Will APEcoin increase by more than $ 20?
Article 1, 26/04/2022
What is Ape Coin?
Ape Coin is an ERC-20 token cryptocurrency on the Ethereum network. The supply is fixed, of 1 billion coins, which will be distributed gradually over 4 years, which helps the longevity of the project.
The remarkable rise in the price of ApeCoin continues in proportion to the growth of the ecosystem. The APE token is trading at $ 18.18, which is close to its all-time high of $ 19.50. It rose by more than 147% from its lowest level since March 17, bringing the total market capitalization to over $ 5.2 billion.
At launch, the price was $ 20 USD per coin, then dropped sharply to $ 6.48 the same day, but rose to $ 17.75 the next day. Volatility is huge but it seems that in the last week, the price is starting to consolidate with higher lows, which indicates that the number of buyers is increasing.
Why is ApeCoin growing?
ApeCoin is one of the newest cryptocurrencies to appear. It is the native token for the Bored Ape Yacht Club (BAYC), one of the largest NFT ecosystems in the industry. According to CoinMarketCap, it has a total market value of 1.35 million ETH, which is currently worth more than $ 3 billion..
The price of ApeCoin has risen sharply as ecosystem growth has accelerated. The developers hope that a metavers platform will stimulate the growth of the ecosystem. Investors believe that the ecosystem will lead to a greater growth of the metaverse and the NFT industry.
How to buy ApeCoin
There are a variety of things that have helped drive eToro to fame, in addition to its well-established branding, and these include its professionally designed user interface and generally low rates.
This platform is not generally considered to be the best option for those who are just starting out in their crypto journeys, as it aims to offer a more advanced set of features than some of the other existing cryptocurrency exchanges. However, everything this site has to offer can be a great choice for anyone with a little more knowledge and experience in trading - and it's worth considering if you want to find the perfect exchange for your needs.
To understand ApeCoin, you must first take a look at its basic Bored Ape Yacht Club protocol, a protocol that is part of the best-selling NFT series. Like most NFT collectibles, each token has a combination of features that add to its deficit. Specifically, you can find categories such as fur color, background color, outfits and accessories.
The benefits of ApeCoin
One of the main problems that ApeCoin is trying to eliminate is centralization. Unlike stocks, where traders are completely excluded from the decision-making process, DeFi (decentralized finance) protocols aim to empower all users and give them full rights in decision-making.
Those who own Bored Ape Yacht Club tokens have a special interest in keeping these tokens and joining the voting process. In addition, the project was built with the main concern of user security.
To participate, each ApeCoin holder must verify their wallet through an authentication process. The system also integrates the facility to take snapshots for voting.
The information provided should not be considered investment advice. Before making any investment in cryptocurrencies, you need to make sure that cryptocurrency trading is right for you.
