ApeCoin Up 6% as Holders Stake $32M in Ethereum Bored Ape Token

It has a circulating supply of 306.9 million APE coins and is ranked #30, current APEcoin market cap is $1.8 billion. APEcoin All time high price is $1,448.67, it was 1 Year and 7 Months Ago, For the previous 52 weeks, the lowest and highest value for APEcoin was $2.47E-8 and $16.60. Staking model provides APE token rewards to ApeCoin holders who stake their tokens within the contract, as well as Bored Ape and Mutant Ape NFT holders who do the same. All told, 175 million APE—or 17.5% of the total supply—will be awarded through staking over the next three years, with 100 million of that allocated to the first year of rewards.

The price action of ApeCoin has garnered a great deal of attention from investors in recent weeks. This makes it one of the most talked-about altcoin projects of the spring. ApeCoin is a utility and governance token built on the Ethereum blockchain. Yuga Labs, the team behind Bored Apes, wanted to create a unique token for the ecosystem.

  • It is the vision of ApeCoin’s creators that this kind of adoption expands and continues into the future.
  • Apecoin was launched through an airdrop, which allowed certain groups of holders to receive the tokens as rewards.
  • The metaverse of the future will feel like a combination of what digital social technologies can do today.
  • Their role is to ensure the implementation of decisions made by the ApeDAO, which is governed by holders of the APE token.
  • 20 and 28, APE coin price grew by more than 66% from around $9 to over $15.
  • ApeCoin DAO provides decentralized governance, which is essential for this ecosystem.

Once purchased, your APE tokens can be stored in the exchange itself or be taken out and stored in a cryptocurrency wallet. In March 2022, holders of a BAYC were airdropped – given free digital assets – ApeCoins. Meaning they were provided with free money purely for holding the BAYC NFT. Web 3.0 – these words encompass the next generation of the internet built to be more functional, interactive, open, and decentralised. As the world increasingly moves online, newer technologies like blockchain and digital assets offer a way to re-engineer how we interact with the internet, with each other, and the world around us. This new marketplace allows NFT investors to buy and sell tokens across Yuga Labs’ collections.

Risk Associated with APE

It enables the APE community to shape the future direction of the ecosystem. Also, APE holders can gain access to exclusive perks, including games and special events. In addition, APE will be the primary unit of account and medium of exchange for all products and services throughout the APE ecosystem. This includes Yuga Labs, the creator of the Bored Ape Yacht Club NFT series and intellectual property rights owner of the CryptoPunks NFT brand. It is used as a governance token and empowers the community. Token holders can vote for governance decisions, projects, partnerships, and more.

ApeCoin is designed to be used in any number of web3 and metaverse projects, but perhaps the most notable one (which came soon after ApeCoin’s release) was the release of Otherside land NFTs. Governance – Holders can participate in the ApeDAO, making decisions about the direction of the community and future incorporations into new ventures. If you believe Wordfence should be allowing you access to this site, please let them know using the steps below so they can investigate why this is happening. 8% of the 1 billion coins being minted will go to the BAYC’s individual founders. Lieff Cabraser’s lawyers represent clients in individual, group, and class action lawsuits in federal courts nationwide. We have affiliations in specific cases with attorneys licensed to practice in almost every state court in the U.S.

Why ApeCoin DAO is Excited to Watch the Bored Ape Token Grow

The ApeCoin price is constantly changing however our interest rates are rock hard. Our ApeCoin savings account has 3% APR + compounding interest. We have never changed this rate and prefer stability over the inconsistent rates found on DeFi protocols. Multi HODL The what is apecoin most user-friendly trading service in crypto. No order placements fee.Crypto Loans Get cash loan for more than 50 coins as collateral. Bank and credit card withdrawals.Dual Asset Combines yield generating strategies from DeFi with traditional FinTech simplicity.

Most investors were distracted from the bear market and didn’t notice that further refinements came in and IOG as well as the community kept building in the background. It was yesterday when that silence was broken and a wave of confusion rolled all over the Cardano community. The APE ecosystem comprises the ApeCoin community and every product and service using the APE token. One of the most prominent figures in the ecosystem is Yuga Labs, the Web3 company responsible for creating Bored Ape Yacht Club and Mutant Ape Yacht Club NFTs. Also, Yuga Labs is a member of the ApeCoin DAO. BAYC and MAYC NFT holders received a combined 15% of the total ApeCoin supply. For example, non-fungible tokens are unique representations of assets on the blockchain.

APE staking rewards are coming soon, and the price is rising as token and NFT holders prepare to start earning.

As such, analysts and algorithm-based forecasters can and do get their predictions wrong. On 21 April at $17.31, following the announcement that ApeCoin was cooperating with the OliveXFitness Metaverse to grant APE token holders special access to the metaverse’s move-to-earn Dustland games. It remains to be seen https://xcritical.com/ if this mechanic can overcome the reticence some gamers have shown to date about all things blockchain-related. Each investor should always do their own research and invest only what they can comfortably afford to lose. This article is only intended as an informational resource, and it is not financial advice.

This article has been prepared on the basis of internal data, publicly available information and other sources believed to be reliable. The information contained in this article is for general purposes only and not a complete disclosure of every material fact. It should not be construed as investment advice to any party. The article does not warrant the completeness or accuracy of the information, and disclaims all liabilities, losses and damages arising out of the use of this information. Readers shall be fully liable/responsible for any decision taken on the basis of this article.

ApeCoin essentials

First, CoinCodex had a somewhat mixed short-term apecoin price prediction for 2023, arguing that the token could fall to $3.76 by 16 January before rising to $5.45 by 11 February. The site’s technical analysis was, perhaps surprisingly, bullish, with 20 indicators sending upbeat signals against just five making bearish ones. With that all over and done with, let’s take a look at apecoin price predictions being made as of 11 January 2023.

Current APEcoin market cap?

In total, Yuga Labs generated more than $300 million through the sale—all transacted in ApeCoin. Meanwhile, although BAYC creator Yuga Labs doesn’t control ApeCoin, its founders did receive a significant portion of the total supply of APE and the company is listed as a contributor to the project. The Ape Foundation Board includes Reddit co-founder Alexis Ohanian, Yat Siu of developer and venture capital group Animoca Brands, and FTX investor Amy Wu, among others. Their role is to ensure the implementation of decisions made by the ApeDAO, which is governed by holders of the APE token. 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.

ApeCoin essentials

ApeCoin is an ERC-20 token that was created on the Ethereum blockchain. It’s a governance and utility token, holders of which gain access to the ApeCoin DAO. In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether APE is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors.

ApeCoin price prediction: What is apecoin (APE)?

Following the airdrop of APE tokens to BAYC NFT holders, the ApeCoin price has fluctuated dramatically. The considerable risk with APE is that, unlike tokens like Avalanche or Algorand , it’s not tied to a utility of its own. Instead, it relies on the metaverse and BAYC as the primary drivers of ApeCoin price. If either of these narratives falters, then so will ApeCoin.

The existing opportunity to use tokens in real life increases interest in it and attracts more attention. As a form of distributed computing, edge computing enables processing to happen where data is being generated. The Wisconsin Investment Board approved a cushion to address the issue that occurs when public-market shares drop while private-market valuations stay high — which can force LPs to cut private-markets investing. It comes despite a downturn in tech stocks and a range of regulatory issues in the U.S. and China affecting China. Not many IPOs are getting out lately — and bankers are seeking more companies with actual profits. What to know about token compensation at a startup, according to Paradigm’s Dan McCarthy.

ApeCoin essentials

As a result, its market capitalization increased from $3.25 billion to $4.29 billion. The APE ecosystem aims to build the future of Web 3.0 and the ApeCoin DAO as well as the APE Foundation work together to drive growth. The Board, a special council on the Foundation consisting of five members, performs an administrative role at the DAO’s behest. 17, 2022 as the native governance and utility token of the APE ecosystem, comprising the APE Foundation, the ApeCoin DAO, and the Board.

How to buy ApeCoin using a bank account

There are currently 1 billion APE tokens in total and the total supply will gradually increase over the next several years. ApeCoin is “the official token” of the Bored Ape Yacht Club and will act as a reward for Bored Ape NFT collectors. Later, Yuga Labs says APE may be used in NFT marketplaces, online gaming, and more. The ApeCoin DAO is the governing body of the APE ecosystem.

ApeCoin essentials

This allows you to follow the latest APE price anytime, anywhere. About Company We innovate with respect for both technologies and traditions.Company Stats Monthly data on the performance, community growth and volumes. Sign up for Boardroom’s newsletters to get the biggest stories in the business of sports, entertainment, and culture directly in your inbox — daily. Michelai Graham is Boardroom’s resident tech and crypto reporter. Before joining 35V, she was a freelance reporter with bylines in AfroTech, HubSpot, The Plug, and Lifewire, to name a few. At Boardroom, Michelai covers Web3, NFTs, crypto, tech, and gaming.

To participate in the ApeCoin life users should be ApeCoin DAO members. ApeCoin DAO provides decentralized governance, which is essential for this ecosystem. It is governed by the community and the level of decentralization is increasing with time. The APE Foundation is meant to help the APE ecosystem to grow and develop.

Analysis was done on daily data, so all moving averages, RSI, etc.., were calculated on a daily APEcoin price chart. To see more analysis and outlook please check the APEcoin price prediction page. APE can be bought on major centralized exchanges, including Coinbase, Binance, OKX, FTX, eToro, among others. You can also swap ETH, BTC, or USDT for ApeCoin tokens on decentralized exchanges, including PancakeSwap. Released a teaser video of its metaverse ‘Otherside’ where ApeCoin will be the native token.

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