What is ApeCoin? APE Learn Center

The main difference between buying Bitcoin or Ethereum and ApeCoin is that the latter is not supported by all leading cryptocurrency exchanges. ApeCoin (APE) is a utility and governance token that was created to empower the community surrounding the APE ecosystem, which was built on the back of the Bored Ape Yacht Club (BAYC). The Mutant Ape Yacht Club (MAYC) is a group of 20,000 apes that have undergone mutations since the original BAYC apes were created. 10,000 mutant serums have been airdropped to first BAYC NFT holders, having three levels of serums increasing the uniqueness of traits. As the serum is used up, each BAYC can only make one mutant using a single variety of it. As they progressed through the serum levels, BAYC bearers might create a wide range of mutant apes.

It is planned to grow even more decentralized over time and supports community-led governance. The Foundation handles day-to-day administration, bookkeeping, and project management, among other things. When the company announced the minting of 55,000 parcels of digital real estate NFTs called “Otherdeeds,” they were priced in APE. In total, Yuga Labs generated more than $300 million through the sale—all transacted in ApeCoin. It enjoyed a brief period of glory when its price touched $28 just last year. After that, Apecoin could never gain momentum and today’s trading price of $1.79 is a far cry from Apecoin’s earlier peak.

How To Buy ApeCoin

The team behind ApeCoin includes experienced developers and entrepreneurs who have been involved in developing other popular projects such as CryptoPunks and Meebits. ApeCoin was created to provide a simple, efficient, secure way to trade digital assets. This decentralized cryptocurrency enables instant, near-zero cost payments to anyone.

Alternatively, you could deposit APE tokens on Binance to make use of Binance Earn accounts that enable you to earn yield on your ApeCoin holdings for a set period of time. While the yields offered are high, they come with the risk of leaving your funds on a centralized exchange, thus giving up control over your crypto. Buying ApeCoin works in the same way as buying any other cryptocurrency.

The initial price surge was largely a result of Tron CEO Justin Sun’s intense marketing efforts, which created a substantial buzz around Tron becoming “the future of smart contract platforms”. Tradecurve is challenging the status quo and positioning itself at the vanguard of a crypto exchange revolution. Casting off the often-criticized KYC norms, this platform champions the what is apecoin ethos of anonymous trading so that users can buy and sell crypto without the fear of censorship. It is worth mentioning that, the APE Foundation was gifted a 1 of 1 non-fungible token (NFT) by Yuga Labs, the creator of Bored Ape Yacht Club. Yuga Labs is known to have conveyed all rights as well as privileges to this NFT and its underlying artwork to the APE Foundation.

It is powered by the ApeCoin blockchain, a distributed ledger that records all the transactions made on the network. The ApeCoin blockchain is maintained by a network of computers called nodes, spread across the globe. Each node in the network stores a copy of the blockchain https://www.xcritical.in/ and verifies all the transactions on the network. When a transaction is made, it is broadcast to all the nodes in the network, which then verify the transaction and add it to the blockchain. APE is also a tool for third-party developers to participate in the APE ecosystem.

How does APE work?

Bored Ape Yacht Club is the first NFT series in the ecosystem, consisting of 10,000 unique digital avatars featuring colorful cartoon apes. One of the main objectives is to turn it into a token that can be used by numerous NFT projects and community members across several multiverse worlds, creating a broader in-game economy and ecosystem. ApeCoin launched on March 17th, 2022 to power the entire BAYC ecosystem and serve functions like being the governance token for the ApeCoin DAO (Decentralized Autonomous Organization). Bored Apes have enjoyed tremendous success in the NFT market– seeing a rise from a minting price of 0.08 ETH to an average all-time high of 152 ETH, or $434,000 in April 2022. However, the BAYC team envisions a much larger future for the Bored Ape ecosystem– and ApeCoin (APE) will serve several important functions.

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. These can range from proposals related to brand decisions, ecosystem fund allocation, informational and resubmission proposals and more. Thus, having the APE token means that you are a full member of the APE DAO community and have equal voting rights as other members of this community.

Also, Tradecurve Markets (TCRV) is simplifying trading, attracting traders away from Binance and Coinbase, with analysts predicting a bright future for the token. The decision to read hereinafter is purely a matter of choice and shall be construed as an express undertaking/guarantee in favour of Hindustan Times of being absolved from any/ all potential legal action, or enforceable claims. The content may be for information and awareness purposes and does not constitute a financial advice. Many holders of ApeCoin are currently searching for a new project to invest their capital in, and Everlodge seems to be the most promising option.

ApeCoin DAO members vote as a community on issues impacting the direction of the ecosystem’s growth, from how funds are allocated, how rules are enforced, what partnerships to pursue and which projects to undertake. After the start of the token on Jul 31, 2020, on the Ethereum platform, more than 660 wallets owned/owns APE also 6,430 successful token transactions have been recorded till today. CoinCentral’s owners, writers, and/or guest post authors may or may not have a vested interest in any of the above projects and businesses. None of the content on CoinCentral is investment advice nor is it a replacement for advice from a certified financial planner. José is a copywriter and journalist with over 4 years of experience in the crypto field.

The ApeCoin community works on several projects to bring blockchain technology to the masses. These projects include a decentralized exchange, a mobile wallet, and a point-of-sale system. ApeCoin is a decentralized, peer-to-peer digital currency that enables instant, near-zero cost payments to anyone in the world. It is an open source project with a strong community that is building the APE ecosystem. The ApeCoin community is passionate about bringing blockchain technology to the masses and is working on several projects to make this happen. ApeCoin has a total supply of 1 billion tokens and is controlled by the community.

• There is a possibility of a price rebound if there is an increase in activity and interest within the ApeCoin ecosystem, but it seems unlikely at this point.
• At its core, ApeCoin is a decentralized platform that allows for creating, exchanging, and managing digital assets.
• Finally, make sure to transfer your APE tokens from the exchange to your personal, non-custodial crypto wallet that supports ApeCoin.
• With these features, ApeCoin has the potential to change the way we use the internet and could revolutionize the way we interact with the digital world.

Disheartened by years without returns, many are now flocking to the Tradecurve presale to grab the last remaining phase-5 tokens. Further unsettling Tron’s standing is the unconfirmed news of its CTO’s arrest. It seems that Tron cannot escape bad news, and this is causing a slow bleed in Tron’s price – down 2.80% this week. The sale of 30 million tokens during the first week of phase 5 with a price of $0.025 stands testimony to the crescendoing momentum during the presale. With tokens set to rise to $0.029 during the sixth phase, the rush to buy TCRV is reaching a fever pitch. As mentioned at the very beginning, crypto is a highly volatile marketplace and is extremely uncertain.

Moreover, to pass an exchange’s KYC (Know Your Customer) process, you will also need to provide a copy of your government-issued ID and proof of address. You may also be asked questions about your income and your level of expertise as an investor. Let’s take a look at the requirements to open an account on a crypto exchange. It is available on almost all reputable exchanges, including Binance, OKX, Bybit, and FTX. Comparatively, DigitalCoinPrice echoed a bullish ApeCoin crypto price forecast, predicting that the token’s value will grow over the next few years.

This should in essence be given to the team behind the project that helped with the launch of ApeCoin. This part has also a pretty interesting lock-up schedule, which can be more examined here. This NFT collection is so popular that it has recorded the overall sales volume of its pieces is recorded to be over 1 billion dollars. Moreover, with several famous celebrities such as Justin Bieber, Eminem, Paris Hilton, Snoop Dogg, and Mark Cuban, buying Bored Apes, this NFT collection was always sure prone to have a lot of publicity attention and craze. However, the latest news surrounding this project is pushing this collection, as well as its new token, to far greater heights. The Everlodge Rewards Club is a compelling feature that adds significant value to the Everlodge ecosystem.