Coinlore provides independent cryptocurrency / coin prices calculated by its own algorithm, and other metrics such as markets, volumes, historical prices, charts, coin market caps, blockchain info, API, widgets, and more. We also gather additional information from different sources to ensure we cover all necessary data or events. As of Oct 22, APEcoin has a market capitalization of $412.2 Million and is ranked #71 among all cryptocurrencies.
It is used to power the ApeSwap decentralized exchange and can be used to trade a variety of assets, including other cryptocurrencies, commodities, and fiat currencies. The APE coin has a fixed supply of 1 billion APE and is trading on several exchanges, including Binance, Huobi, and OKEx. ApeCoin is a very recent cryptocurrency with a lot of its features and functionality still to come. Despite that, the token is already doing well and has significant backing through its parent companies and platforms — both financial and socially, with many backers in the form of household celebrity names. ApeCoin is set to be used across the DeFi space, as a utility token in the decentralized community, as in-game crypto for Yuga Labs’ games as well as those from other developers, and more. Thanks to its adaptability, ApeCoin could become a crypto used across many blockchains and platforms, potentially bringing more unity to the space and more value to itself and its ecosystem.
ApeCoin was founded by Reddit co-founder Alexis Ohanina, Amy Wu, part of the FTX team and finally Yat Siu. Yat Siu is the co-founder of Anomica Brands, a gaming related company in the crypto industry. Meanwhile, Maaria Bajwa and Dean Steinbeck have also joined ApeCoin’s codre team. ApeCoin’s supply is fixed at 1 billion APE, meaning tokens cannot be mined or burned. If you do not own BAYC/MAYC NFT, you can buy, store, swap and spend ApeCoin in your BitPay Wallet.
ApeCoin has a total supply of 1 billion tokens and is controlled by the community. ApeCoin (APE) was created in January 2022 by the team at Yuga Labs. The project was developed to reward users for participating in the Bored Ape Yacht Club (BAYC) NFT collections. It also has the potential to be used as a currency on the Ethereum blockchain. The team behind ApeCoin includes experienced developers and entrepreneurs who have been involved in developing other popular projects such as CryptoPunks and Meebits.
The ApeCoinDAO and the Ape Foundation are two entities working together to ensure the future of ApeCoin rolls out as the community envisions it. For each Bored Ape NFT a holder possesses, they may “adopt” a selected Club Dog NFT for the cost of gas. Similar to apes, the 10,000 BAKC NFTs exhibit a variety of traits and oddities.
- ApeCoin seems to have stabilized but it’s still very early days in the token’s life.
- Use the BitPay Card to instantly convert APE to cash online, in-store or at compatible ATMs around the world.
- ApeCoin allows users to invest in various NFTs without purchasing them directly.
- As the serum is used up, each BAYC can only make one mutant using a single variety of it.
- Next chunk of the supply consists of around 14 % and is allocated to the launch contributors.
The current CoinMarketCap ranking is #76, with a live market cap of $412,764,943 USD. ApeCoin is the APE Ecosystem’s governance token, allowing token holders to participate in ApeCoin DAO and giving its participants a shared and open currency that can be used without centralized intermediaries. 62% of all ApeCoin was allocated to the Ecosystem Fund, which will support community-driven initiatives as voted on by ApeCoin DAO members. The hottest topic in the cryptocurrency world is now full of one topic and that is ApeCoin (APE) and its new release. This token, based on the Bored Apes Yacht Club, one of the most popular NFT collections in the history of cryptoworld, is a newly introduced token that has brought several important news and is gaining a lot of attention. Thus, we have decided to dedicate an article on this topic where we will introduce ApeCoin, its team and overall structure as well as tokenomics and utility of the token.
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. YugaLabs announced that the token will also be used as the governance token for the ApeCoin DAO. Holders will be able to vote on relevant topics ranging from the allocation of funds to what future endeavors the DAO should embrace. ApeCoin (APE) is an Ethereum-based token linked to the Bored Ape Yacht Club NFTs. Bored Ape Yacht Club NFTs are one of the most successful NFT projects to date.
All BitPay merchants have the option to accept ApeCoin as payment, opening up thousands of new ways to use and spend the token. You can send ApeCoin payments from any compatible wallet, including the BitPay Wallet. Use the BitPay Card to instantly convert APE to cash online, in-store or at compatible ATMs around the world. Buy gift cards for your favorite brands and shops from the app or extension. ApeCoin also gives access to certain parts of the Ecosystem that are otherwise unavailable, like exclusive games and services. For third-party developers, ApeCoin is a tool to participate in the ecosystem by incorporating ApeCoin into services, games, and other projects.
ApeCoin allows users to invest in various NFTs without purchasing them directly. Instead, users can purchase ApeCoin, which can then be used to invest in any number of NFTs. This gives users https://www.xcritical.in/ a way to diversify their investment without putting all of their eggs in one basket. ApeCoin can be staked to earn additional APE tokens, making ApeCoin a yield-generating crypto asset.
The four founders of Yuga Labs and the BAYC were given 8% of all APE tokens. Finally, 1% was donated to the Jane Goodall Legacy Foundation to aid in its efforts to promote conservation, educational programs, and research of environmental initiatives. The BAYC and MAYC collections distributed over $800 million in assets to their owners as part of the available 150 million tokens. Eventually, every BAYC owner received 10,094 tokens worth between $80,000 and $200,000.
The world of decentralized finance (DeFi), from decentralized applications (DApps) to the whole decentralized community, is expanding at an incredibly rapid rate. These developments can be seen in the Metaverse, blockchain gaming, digital art, and other decentralized spaces. Each of these new platforms needs tradeable assets and governance tokens to run and expand, and DeFi provides the solution.
Moreover, you can use APE to participate in the ApeCoin DAO if you’d like to have a say in the future of the APE ecosystem. ApeCoin is an ERC-20 token operating on the Ethereum blockchain that enables holders to gain access to a variety of products and services offered by the APE ecosystem and vote on the future direction of the Web3 project. Unlike traditional brokerage firms, cryptocurrency exchanges are not members of the Securities Investor Protection Corp. what is apecoin (SIPC). Therefore, unless user terms specify otherwise, investors with cryptocurrency assets commingled on a custodial cryptocurrency exchange could potentially lose their funds as unsecured creditors. Investing in cryptocurrencies, decentralized finance (DeFi), and other initial coin offerings (ICOs) is highly risky and speculative, and the markets can be extremely volatile. Consult with a qualified professional before making any financial decisions.
The decentralized autonomous organization for the project, or the ApeCoin DAO, is a powerful community formed of founders, Bored Ape NFT holders, ApeCoin holders, Bored Ape Yacht Club (BAYC) members, and more. The ApeCoin DAO will be completely decentralized, with the founders intentionally not including themselves on the ApeCoin DAO board. To purchase APE coins on a P2P exchange, you first need to choose a marketplace that supports ApeCoin, sign up for the platform, and complete the verification process. Next, scroll through the available offers to buy ApeCoin for a payment method that works for you. These marketplaces typically use escrow to enhance security, but it’s still advisable to only trade with users with high trust ratings.