What Is ApeCoin? How Does APE Work? How To Buy And Store In 2023

When ApeCoin first airdropped on April 30, mostly to existing BAYC NFT holders, it gained up to $40 value on some exchanges, only to drop by 80%. This is not surprising, as people count on an initial price boost to immediately sell it for huge profits. Of course, the selloff pressure created then has a domino effect on suppressing the price.

ApeCoin is often described as a virtual currency, cryptocurrency, or digital currency. One of the primary drivers of ApeCoin’s price is the announcement of huge purchases by individual whales and institutional investors. Such an impact was felt on March 17 when ApeCoin became a crypto trading asset.

The idea for the apes in the Bored Ape Yacht Club came from the history of people in cryptocurrency calling themselves “apes.” Furthermore, 36 investors have invested heavily into Yuga Labs. The last company they bought was CryptoPunks, which happened on Mar. 17, 2022. Yuga Labs is a cryptocurrency and NFT development and marketing firm.

Easy Crypto wants to make it easy for anyone to get into the crypto market – no matter how much they have to invest. Based on the data of ApeCoin Airdrop, there are 98.11% people already claimed. APE was launched by the ApeCoin DAO, a decentralised what is apecoin autonomous organisation (DAO) that acts as a governing body in which all ApeCoin holders are members. Yuga Labs is led by CEO Nicole Muniz, who is a former partner at advertising company B-Reel and founder of her own boutique consulting agency.

APE can be used to purchase a variety of items, including digital and physical goods, services, and even other cryptocurrencies. Despite this, the project also held a public sale on the Binance exchange. On March 17, 2023, trading pairs such as APE/BTC, APE/BUSD and APE/USDT were opened for sale.

Investors across the world have put their money into these artworks and the buyers include the likes of Justin Bieber and Eminem. He manages the website and oversees the content to ensure it’s as informative as possible. Putting work aside, he has a great interest in personal finance and is also a keen motorcycle enthusiast. If you have a GPS smartwatch, you can track and map your route, distance traveled, and speed while doing any activity, such as running, walking, cycling, climbing, and so on. It is also used to count the number of calories burned throughout the day. These sensors mainly have light-sensitive elements called photodiodes.

These measurements, driven by these currents, are used to measure sleep, heart rate, and respiration data. If you are notified that you have been inactive or lethargic, blame the bioimpedance sensor. And if the watch also comes with a water reminder feature, it is possible only because of the bioimpedance sensor. Of course, the top-of-the-line smartwatches have a great amount of accuracy, but they aren’t as accurate as any chest-worn heart monitors.

It facilitates the growth and development of the APE ecosystem in a fair and inclusive way. It is tasked with ensuring that the community’s visions are implemented. The Board consists of 5 members from the tech and crypto community, including Reddit co-founder Alexis Ohanian. As a decentralized Board, the initial Board members will serve for 6 months before APE holders vote for new Board members on an annual basis. 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 (BAYC) NFT collections.

Another important highlight in discussions about 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.

• While the company that launches blockchain tokens doesn’t directly affect its price, it does so indirectly.
• As of now, ApeCoin APE has distributed around 150,000,000 tokens among the BAYC NFT holders.
• Holding APE makes users part of the Ape decentralized autonomous organization (ApeDAO), enabling them to vote on system improvement proposals and govern the community surrounding the token.
• As a matter of fact, the BAYC NFT collection registered around 335 NFTs in sale in the first few weeks of March 2022.

Its tokenomics, community support, and potential use cases make it a viable option for long-term investors. It can be used to purchase goods and services within the network, pay fees in the APE metaverse economy, or even for incentives. All of these make ApeCoin a sound investment for those who believe in its potential.

With ApeCoin set to be integrated with the upcoming metaverse Otherside, which could make it a high-in-demand metaverse coin this year. This will make ApeCoin a transaction token on metaverse marketplaces. If the Metaverse incorporates P2E elements, it might also be used for rewarding players. As an NFT basket of up to 20,000 mutated versions of the BAYC Apes, the MAYC helps onboard new members to the Ape community. Original BAYC NFT holders were handed 10,000 mutant serums in three tiers via airdrop to add the rarity of traits. The most basic sensor that’s present on every single wearable device – is the pedometer.

With a market cap of almost USD $2 billion on its first day of trading, ApeCoin definitely took the spotlight in the crypto space in recent weeks. ApeCoin (APE) is the native cryptocurrency token for the Bored Ape and Mutant Ape ecosystem. Due to the large following of the Bored Ape Yacht Club and YugaLabs’ plans to make ApeCoin the default currency for all their web3 projects, this cryptocurrency might stick around.

The ApeCoin ecosystem is made up of individual token holders, as well as a wide range of products and services that are using the cryptocurrency. Chief among its ecosystem members is Yuga Labs itself, which has adopted APE as the primary token for its projects. At a time when NFTs are still storming the crypto arena, ApeCoin has managed to steal the limelight since its appearance.