ApeCoin ($APE) - The image of the Metaverse or degens playground?

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Written by

#Club1BCH

1 year ago

In community: Just Write(e5e5)

Topics: ApeCoin, APE, NFT, Bored Ape Yacht Club, BAYC, ...

When $APE was listed to multiple DEXs or centralized exchanges, I didn't APE in! My investment was a calculated risk considering the success BAYC had with the NFTs.

If this will be the governance token, then will live to mirror the NFTs high demand. Swapped all the shit coins I had on Binance and went for the gamble. I wanted to buy cheap but as usual CZ's Binance was down when everyone was apeing into ... APE! Went all in when the price was already up by 700%, buying my ApeCoins at $8.27.

I wasn't so fortunate to buy before it one up 728%, mainly because Binance will always work bad when a top token is launched. Not saying that Binance is doing the games of whales, but I am thinking that Binance is doing the games of the whales! However, even buying at $8.28 was a good deal. Surprisingly, as I was expecting the dump, the $APE value doubled the next day!

Before the Otherside land deeds were live, the $APE price surged to $25.28. This was 3x the price of purchase, and I thought for a second to sell and cash out! I didn't and then I seen the price for token stumble down to 3 USD, when the market crushed for several days.

I was 208% in profit, and decided to HODL. Imagine selling a BAYC NFT for 20,000 - 25,000 USD for a 200% profit, only yo see the floor price going to half million dollars! This is why I decided to hold.

Hopefully few months (years) from now, I will see $APE growth as I watch ETC growing in my wallet. Many years ago, after selling some ETH, I decided to spend $11 to buy a handful of Ethereum Classic. The price was $1 then, and the price was 4278% more now! This is the HODL magic!

Coming back to our daily apes, I must admit that the Otherside video was pretty cool. The price for OtherDeeds was absolutely insane and probably just 1% of the investors will end up in profit. The FOMO, and lack of money, made me never consider investing.

When the minting went live... it broke the internet! More than $157 million worth of Ether permanently destroyed as the Metaverse madness hit new records. Yuga Labs sale of virtual land deeds for Otherside showed the ugly side of crypto. The company made $320 million selling NFTs and the Ethereum chain crashed. The MF gwei went to hell and back, as the system was unavailable for hours. More than $157,000,000 worth of $ETH was permanently destroyed in failed transactions. Yes .... 157 million USD gone! Absolutely insane!

Why the FOMO? Because Yuga Labs Otherside lands are limited to 55,000 NFTs, making the demand too high for the Ethereum blockchain to handle it. “We're sorry for turning off the lights on Ethereum for a while. It seems abundantly clear that ApeCoin will need to migrate to its own chain in order to properly scale.” - said Yuga Labs! Was "migrate to its own chain" another spoiler?

I am getting sick thinking that some paid between $6,000 and $14,000 in gas fees, when the price for Otherdeeds was $5.800. Then, getting disgusted thinking about all the failed transactions. Apes now sharing the top with OpenSea and Uniswap as Yuga Labs instantly become one of the largest sources of burned $ETH.

Well... maybe was better if I sold at $24 and bought the dip! Maybe was better if I never bought $APE? Time will tell and I am here for the long run. Never stop dreaming!