ApeCoin price recovery rally threatened, $16 68 million worth APE tokens due to flood markets in cliff unlock
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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. Bored Ape Yacht Club is the first NFT series in the ecosystem, consisting of 10,000 unique digital avatars featuring colorful cartoon apes.
On the contrary; the nearest support could be located at 3500 SAT, if the price drops further to create a new low, lower support could be found at 2700 SAT and below. Meanwhile, if the 9-day MA crosses above the 21-day MA, this could be a confirmation that the market may follow the upward movement. The ApeCoin price prediction reveals that APE is moving bullishly with a gain of 2.28%, as the coin prepares for a bullish cross. Animoca Brands, the crypto game maker, is developing a secret project in collaboration with Bored Ape Yacht Club. They’ve announced to integrate the APE token into this upcoming project. Developer nWay has also announced to use this token for its upcoming play-to-earn game.
The ApeCoin Foundation implements the governance decisions taken by the community. Cryptocurrencies can fluctuate widely in prices and are, therefore, not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Any trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Binance, the largest cryptocurrency exchange by volume, has launched USDⓈ-M BSV Perpetual Contract with up to 50x leverage, years after delisting the Bitcoin SV (BSV) spot trading pair. The move led to over a 30% surge in BSV’s price within the last hour.
- This may be a very new cryptocurrency, but it’s undeniably one to watch.
- It allows holders to participate in the ApeCoin DAO as a governance token.
- The BAYC and MAYC collections distributed over $800 million in assets to their owners as part of the available 150 million tokens.
- The DAO is guided by a council made of top professionals in the industry.
- It provides governance power to its community members and plans to deliver other facilities in the future.
As a result, DAO will have a special council comprising web3 veterans and gaming and technology thought leaders (the Board). Furthermore, ApeCoin will facilitate web3 in the APE network, allowing creators to sell their digital artworks and various industries, including games, entertainment, and events. To some extent, Yuga Labs’ BAYC project inspired the decentralized ApeCoin idea.
In addition, now you can use ApeCoin in Animoca Brands’ Benji Bananas game. Apecoin is a decentralized autonomous organization (DAO) that enables APE holders to participate in administrative decisions. After the DAO members vote on the proposals, they also implement the community-based administrative decisions. The APE Foundation created APE to be used within the expanding APE ecosystem. APE is managed by the ApeCoin DAO and is backed by the APE Foundation. 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.
Furthermore, there will be a six-month term limit for the DAO board members, and fresh members will replace them every year. Importantly, ApeCoin’s Board of Directors oversees several projects. Despite its fluctuating price and market size, it’s intriguing to see how ApeCoin (APE) will be employed in web3.
Those, who aren’t a member of the community, can purchase APE tokens from popular crypto exchanges. It’s affiliated with a non-fungible token (NFT) project known as the Bored Ape Yacht Club (BAYC), a massively successful and valuable collection launched by Web3 company Yuga Labs. First, it’s a governance token — it gives its holders the voting power where 1 APE equals 1 vote.
With APE, token holders can vote on governance proposals on the DAO and access exclusive features of the APE ecosystem, such as games, events, and services. For investors, ApeCoin provides investment exposure to the Web3 ecosystem built on the Bored Ape brand. ApeCoin’s primary use is as a governance and utility token within the APE ecosystem. It allows holders to participate in DAO governance votes while also offering access to members-only features of the ecosystem like games, events and other services. The token is launched by APE DAO, a decentralized organization responsible for the growth of the BAYC ecosystem.
Each of these unique digital collectibles features a different look, style and rarity. The collection showcases algorithmically generated profile pictures of cartoon apes. Acclaimed as a creator of the Bored Ape Yacht Club, Yuga Labs serves as a community member in the ApeCoin DAO. They have adopted ApeCoin as their primary token in the projects they undertake.
There will be the opportunity to delegate a vote to another user if a holder supposes that they have a better chance to promote the decision. APE is also a utility token that will give access to new products launched within the Ape Ecosystem, including play-to-earn games. 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.
Buying ApeCoin works in the same way as buying any other cryptocurrency. The main difference between buying Bitcoin or Ethereum and ApeCoin is that the latter is not supported by all leading cryptocurrency https://www.xcritical.in/ 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).
Neither ApeCoin nor ApeCoin DAO are controlled by this studio, Apecoin Foundation of the team behind BAYC, yet still Yuga Labs took active participation in creating APE. The token’s official website states that the asset was created by the ApeCoin DAO. A DeFi DAO that governs a protocol enabling the creation and management of tokenized crypto portfolios, bringing a new what is apecoin class of products to managers and investors. Discover Lido Finance, the top Liquid Staking protocol in DeFi with the highest TVL. Explore Lido’s thriving ecosystem and its position among Kassandra’s Whitelisted tokens for investment opportunities. The DAO manages the capital that the ApeCoin project has and decides how to use it for future projects related to the coin.