What Is ApeCoin? Utility, Staking, Tokenomics & More

At the time of press, APE had recovered slightly to trade at $5.20. Cointelegraph covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money. With ApeCoin what is 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.

This data is not readily available on coinmarketcap, coingecko or any free data provider. This is crucial information that one needs to understand before investing into a protocol. Fully diluted market cap measures a protocol’s value by taking the MAXIMUM SUPPLY OF A COIN and multiplying it by the price. Thinking in a probabilistic manner, the ones who are most likely to sell a coin are the VC’s of a project. The lowest probability of selling is a well-funded treasury and staking rewards. Some firms are dedicated to growing and building the project.

What is an ERC20 token?

Always conduct your own research and consult with a professional before making any financial decisions. ApeCoin tokenomics are heavily slanted towards the team, treasury, and Yuga Labs, the company behind the BAYC collection. Just under half of all APE tokens are delegated to the treasury. As much as 38% of them are slated for Yuga Labs and launch contributors, and 15% are destined for the airdrops. At the time of the unlock, the coins were worth approximately $41.7 million.

Not all of the ApeCoin funds were deployed – just slightly over a third of the one billion ApeCoins in circulation. The first and most obvious reason is to speculate on its price. The BAYC NFT collection was the most successful NFT project made. Its ascent in price gave https://xcritical.com/ traders a small fortune, partially out of sheer luck. Anything that is somewhat tied to apes has received a lot of speculative trading. ApeCoin can also be staked to earn interest on the ApeCoin platform, so owners have a further financial incentive to hold the token.

Public Sector Leads Transition to Digital Yuan Wage Payments

Thanks to ApeCoin , the token managed by the Bored Apes community and the Ape Foundation. In these lines, you will discover not only what ApeCoin is, but in general everything you need to know about the crypto of the Bored Ape community. The ultimate success of ApeCoin depends on its real-world adoption. Looking ahead, the token appears poised to benefit from increased utility in Web 3.0, especially when projects by Animoca Brands, NWayPlay and other game-makers are released.

At Kriptomat, it is our mission to bring the benefits of blockchain and cryptocurrency to everyone – and to do so in a manner that’s safe, secure, and incredibly user-friendly. Owning ApeCoins grants the right to participate in the autonomous and decentralised ApeDAO organisation. The DAO of the Bored Ape Yacht Club community, whose decisions are overseen by the Ape Foundation, serves to discuss and vote on ideas and new projects proposed by users.

Buy ApeCoin with Skrill or Neteller

Although Yuga Labs does not have direct ownership of ApeCoin, its founders did acquire a sizable share of the coin’s supply, and the business is listed as a contributor to the project. The company, also serving as a community member in the ApeCoin DAO, has adopted ApeCoin as its primary token in the projects they undertake. The cryptocurrency provides access to some parts of the ecosystem which are otherwise unavailable. These would include merch, events, games, and so forth – exclusive to holders. In a non-fungible token market, the Bored Ape Yacht Club collection by Yuga Labs emerged on NFT’s market. A pop-culture symbol, within a mere six months, it had become a cult icon.

117,500,000 unlocked at launch, then 7,343,750 unlocked per month for 48 months. The current price of ApeCoin is –, with a 24-hour trading volume of –. In the last 24 hours, the price of ApeCoin increased by 0.70%. With a circulating supply of 277,500,000 APE and a maximum supply of 1,000,000,000 APE, ApeCoin’s fully diluted market cap stands at –. ApeCoin APE cryptocurrency has been launched recently along with the ApeCoin DAO. It is a new governing body for all the Ape NFT holders.

Final Thoughts: The Future of ApeCoin

In today’s market, something like ApeCoin needs to show real value to remain relevant. The development of ApeCoin DAO, along with the new staking platform, has set ApeCoin apart from the rest of the rabble. The odds are stacked against ApeCoin, especially if the bear market is prolonged.

• The BAYC collection showcases apes that seemingly look bored.
• In the future, the Ape coin DAO will transition onto the blockchain and offer full proposal and voting inside of a self contained platform.
• As an ERC-20 governance and utility token of the APE ecosystem, ApeCoin is administered by a decentralized autonomous organization, or DAO.
• They selected ApeCoin as their main cryptocurrency for all the projects they undertake.

It also requires ApeCoin to buy NFT terrain or other digital goodies in the Otherside firmament. The standardized performance presented herein has been calculated by MoneyMade based on data obtained from the third-party platform hosting the investment and is subject to change. No representation or warranty is made as to the reasonableness of the methodology used to calculate such performance. Changes in the methodology used may have a material impact on the returns presented. The Content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Any references to past performance, regarding financial markets or otherwise, do not indicate or guarantee future results.

Tokenomics of ApeCoin

Then we started to see some buying action which has leveled off the price to about $13 at the time of writing on 25 March 2022. Since this is a new coin, on the market for barely 2 weeks, it is very hard to judge the stability of the price. ApeCoin will not be burned, and therefore its supply will never go down. The tokens are distributed among various groups within the ecosystem with varying lock-in periods to prevent their prices from falling drastically. Out of those mentioned above, 1 billion tokens, 26 percent, were unlocked immediately, while the others were to be unlocked gradually over 48 months. Additionally, the network has locked the tokens allotted to the launch contributors and the founders for 12 months.

What is the Metaverse?

ApeCoin’s long term Price Prediction below is a look at APE’s future prospect with regards to price. ApeCoin was last seen at $4.08, with a market cap of $1,503,105,041 and trading volumes of $45,212,558. APE’s price prediction is possible by analyzing historical price action, current developments and social sentiment from the community. This token occupies the 35th position in the ranking of cryptocurrencies on the CoinMarketCap website in terms of market value.