of +81.25%.
    Reminder: Just like all cryptocurrency investments, investors must closely monitor the market performance of APE and be aware of the associated risks. The world of cryptocurrencies is full of uncertainties, so thorough research and preparation are essential.

    Is APE worth investing or holding? How to buy APE from a crypto exchange?

    If you want to buy APE, the following information may be helpful for your investment decisions:
    In the last 7 days, the price of APE has fallen by undefined%, leading to negative returns for most APE investors. The market is currently pessimistic about the price trend of APE.
    It is important to note that the current price of APE has retreated by -97.34% from its all-time high. This coin is currently considered high-risk, and while its price may rebound in the future, there is significant uncertainty.
    Additionally, it's important to understand that each coin has its own optimal times for buying and selling. The optimal time to invest is dynamic: when a coin is undervalued, it's wise to adopt a buying strategy; when it becomes overvalued, you should decisively sell the coin.
    To decide whether APE is worth investing in, you need to consider various market factors such as the overall trend of the cryptocurrency market, the project's fundamentals, its current market valuation, and whether the current price is suitable for buying. If the project's fundamentals suddenly change or the price becomes excessively high, you should adjust your investment strategy and trading operations accordingly.
    Your investment decisions should be based on your own risk tolerance, financial status, market analysis and research, especially the timing of your investments. Correct timing can ensure more reliable returns. Keep in mind that investing in APE or any cryptocurrency comes with certain risks and uncertainties.
    Regardless of your outlook on the development prospects and future trends of APE, if you want to buy or sell APE, you can consider Bitget for your trading needs. The best place to buy APE is an exchange that offers hassle-free and secure transactions, combined with a user-friendly interface and high liquidity. Every day, millions of users choose Bitget as their trusted platform for crypto purchases.
    Investing in ApeCoin has never been easier. Simply sign up on Bitget, complete the identity verification process, and make payments using bank transfers, debit cards, or credit cards, all while ensuring security through crypto wallets. This is a widely adopted method to buy ApeCoin. Here's a step-by-step guide on how to buy ApeCoin on Bitget.

    How to get ApeCoin through other methods?

    Using cash to buy ApeCoin is not the only way to obtain ApeCoin. If you have the time to spare, you can get ApeCoin for free.
    Learn how to earn ApeCoin for free through the Learn2Earn promotion.
    Earn free ApeCoin by inviting friends to join Bitget's Assist2Earn promotion.
    Receive free ApeCoin airdrops by joining ongoing challenges and promotions.
    All crypto airdrops and rewards can be converted to ApeCoin through Bitget Convert, Bitget Swap, or spot trading.

    What is ApeCoin used for and how to use ApeCoin?

    The use case of ApeCoin may expand as the crypto market and the project itself develop. Currently, you can use APE to achieve the following goals:
    Arbitrage by trading APE: Since APE is a frequently traded cryptocurrency, the price of APE is always fluctuating. Earn more APE by buying low and selling high on the exchange. Bitget spot market provides a variety of APE trading pairs to fully meet your needs.
    Earn by staking APE: You can also generate income through financial management methods such as staking APE or lending APE. Bitget Earn offers a variety of financial products designed to help you earn more income from your APE.
    Send or pay APE: If you want to give APE to your friends, a charity, or a fundraiser, or you want to pay someone with APE, you can quickly and easily send APE to the recipient through their payment address.
    You can also go to the official website of the ApeCoin project to learn more about the use cases of APE. For example, find out if the project supports the use of within its community or ecology, or if the project allows you to purchase physical or virtual products in .

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