ApeCoin price today, APE to USD live price, marketcap and chart

The ApeCoin network incentivizes users to validate transactions by rewarding them with APE tokens. The collapse of crypto exchange FTX in November 2022 highlighted this risk when billions of dollars in user funds were lost. Hence, trading on a decentralized exchange (where you control the custody of your assets) is typically considered the safer option. Having said that, DEXs are unregulated, and there is no customer protection if funds are lost due to hacks. Hybrid exchanges combine a centralized order book for trade-matching with decentralized asset custody to allow digital asset investors to benefit from the best of both centralized and decentralized trading venues. Finally, make sure to transfer your APE tokens from the exchange to your personal, non-custodial crypto wallet that supports ApeCoin.

The ApeCoin team is also working on integrations with popular games and platforms so that users can use their NFTs across the web. ApeCoin is a decentralized cryptocurrency that enables instant, near-zero cost payments to anyone. 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 and verifies all the transactions on the network.

ApeCoin is an exciting new project that has the potential to revolutionize the way we interact with digital collectibles. If you’re interested in buying, selling, or trading NFTs, then ApeCoin is worth checking out. ApeCoin allows users to buy, sell, and trade digital collectibles.

However, the BAYC team envisions a much larger future for the Bored Ape ecosystem– and ApeCoin (APE) will serve several important functions. Meanwhile, although BAYC creator Yuga Labs doesn’t control ApeCoin, its founders did receive a significant portion of the total supply of APE and the company is listed as a contributor what is apecoin to the project. Lastly, it’s worth mentioning that an attack on the ApeCoin crypto airdrop was detected, and the attacker seized a large sum of tokens via a flash loan, leveraging BAYC NFTs, according to Certik Alert. A recent short-term price analysis of APE marked out $1.7 as a bullish target for near-term bulls.

• The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
• YugaLabs plans to take it even a step further and create an entire community based around web3 and blockchain technologies.
• Apecoin [APE] sunk below the $1.09 support level at press time, as the Non-fungible Token [NFT] related coin continued to hit new all-time lows.

Launch contributors are basically the early investors, who participated in the token reaching its soft cap, the minimum amount raised before a token is launched. This cohort of community members is likely to sell for some quick profit. It allows holders to participate in the ApeCoin DAO as a governance token. APE holders can also access exclusive features of the APE ecosystem, including games, merch, events, and services. APE is governed by the ApeCoin DAO and supported by the APE Foundation.

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. An administrative council within the APE Foundation (the “Board”), will carry out the decisions of ApeCoin DAO members. The Board is responsible for the day-to-day administration, bookkeeping, project management, and other tasks that ensure the Community’s ideas have the support they need to become a reality.

ApeCoin is a decentralized project inspired by Yuga Labs’ Bored Ape Yacht Club project. ApeCoin was founded to be used within the burgeoning APE Ecosystem, which is supported by the APE Foundation. The ApeCoin DAO aims to build and maintain the APE Ecosystem in a fair and inclusive way, providing an infrastructure for ApeCoin holders to collaborate through open and permissionless governance processes. Yuga Labs will receive 16 % of the supply, which they will be able to use to contribute to the development of the project.

For example, Rappers Snoop Dogg and Whiz Khalifa released an NFT music album together available for purchase with APE. TIME Magazine announced it will start accepting subscriptions paid with the token. However, the use of ApeCoin is not limited to projects developed by Yuga Labs. Animoca Brands’ Benji Bananas is a play-to-earn (P2E) game in which players can realize their gains in the form of ApeCoin.

The Foundation includes a 5-member board made up of luminaries in the world of crypto and tech. The Board is responsible for ensuring the community’s vision is being followed as the ecosystem continues to develop. APE holders vote to determine the Board’s membership on a yearly basis. 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. Other than this, ApeCoin is one such platform that is also known to provide access to certain parts of the Ecosystem that are otherwise unavailable including exclusive games and services. However, for third-party developers, ApeCoin is rather a tool used for participating in the ecosystem by incorporating ApeCoin into games, services as well as other projects.

Their notoriety amongst celebrities and high-profile NFT collectors has bolstered their astronomic rise. ApeCoin can be used to send and receive payments between individuals without the need for a third-party intermediary, to power decentralized applications, to raise funds for community-driven projects, and much more. The distribution of ApeCoins is designed to incentivize participation in the ape ecosystem while maintaining the long-term stability of the token.

Yuga labs and the team behind the Bored Ape Yacht Club have biggest plans related to web3, NFTs and the metaverse. ApeCoin has a supply of 1 billion tokens that are used for holders to vote in the project’s DAO. A DAO is a Decentralized Autonomous Organizationin which every decision within the ecosystem is voted on. ApeCoin has some actual utility within the APE ecosystem, so it’s more than just a speculative “meme coin”. However, its price is prone to dramatic fluctuations like many other cryptocurrencies, so as always it’s important to do your homework before investing.

Spend your APE or more than a dozen other cryptocurrencies as easily as cash. The BitPay Wallet is a non-custodial crypto wallet meaning you, and only https://www.xcritical.in/ you, control your ApeCoin. Before we look more into the ApeCoin (APE) and its utility and news, let´s first explore a bit the Bored Apes Yacht Club.

ApeCoin has a number of other advantages over traditional fiat currencies. For example, APE is not subject to inflation, as there are a fixed number of coins in circulation. This means that your savings will not be eroded over time by inflation. The main advantage of APEcoin is that it is backed by real assets, which are the ape population.