Ape Coin Crypto Guide for Beginners

Ape Coin is a relatively new cryptocurrency that has gained significant attention in recent times. It's essential to understand the basics before investing in any crypto, and Ape Coin is no exception.

Ape Coin uses the Binance Smart Chain (BSC) as its underlying technology. This means that transactions are fast and cheap compared to other blockchains.

The Ape Coin token is based on the BEP-20 standard, which is an open-source standard for creating and issuing tokens on the Binance Smart Chain. This standard provides a set of rules and guidelines for creating and managing tokens on the BSC.

Ape Coin has a total supply of 100,000,000 tokens, and the circulating supply is currently at 50,000,000 tokens.

ApeCoin is a decentralized governance token that empowers the community of Bored Ape Yacht Club and Mutant Ape Yacht Club.

ApeCoin was launched in mid-March 2022 by Yuga Labs, the firm behind BAYC, as a new Ethereum-run token. The APE tokens were airdropped to Bored Ape NFT holders, and it began trading on exchanges, creating some initial volatility.

The ApeCoin DAO is managed by council members, and the Ape Foundation was formed to buttress the DAO-run governance process. The APE Foundation is the steward of ApeCoin, not an overseer, but the base layer on which ApeCoin holders in the ApeCoin DAO can build.

ApeCoin is used as in-game currency for some titles developed by Yuga Labs, including a previously unannounced title being developed with nWay. The token has a total supply of 1 billion, with 280 million currently in circulation.

Here are the main uses of ApeCoin:

The APE Improvement Proposal Process allows ApeCoin DAO members to make decisions regarding Ecosystem Fund allocations, governance rules, projects, partnerships, and beyond. ApeCoin DAO membership is open to all ApeCoin holders.

You can buy ApeCoin (APE) with Uphold in just 11 clicks, even if you don't have an account yet. This makes it a very accessible option for new investors.

ApeCoin is the official native currency of the APE ecosystem, released in March 2022. It's an ERC-20 token operating on the Ethereum network.

To start investing in ApeCoin, create an account with Northcrypto, a service that allows you to buy cryptocurrencies safely and effortlessly. This will give you the freedom to start investing in ApeCoin right away.

Yuga Labs, the company behind ApeCoin, is a major player in the Web3 and NFT markets, owning the NFT collections CryptoPunks and Bored Ape Yacht Club. Bored Ape Yacht Club played a central role in the launch of ApeCoin.

The price of ApeCoin has seen some wild fluctuations, with a current price of $1.26, a 0.54% increase over the past 24 hours.

Its all-time high of $26.04 was reached on April 28, 2022, and it's currently down by a significant 95.2%.

The total supply of ApeCoin is 1 billion, with a circulating supply of 721.45 million tokens, which accounts for 72.1% of the maximum supply.

Here's a breakdown of ApeCoin's price change over different time periods:

ApeCoin's market capitalization is $906.75 million, with a 24-hour trading volume of $32.92 million.

ApeCoin has a unique governance structure through the ApeCoin DAO, which may provide some protection from regulatory scrutiny.

The token's management through the DAO is seen as a positive factor by some, with Antoni Trenchev, co-founder of Nexo, stating that it won't be under fire from the SEC.

The market momentum of BAYC, and their positioning as the number 1 NFT collection, suggests the possibility for long-term viability.

One NFT holder observed that the ApeCoin airdrop has the potential to inspire a mainstream crypto economy built around Yuga Labs' IP, which includes the CryptoPunks and Meebits NFT collections.

Prices are determined through a normal period of price discovery, especially when a token first launches and liquidity is limited.

The market goes through a period of adjustment as it figures out the value of the token.

ApeCoin is managed through ApeCoin DAO, which might shield it from regulatory scrutiny, according to Antoni Trenchev, co-founder of Nexo.

Yuga Labs hopes the new game and token will inspire a mainstream crypto economy built around their IP, which now includes CryptoPunks and Meebits NFT collections.

After the ApeCoin airdrop, one NFT holder noted that the momentum of BAYC and their positioning in the NFT space as the number 1 collection suggests the possibility for long-term viability.

The allocation of ApeCoin gives prior NFT holders a sizable advantage over retail investors, which could make the token exceptionally volatile in the near term.

Here are some key points to consider about the bulls' take on ApeCoin:

ApeCoin's main purpose is to act as a governance token for APE DAO, allowing members to propose and vote on application ideas.

ApeCoin facilitates the creation of Web3 applications on the Ethereum network, enabling open-source blockchains that eliminate the need for third parties.

In the APE DAO, ApeCoin owners can propose their own application ideas, which are then voted on by other DAO members.

If an idea is approved, the APE Foundation brings it to life with the resources provided.

ApeCoin will also be a central pillar of the future internet, or Web3, if APE DAO's visions come true.

ApeCoin is Otherside's official currency and primary medium of exchange in the upcoming metaverse.

As Otherside grows, so will the demand for ApeCoin, making it a key player in Yuga Labs' ecosystem.

ApeCoin will be the main means of payment in Yuga Labs' future products and services, expanding its uses and demand as the ecosystem grows.