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

From a governance perspective, holders of APE can become members of the ApeCoin DAO which vote on decisions impacting the ecosystem’s https://www.xcritical.com/ functioning and growth. This might include anything from which partnerships the ecosystem should pursue to how funds are allocated. These decisions are then implemented by the ApeCoin Foundation, the 5-member Board acting as the DAO’s legal representative. It’s difficult to predict the exact price of ApeCoin in the future as it is subject to market fluctuations and various other factors. However, it is important to note that the cryptocurrency market is highly volatile and unpredictable, and prices can change rapidly in a short amount of time. While some investors may have optimistic predictions for ApeCoin, it is important to do thorough research and approach any investment decision with caution.

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The ApeCoin DAO is voting Board members annually, what does ape mean in crypto with its current board consisting of five people. Three of them were selected in an eight-week election voting by the ApeCoin DAO members. You’re able to vote on the allocation of funds from the community treasury or improvement proposals (AIP, Ape Improvement Proposal) for example.

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• In order to receive ApeCoins, the receiver must have an ApeCoin wallet address.
• ApeCoin has a strong focus on community and building a robust ecosystem for developers and users.
• Its integration into the APE ecosystem underscores its commitment to advancing the Web3 space, particularly through the promotion of applications on the Ethereum network.
• This occurred during a time of heightened market activity and excitement around the ApeCoin ecosystem and its unique features.
• Though it is unclear as to how the structure will look like, power distribution DAO is usually directly correlated to the number of ApeCoin a member holds.
• ApeCoin has a fixed total supply of 1 billion APE tokens, which cannot be minted or burned.

Yuga Labs and Charity make up 16%, or 160 million $APE, of ApeCoin’s total token supply. 15%, or 150 million $APE, went to Yuga Labs and was locked for a 12-month period, ending in March 2023. But it’s not just the metaverse, ApeCoin has many other uses within the blockchain gaming ecosystem. Overall, 15% of the maximum supply was ready to be claimed by holders on launch day.

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Zengo makes it simple and secure to buy, sell, send, or trade APE in just a couple of taps. No minimums, maximums, or hidden fees, Zengo keeps you in control while making trading simple. APE is an ERC-20 token that runs in the APE Foundation ecosystem facilitating governance and actions in the ecosystem. Yes, ApeCoin has a Twitter account and the APE community forum with discussions about governance.

What You Need To Open a Cryptocurrency Exchange Account

Buy, sell, store and trade APE from the secure location of your Tap app. If you’d like to become an ApeCoin holder or incorporate APE into your investment portfolio you can do so easily with the Tap mobile app. Through your account, you can gain access to the APE market using a range of supported crypto and fiat currencies. ApeCoin was created by Yuga Labs, inspired by the Bored Ape Yacht Club project. Supported by the Ape Foundation, ApeCoin is governed by the ApeCoin DAO which creates a framework for permissionless governance processes.

How Does the Price Performance of ApeCoin Compare Against Other Cryptos?

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. Holding APE makes users part of the Ape decentralized autonomous organization (ApeDAO), enabling them to vote on system improvement proposals and govern the community surrounding the token. This represented one of the most valuable airdrops in crypto history at the time. In fact, each holder of a BAYC NFT was able to claim over $100,000 worth of APE at launch.

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Not every currency is supported, but keep checking in because new assets are being added often. Zengo provides the most secure payment gateway, which makes it easy to purchase APE tokens with fiat currency, like Euros, US Dollars, and Pound Sterling. Zengo is one of the safest and most user-friendly wallets on the market. The Zengo wallet is flexible, intuitive and prioritizes security and guaranteed recovery, making it a trusted choice for crypto traders around the world. Yuga Labs has indicated that its current focus will be to use APE in the popular play to earn (P2E) model type games that it will help develop in partnership with Animoca Brands, a developer of mobile P2E games. Regulatory changes are another potential cause for ApeCoin’s decline.

ApeCoin and the Otherside Metaverse

The BitPay Wallet is a non-custodial crypto wallet meaning you, and only you, control your ApeCoin. In addition to governance, ApeCoin has also been designed for utility where the token can be used for transactions and payments within Web3 applications. It’s a decentralised token that can be used for payments and transaction within Web3 apps.

This was a challenging time for the broader crypto market, with many tokens experiencing significant price drops due to various factors, including regulatory uncertainty and market sentiment. The token has experienced both significant price spikes and prolonged price dips. In the first few months of its launch, ApeCoin experienced a rapid price increase, reaching its all-time high in a short time frame.

For example, in Animoca Brands’ Benji Bananas, a play-to-earn (P2E) mobile game, the coin is used as an incentive for players. They can earn special tokens while playing and exchange these tokens for ApeCoin. Moreover, the token’s availability on major cryptocurrency exchanges enhances its accessibility to a broader audience, facilitating its acquisition and use within the ecosystem.

The coin is intended to provide an outlet for the emotions and sentiments of investors in this rapidly evolving market. ApeCoin seeks to offer its users a new way of investing, blending humor with financial options. It is an emerging player in the world of cryptocurrency, offering investors the opportunity to participate in the rapidly growing market for NFTs and other digital assets. Second, the token is supposed to be a unit of account for all sorts of transactions in the BAYC ecosystem.

ApeCoin (APE) is the native currency of the Bored Ape Yacht Club (BAYC) metaverse. While the Bored Ape Yacht Club is a non-fungible token (NFT) collection that comprises 10,000 images of apes, APE is a fungible ERC-20 token with a maximum supply of 10 billion. ApeCoin is the native cryptocurrency for the APE ecosystem, which includes the ApeCoin DAO and all services and products utilizing APE. Yuga Labs, the creator of the famous Bored Ape Yacht Club (BAYC) NFT collections, has adopted APE as the primary token for all new products and services. 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.

On the first day of trading, ApeCoin’s price shot up to 17.75 USD, while correcting to below 10 USD in the following days. Further enhancing security, APEcoin.dev incorporates encryption and privacy features to protect user data and transactions. APEcoin.dev implements several security measures to ensure the safety and integrity of its platform and token. Initially, the project’s codebase is managed within a private repository, which restricts unauthorized access and modifications, enhancing the security of the development process. This approach allows for controlled updates and thorough review processes, minimizing the risk of vulnerabilities. Holders of the NFTs in the Bored Ape Yacht Club metaverse could claim 150 million APE tokens from the ApeCoin site for the first 90 days after launch.

While purchasing ApeCoin on a crypto exchange is arguably the simplest option, you could also purchase APE on a peer-to-peer (P2P) exchange or a decentralized exchange (DEX). The Bored Ape Yacht Club (BAYC) is a highly popular NFT collection composed of 10,000 unique images of cartoon apes. During the height of the NFT boom in 2021, Bored Ape emerged as one of the most popular NFTs, with rare Apes selling for hundreds of millions of dollars.

Consult with a qualified professional before making any financial decisions. This article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies nor can the accuracy or timeliness of the information be guaranteed. Every holder of ApeCoin is eligible to become a member of the ApeCoin DAO. $APE serves as a governance token, being a member of the DAO allows you to vote on every major decision, shaping the future of the token. The weight of your votes will be based on the share of tokens you own, so the more tokens — the more voting power one has.

Its unique features and strong community have contributed to its success, resulting in growing interest from investors and traders alike. When compared to other cryptocurrencies, ApeCoin’s price movement is influenced by various factors, including market trends, news and announcements, and global economic events. Alternatively, you could purchase ApeCoin on a decentralized exchange by swapping another cryptocurrency for it.

Additionally, the project has established a bug bounty program, encouraging the community and security researchers to report any discovered vulnerabilities in exchange for rewards. This proactive approach not only helps in maintaining the platform’s security but also fosters a collaborative relationship with the broader security community. Those who held a Mutant Ape, a derivative NFT issued to BAYC holders in 2021, could claim 2,042 APE tokens. Holders of both Bored Ape NFTs and Kennel Club NFTs, another derivative NFT project, could claim 10,950 tokens. Those who held a Mutant Ape NFT and a Kennel Club NFT were entitled to 2,898 tokens.

ApeCoin (APE) is an ERC 20 token inspired by the Bored Ape Yacht Club NFT project. Its primary use case is as a governance token, allowing APE holders to vote on various community proposals. ApeCoin serves as a decentralized protocol layer specifically designed for community driven initiatives, with the main goal to deliver power to the community of APE holders. As a governance and utility token, ApeCoin serves multiple purposes in the APE ecosystem. ApeCoin grants token holders the ability to participate in the governance of the DAO and provides them access to exclusive features of the ecosystem, including games, events, merchandise, and services. Firstly, it acts as a governance token within the APE DAO (Decentralized Autonomous Organization), allowing token holders to participate in decision-making processes that shape the future direction of the ecosystem.