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ApeCoin

ApeCoin: everything you need to know about APE

Axel van den Boogaard

Axel has been immersing himself in the world of crypto and blockchain for quite some time, which he then translates into understandable articles.

ApeCoin facts

Abbreviation

APE

Category

NFT

Founder(s)

Yuga Labs

Blockchain

Ethereum

Protocol

Delegated Proof of Stake

Launch date

March 2022

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What is ApeCoin?

ApeCoin (APE) is a cryptocurrency based on the Ethereum blockchain. The platform aims to provide a fun and playful approach to cryptocurrency while enticing investors with its unique and appealing depiction of an ape. 

ApeCoin is specifically designed for the meme culture. 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. 

How does ApeCoin work?

ApeCoin operates on the Ethereum blockchain and utilizes smart contracts for processing transactions. The goal of ApeCoin is to engage with meme culture and provide investors with a new and amusing way to manage their wealth. 

With ApeCoin, users can buy, hold, and trade APE tokens on cryptocurrency exchanges. The use of APE tokens within the platform is versatile, ranging from conducting transactions to using them as collateral for Decentralized Finance (DeFi) applications. 

Additionally, users can stake APE to participate in the validation process of the ApeCoin network and earn rewards in APE. This enhances network decentralization and security, making the ApeCoin platform a stable and reliable environment for its users. 

The APE token

ApeCoin serves as a utility token for the APE ecosystem. Token holders have a stake in the organization's development. They can use it to purchase new products and services, such as a play-to-earn game being developed by BAYC and nWay. Furthermore, ApeCoin is accepted in Animoca Brands' Benji Bananas game. 

A select group of Web3 veterans, as well as gaming and technology thought leaders, serve as the special governance board of this Decentralized Autonomous Organization (DAO). The board is responsible for overseeing the decisions of DAO members. 

As an Ethereum token, APE can be used in four different ways: 

  • Governance: ApeCoin is the governance token of the ApeCoin DAO, enabling token holders to vote on decisions within the community. 
  • Currency: ApeCoin is also the utility token of the APE ecosystem and can be used to purchase goods and services. 
  • Access: ApeCoin will additionally serve as a gating token, providing access to certain parts of the ecosystem, such as events and exclusive games. 
  • Incentive: ApeCoin is a tool for third-party developers to participate in the ecosystem by integrating APE into services, games, and other projects.

The Technology Behind APE

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.

Web3

ApeCoin is designed like any other Web3 coin and can be used for payments. ApeCoin is technically accepted by most merchants as it is a ubiquitous ERC-20 (Ethereum) token. The coin is also already in use as NFT rewards, and members of the Bored Ape Yacht Club receive APE for free, which they can immediately redeem.

Play-to-earn games

External developers use ApeCoin to play a role in the ecosystem and incorporate the token into their services, games, and various projects. 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. 

Metaverse

ApeCoin will be integrated into the upcoming metaverse Otherside, potentially making it a sought-after metaverse currency this year. This will turn ApeCoin into a transaction token on metaverse marketplaces. If the metaverse includes P2E elements, it could also be used for rewarding players.

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Benefits of ApeCoin

ApeCoin is popular among traders. What are the key reasons to invest in this coin? 

  • Exclusive Image 
  • Built on the Ethereum Network 
  • Projects: Web 3.0, play-to-earn, NFTs 
  • Tokens provide voting rights in the community 
  • APE supports real apes through the Jane Goodall Foundation 

Drawbacks of ApeCoin

There's a lot to gain with crypto, but it often requires caution. What should you consider when investing in ApeCoin? 

  • High Hype Factor 
  • Large Price Volatility in the Past 
  • High Transaction Fees 

Who is the founder of ApeCoin?

APE, or ApeCoin, was founded in 2019 by a team of experienced industry professionals who recognized the potential of blockchain and cryptocurrency. They aimed to revolutionize financial services and create an accessible platform for digital currency. 

Since its launch, ApeCoin APE has grown into one of the world's leading digital currency platforms, praised for its user-friendly interface and robust security measures. 

Price forecasts

In 2026 experts expect a minimal price of €3.85 and a minimal price of €12.75 in 2031.

Good time to get in?

View all key statistics of the past 24 hours here.

Market information

Use these figures to get a better picture of the ApeCoin market.

APE Return On Investment

See how much the price has risen or fallen over the years.

Historical ApeCoin price

Here you can see Apecoin's daily prices, trading volume and market cap. Looking for a specific date? You can fill in the range all you want. Maybe you'll spot the one trend!

Frequently asked questions

ApeCoin (APE) is an Ethereum-based token associated with the Bored Ape Yacht Club NFTs. These NFTs have been one of the most successful NFT projects to date, with many "Bored Ape" images selling for unimaginable prices. Curious about the current price? You can check it here.

You can buy ApeCoin right on BLOX. Simply download the app, and within two minutes, you'll become the proud owner of your own piece of APE.

A lot is happening in the cryptocurrency market, and ApeCoin is as changeable as the weather. Check our ApeCoin price page and use our handy charts to keep track of the latest APE developments.

No one has a crystal ball, so it's up to you to decide whether you want to invest in APE. We can only advise you to thoroughly research the market and to invest only what you're willing to lose.

A video explanation of ApeCoin

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