Why Apecoin Could Be A Smart Long-Term Investment

ApeCoin (APE) is the native cryptocurrency of the Bored Ape Yacht Club (BAYC) non-fungible token (NFT) collection. It is one of the most popular and inexpensive currencies on the market today. Its association with BAYC, one of the most exclusive and famous NFT collections, is one of the biggest reasons for its popularity. The symbiotic relationship between the two means that an increase in the value of Ape Coin also uplifts Bored Ape NFT sales volumes, and vice versa. This makes ApeCoin a high-potential cryptocurrency with good prospects for value growth in the future.

ApeCoin is also one of the few new cryptocurrencies that have entered the market with a high market cap, giving it visibility and credibility in the eyes of investors. It is listed on all major crypto exchanges, including Coinbase, Binance, and eToro, and is easily accessible to investors. Additionally, ApeCoin is part of the Ethereum family, which provides it with increased liquidity and makes it an attractive asset for investors.

ApeCoin has also expanded into the fast-growing Metaverse space, with the announcement of the Otherside Metaverse, where it will be used as an in-game currency. As the number of games in this Metaverse expands, so will the utility value of ApeCoin.

While ApeCoin has a lot of potential, it is important to remember that it is a highly volatile and unregulated investment. The cryptocurrency market is extremely volatile, and it is difficult to predict whether ApeCoin will be a good long-term investment. It is crucial to conduct thorough research and understand the risks involved before making any investment decisions.

ApeCoin's association with Bored Ape Yacht Club NFTs

ApeCoin (APE) is the native token of the Bored Ape Yacht Club (BAYC) ecosystem. It is a cryptocurrency that powers the community and allows holders to participate in governance decisions through the ApeCoin decentralized autonomous organization (DAO). The Bored Ape Yacht Club is a collection of non-fungible tokens (NFTs) created by Yuga Labs, featuring digital ape avatars. The popularity of the Bored Ape Yacht Club has contributed to the success of ApeCoin, with its unique and highly sought-after collection of NFTs.

ApeCoin is closely associated with the Bored Ape Yacht Club and its NFTs. In fact, one of the key components of the BAYC ecosystem is ApeCoin. The token was airdropped to Bored Ape and Mutant Ape NFT holders on March 16, 2022, and it serves as a governance token, allowing holders to vote on the project's roadmap and upcoming proposals. This symbiotic relationship between ApeCoin and the Bored Ape Yacht Club has resulted in increased sales volumes for both the token and the NFTs. The demand for Bored Ape NFTs has been boosted by celebrity purchases and endorsements, further contributing to the success of ApeCoin.

The Bored Ape Yacht Club has gained significant popularity, with its fun and unique collection of NFTs. This popularity has extended to ApeCoin, which has become one of the top cryptocurrencies by market capitalization. ApeCoin's market cap has provided visibility and credibility to the token, making it easily accessible to investors on major crypto exchanges such as Coinbase, Binance, and eToro. The association with Yuga Labs, a prominent presence in the NFT space, has also contributed to ApeCoin's success.

ApeCoin has a total supply of 1 billion tokens, with 62% allocated to the ecosystem fund, 16% to Yuga Labs and charities, 14% to launch contributors, and 8% to BAYC founders. The token has experienced price fluctuations since its establishment, with an initial surge in value followed by a drop in price. Despite these fluctuations, many in the BAYC community remain optimistic about the token's long-term potential. As the Bored Ape Yacht Club continues to expand, new developments and partnerships could drive increased demand for ApeCoin, potentially leading to price increases in the future.

In summary, ApeCoin's association with the Bored Ape Yacht Club and its NFTs has been a significant factor in its success. The popularity of the Bored Ape Yacht Club has boosted the visibility and demand for ApeCoin, and the symbiotic relationship between the two has resulted in increased sales volumes for both. With the continued growth of the Bored Ape Yacht Club and the expanding metaverse space, ApeCoin has the potential for long-term growth and success.

Its market cap

ApeCoin's market cap has been volatile since its launch in March 2022. Its market cap reached $2 billion on its first trading day and doubled to $4 billion the following day. In April 2022, ApeCoin's market cap surpassed $6 billion, ranking among the top 30 largest market cap projects. As of July 2024, the market cap stands at $535.21 million, with a 24-hour trading volume of $81.76 million. ApeCoin's market cap is influenced by its association with the Bored Ape Yacht Club and its presence on major crypto exchanges. Its market cap is expected to grow with the anticipated expansion of the Bored Ape Yacht Club and potential new developments and partnerships. ApeCoin's market cap visibility and credibility are enhanced by its high market cap, making it easily noticeable by investors in a saturated market.

Listed on major crypto exchanges

ApeCoin's availability on major crypto exchanges is a significant advantage for the cryptocurrency. When it was initially launched, it was instantly listed on all the major exchanges, including Coinbase, Binance, and eToro. This gave ApeCoin credibility from its first day of trading, and it became one of the best-performing cryptocurrencies in March/April 2022 despite the overall bearish crypto market trend.

The fact that ApeCoin is listed on all major exchanges could continue to benefit the cryptocurrency. The market is still bearish, but analysts are optimistic that it will rebound. ApeCoin is well-positioned to benefit from new investments as it is a popular altcoin that is easily accessible on all major exchanges.

Binance currently has the most liquidity for ApeCoin, with the most active trading pair being APE/USDT. However, other top exchanges such as Coinbase, Crypto.com, Gemini, and Webull also have sufficient liquidity for retail traders.

ApeCoin is also available on decentralized exchanges like SushiSwap and WhiteBIT, and can be purchased on eToro, which is considered one of the easiest ways to buy the cryptocurrency.

Part of the Ethereum family

ApeCoin is an ERC-20 token, a specific type of custom-made cryptocurrency on the Ethereum blockchain. As an ERC-20 token, ApeCoin is secured by Ethereum's proof-of-work (POW) consensus mechanism. Ethereum-based tokens like ApeCoin have the advantage of being more liquid than tokens on Ethereum's competitors. This is because a lot of cryptocurrency trading takes place on decentralised exchanges, and all the top decentralised exchanges, from Uniswap to Sushi Swap, run on the Ethereum blockchain. This is a plus for ERC-20 tokens like ApeCoin.

Multiple stablecoins also run on the Ethereum blockchain, which means investors can easily trade ApeCoin for any of them, making it an even more liquid and attractive asset for investors. Some of the largest cryptocurrencies in DeFi also run on Ethereum, so there are plenty of opportunities for investors to put their ApeCoin to work and earn a passive income.

Being an ERC-20 token makes ApeCoin one of the best cryptocurrencies to invest in today. The advantages that the Ethereum blockchain confers upon ApeCoin are augmented by the fact that ApeCoin is popular in its own right, thanks to its association with the Bored Ape Yacht Club.

ApeCoin is also now in the fast-growing Metaverse space. In April 2022, ApeCoin became the largest Metaverse cryptocurrency after rallying on news of the Otherside Metaverse. The Otherside Metaverse is one of the most talked-about projects in the crypto world, and it has the potential to challenge the established metaverse projects Decentraland and The Sandbox. If Otherside becomes popular, it will naturally affect the demand for ApeCoin, which is the official currency of the metaverse.

Growing ecosystem

ApeCoin is the native and utility token of the Bored Ape Yacht Club (BAYC) ecosystem and the governance token of the ApeCoin Decentralised Autonomous Organisation (DAO). The BAYC ecosystem consists of ApeCoin holders as well as other related products and services, such as NFT collections and metaverses.

The ApeCoin DAO is a decentralised autonomous organisation that allows ApeCoin holders to make collective governance decisions, such as casting votes and deciding on issues like fund allocation, rule framing, partnerships, and project selection. The DAO is managed by a board of members from the technology and crypto community, who are voted in by DAO members.

The APE cryptocurrency is an ERC-20 token designed on the Ethereum protocol. It provides holders with access to certain exclusive parts of the ecosystem, such as games, merchandise, events, and services. It can also be incorporated into other services, games, and projects.

The APE ecosystem is growing with new projects and partnerships. In April 2023, the ApeCoin DAO approved the Ape Accelerator, a launchpad for community-approved projects that focus on improving the value of the BAYC NFT collection and other projects that use ApeCoin. The launchpad will initially operate on the Ethereum network and feature a tiered structure for participation based on users' APE stakes and qualifying NFT holdings.

The Otherside Metaverse is another significant addition to the APE ecosystem. Otherside is a gamified, interoperable metaverse being developed by Yuga Labs, the creators of BAYC. ApeCoin will be used as the primary medium of exchange on the Otherside platform, allowing users to purchase in-game resources and pay for privileges and character improvements.

Amonicabrands is another example of a company integrating ApeCoin into its game-fi platform. Their Benji Bananas decentralised game rewards players with in-game tokens that can be exchanged for ApeCoin.

The growing ecosystem of the APE token is driven by its utility within the BAYC ecosystem and its expanding list of use cases, including governance, payments, and rewards.

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