APEcoin Price Stats
Market Cap: $2,066,562,715
Circulating Supply: 292,187,500
Supply Cap: 1,000,000,000
All Time High: $26.70 -73.6% April 28, 2022 (about 1 month)
All Time Low: $5.28 33.6% May 11, 2022 (18 days)
Brief Description of APEcoin
APEcoin, a brainchild of Yuga Labs, emerges as a captivating fusion of innovation and entertainment. NFTs (non-fungible tokens) have revolutionized how we perceive and interact with digital assets, and APEcoin adds a unique twist to this transformative trend.
At its core, APEcoin is not just another cryptocurrency; it’s a gateway to a new realm of digital creativity and community engagement. Rooted in the NFT ecosystem, APEcoin is designed to empower both creators and collectors by providing them with a dynamic platform to tokenize and trade digital art, entertainment assets, and more. Unlike traditional cryptocurrencies, NFTs are indivisible and unique, representing ownership of a specific item or piece of content. This inherent scarcity lends itself well to the world of art, entertainment, and collectibles, and APEcoin is at the forefront of leveraging this potential.
ApeCoin is an ERC-20 governance and utility token used within the APE Ecosystem to empower and incentivize a decentralized community building at the forefront of web3. It was Launched in March 17, 2022 and has a circulating supply of 290 Million APE coins and a total supply of 1 Billion.
Ape Coin is Ranked #32 on Coinmarketcap and on Coingecko it is Ranked #36 and it can be Purchased currently on Binance, OKX, Bybit, Bitget, and CoinTiger.
The Team Behind APEcoin
ApeCoin stands as a decentralized venture sparked by the creative impetus of Yuga Labs’ ingenious Bored Ape Yacht Club initiative. The inception of ApeCoin was propelled by a vision to weave into the burgeoning APE Ecosystem, a realm bolstered by the foundational support of the APE Foundation. Central to this ecosystem’s blueprint, the ApeCoin DAO emerges as a driving force, committed to nurturing and expanding the APE Ecosystem through an equitable and all-encompassing approach. Rooted in the tenets of open and permissionless governance, the ApeCoin DAO establishes a collaborative haven for holders, facilitating collective decision-making processes.
Embedded within the APE Foundation, a dynamic administrative council, colloquially referred to as the “Board,” takes on the mantle of executing the ApeCoin DAO’s deliberations. This multifaceted entity undertakes the intricate tapestry of day-to-day administration, project management, and the crucial task of bridging ideas from the community to tangible reality. The harmonious synergy between the ApeCoin DAO members and the Board forms the crux of this operational framework, as DAO members actively partake in voting procedures that shape the composition of the Board, a manifestation of collective agency steering the course of the APE Ecosystem’s evolution.
Advantages of APEcoin
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Airdrops and other incentives are available.
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ERC20 token with fast transactions with low fees.
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Token supply is neither inflationary or deflationary.
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It Features a decentralized governance structure.
Disadvantages of APEcoin
- Concerns over attacks by flash loans
- Still too early to predict future potential
- There is no mining of new tokens
Use Cases of APEcoin
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Payment Method: As touched on, ApeCoin is designed in a similar way to other Web 3.0 coins in that it can be used as a way to conduct decentralized payments. Due to the pervasiveness of ERC-20 tokens, ApeCoin can theoretically be accepted by an abundance of merchants – which isn’t the case for tokens from smaller blockchains.
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Governance Token: ApeCoin DAO, the company behind ApeCoin, is governed by the token’s holders. As such, proposals are put forward by community members and then voted on by APE owners. This creates a clear incentive to own the token and will be one of the main drivers of demand going forward.
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NFT Rewards: Bored Ape Yacht Club has long been considered one of the best NFTs to buy and this was reinforced by the fact that all NFT holders received free APE tokens. In essence, this was akin to receiving free money, as NFT holders could immediately cash in their tokens for FIAT if they wished. However, given APE’s price prospects, it’s likely that holders will have retained their tokens for the time being.
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Metaverse Integration: Finally, the upcoming release of ‘The Otherside’ has fuelled rumours that ApeCoin may be integrated into this metaverse, which could make it one of the best metaverse coins to buy in 2022. Like other metaverse tokens, this could mean that APE will be used as a transactional token on The Otherside’s marketplace. Furthermore, APE may also be used to reward players if this metaverse incorporates P2E elements – although this is merely speculation at this point.
Summary
Ape Coin is a governance and utility token that grants its holders access to the ApeCoin DAO, a decentralized community of Web3 builders. The ApeCoin is used within the Ape ecosystem to empower a decentralized community, building for Web3. The ecosystem consists of ‘The APE Foundation,’ ‘The ApeCoin DAO,’ and the ‘Board.
