You must also note that the ApeCoin pool has unlocked around 117,500,000 tokens at the launch. Now, the collection releases around 7,343,750 tokens every month over the course of the next 48 months. ApeCoin crypto would refer to the limitations on the total token supply to one billion. Interested investors must remember that the overall token supply of ApeCoin features certain distinct categories. ” would obviously draw the focus towards the different functionalities of ApeCoin. It can work as a gate token for the ecosystem, guarding access to different exclusive highlights of the ecosystem.

• APE is governed by the ApeCoin DAO and supported by the APE Foundation.
• ApeCoin APE for delivering something of utility to the community owners.
• APE has been successful in distribution of around 150,000,000 tokens to the BAYC NFT owners in their airdrop mechanism.
• This led to a one-day gain of over 30% as the APE price rose to just below $25.
• The Ledger series of hardware wallets are extremely popular and recommended by most advanced crypto users.
• On top of that, the team runs regular security audits to ensure all wallets are secure from malicious actors.
• Holding APE makes users part of the Ape decentralized autonomous organization , enabling them to vote on system improvement proposals and govern the community surrounding the token.

This represented one of the most valuable airdrops in crypto history at the time. In fact, each holder of a BAYC NFT was able to claim over $100,000 worth of APE at launch. Holders of BAYC can claim 10,094 APE for each NFT they own, while MAYC holders are entitled to 2,042 APE.

price at YouHodler

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. The fact that APE is adopted by Yuga Labs gives it heft, as it also has CryptoPunks and Meebits, two other frontline NFT projects. Otherside deeds are available in the Ape ecosysemIn April 2022, Yuga Labs started minting virtual land in its metaverse project Otherside. The sale went viral, and helped raise $320 million within just 45 minutes.

Animoca Brands and Yuga Labs have teased a Bored Ape secret project that would be powered by ApeCoin. The total supply of Apecoin is permanently fixed at 1 billion tokens, there are no plans to mint further tokens and APE has been designed with no burning capabilities – essentially cementing this supply cap. The tokens follow a concept known as “locked tokens”, which will limit the distribution of the coins to prevent mass sell offs, or dumping, and disrupt the price of the token.

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Yuga Labs is a web3 company best known for the creation of the Bored Ape Yacht Club. It will be a community member in the ApeCoin DAO and adopt APE as the primary token across new projects. Upon the launch of ApeCoin, holders of Bored Ape Yacht Club and Mutant Ape Yacht Club NFTs were entitled to collectively claim 15% of the ApeCoin supply . In addition, APE is adopted by Yuga Labs as the primary token for all new products and services. Yuga Labs is the creator of the trending Bored Ape Yacht Club NFT collections. It also owns the IP of another two popular NFT projects, CryptoPunks and Meebits.

It is important to remember that price forecasts, especially when they concern a commodity as potentially volatile as crypto, often end up being wrong. Also, it is worth pointing out that many long-term crypto price predictions are made using an algorithm, which means that they can change at a moment’s notice. This new marketplace allows NFT investors to buy and sell tokens across Yuga Labs’ collections. These include BAYC, Bored Ape Kennel Club and Mutant Ape Yacht Club. By 24 March, the APE token price had climbed back to over $14 as anticipation grew ahead of the first ever ApeCoin DAO voting event, which was due to take place on the day. The cryptocurrency peaked at $15.43 on 28 March 2022 before embarking on a bearish journey into April 2022.

The APE cryptocurrency

Both of these NFT collections are some of the largest on the Ethereum Blockchain. The average sale price of a Bored Ape NFT is $285,000 as of writing this article. Celebrity names such as Justin Bieber and Eminem are Bored Ape Yacht Club NFT owners.

To add to the popularity of these NFT collections, an airdrop to all holders of Bored Ape and Mutant Ape NFTs took place. For each Bored Ape NFT, 10,094 tokens were allocated and for each Mutant Ape NFT, 2042 tokens were allocated. These two NFT collections what is apecoin have had a large reputation in the cryptocurrency community, and especially in the NFT community. In addition to governance, ApeCoin has also been designed for utility where the token can be used for transactions and payments within Web3 applications.

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Having said that, DEXs are unregulated, and there is no customer protection if funds are lost due to hacks. The collapse of crypto exchange FTX in November 2022 highlighted this risk when billions of dollars in user funds were lost. While purchasing ApeCoin on a crypto exchange is arguably the simplest option, you could also purchase APE on a peer-to-peer exchange or a decentralized exchange .

From a legal standpoint, they are acting as normal community members and token holders in relation to ApeCoin. CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example. ApeCoin also launched its own NFT marketplace, which went live on 23 November. The DAO voted in summer 2022 for the NFT infrastructure company Snag Solutions to build the marketplace, rather than notable industry brands like Rarible or Magic Eden.

ApeCoin

New GameFi and NFT projects on the Bored Ape ecosystem will adopt ApeCoin as their primary token as well. Popular gaming firm Amonicabrands announced that it has adopted ApeCoin as the primary token of its play-to-earn project, Benji Bananas. The mobile game, https://xcritical.com/ which has already grossed over 50 million downloads, rewards players with native tokens which can be swapped for ApeCoin. Other projects growing under BAYC’s umbrella are also expected to adopt reward or participation tactics that incorporate ApeCoin.

Trending Coins

Bored Ape Yacht Club is the first NFT series in the ecosystem, consisting of 10,000 unique digital avatars featuring colorful cartoon apes. Of course, with BitPay’s recent support for the token, you can also buy ApeCoin , store, swap and spend in the BitPay app. All BitPay merchants have the option to accept ApeCoin as payment, opening up thousands of new ways to use and spend the token.