ApeCoin is in the news since its launch. The coin has seen a dramatic rise in price in the month of April. It is currently trading around its all-time high. Let’s take a look at ApeCoin’s fundamentals and its price prediction.
What is ApeCoin (APE)?
ApeCoin is the governance and utility token for APE ecosystem. The holders of APE get to have voting rights on the governance of ApeCoin DAO.
APE is an ERC-20 token built and controlled by the community. It has a total supply of 1 billion tokens. Currently, ApeCoin is trading at $20 with a week’s surge of 30%.
Yuga Labs has also adopted ApeCoin for all its new product and services. Yuga Labs is behind trending NFT collections such as Bored Ape Yacht Club (BAYC), Crypto Punks, and Meebits.
APE ecosystem consists of the APE Foundation, ApeCoin DAO (Decentralized Autonomous Organization), and APE token holders. The token holders vote on governance decisions by participating in DAO. As there is no central authority so once a proposal is approved by holders it is then implemented by the APE foundation.
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APE foundation describes the vision and future of APE DAO. Every token holder has a say in the decisions. The foundation has a council of 5 members called the Board. As all the work is decentralized, so the Board basically oversees the implementation of different tasks. Holders can get to vote for new members on annual basis.
Yuga Labs has created a popular collection of NFTs which utilize APE for their products and services. The NFT holders also have a share of the total ApeCoin supply.
Bored Ape Yacht Club (BAYC)
Bored Ape Yacht Club (BAYC) has a collection of 10,000 unique Apes, each with its own look, style, and rarity. They exist on the Ethereum blockchain. BAYC was launched in April 2021a as the first NFT collection for the APE ecosystem.
Mutant Ape Yacht Club (MAYC)
Mutant Ape Yacht Club (MAYC) consists of the mutated version of the original BAYC Apes. BAYC NFT holders could create a different type of mutant ape with mutant serum. Yuga Labs airdropped 10,000 mutant serums to holders of BAYC NFT.
MAYC minted 10,000 mutant apes in August 2021 for public sale. This was done to attract new members to the APE community.
Bored Ape Kennel Club (BAKC)
This collection of dog NFTs is available for BAYC members. They can adopt a random club dog NFT for free. All 10,000 BAKC NFTs have different qualities and rarities.
Is ApeCoin a Good Investment?
ApeCoin has utility within and beyond the APE ecosystem. The holders of the token can decide the new product development features, participates in services, games, and airdrops as well as have the liberty to use some exclusive features within the ecosystem.
The new crypto project developers can also adopt APE. It can help kick-start the token economy for games and services.
ApeCoin is considered a good investment for the long term with its utility and strong community base. It is expected to grab some substantial gains over the years. IN comparison to other hyped-up crypto coins, ApeCoin seems a pretty solid contender.
How to Get ApeCoin?
ApeCoin is listed on all popular crypto exchanges. You buy an APE token in 3 easy steps:
- Create your account on a trading exchange. For this example, we will consider Binance. Fund your account with your card or purchase some USDT using P2P trading.
- Go to the classic trading page and search for APE pairs. Select the BUSD or USDT pair.
- Enter the amount you want to purchase and put forth the market order.
ApeCoin hodlers can use the token for a multitude of purposes. It allows them to buy products and services and be eligible for NFT airdrops. You can also stake APE and earn passive income.
ApeCoin is also fueling the Web 3 revolution. Hence it is considered a promising coin by the analysts.