Hi guys, Welcome to our series of articles in which we talk about trending crypto coins. As you all know, people are becoming millionaires by buying and trading in crypto. One of the best ways to become one is by holding crypto coins. One can plan for retirement by buying these crypto coins. Individuals need to plan and prepare for retirement both financially and emotionally to ensure a smooth and fulfilling transition into their golden years. So, why not retire with a complete Road layout, have the currency on your smart device, and enjoy the leisure of life? Around us? There are some AltCoins that are making people rich.
Today in this post, I am going to be telling you about APECOIN, a very huge project.
What is APECOIN?
You must be aware of the most popular and biggest project in the crypto industry, The Bored Ape Yacht Club. APECOIN (APE) is a cryptocurrency intended to support the NFT platform of The Bored Ape Yacht Club. APECOIN is a fungible ERC20 token on the Ethereum blockchain that serves as a means of network governance and as a utility token for web3 projects.
How APECOIN works?
Erc20 tokens like APE are fungible interchangeable tokens on the Ethereum blockchain. This allows certain flexibility in its use both as a governance token and as a currency in projects that incorporate it into their designs. APECOIN works on the principles of decentralization and Community Driven Development. APECOIN operates on a unique model called a reflective or frictionless token, that means every time someone buys or sells APECOIN a small percentage of the transaction fee is automatically redistributed to all existing holders of APECOIN.
Distribution of APECOIN.
There is a fixed supply of 1 billion APE. This is assured in perpetuity by the Ethereum-based smart contract responsible for the cryptocurrency's creation, which does not allow for the minting or burning of tokens. Initially, after its release in April 2022, APECOINs was airdropped to everyone who holds any project of either BAYC or MAYC. 10,094 APE could be claimed by those who hold the bake project and 10,950 APE were given to the holder of Bored Ape Kennel Club NFT. While the make holders got 2,989 APE.
Why APECOIN?
APECOIN is heavily linked to two popular NFT collections by YugaLabs, Bored Ape Yacht Club (BAYC), and Mutant APE Yacht Club (MAYC). Both of these NFT collections are some of the largest on the Ethereum blockchain, with the launch price of APECOIN hovering above $15. This means holders of these NFTs received between $30,000 to $150,000 worth of APECOIN for free per NFT. According to the creators of APECOIN, the primary goals of the coin are as follows:
Governance
APE holders can take part in the APE DAO, which gives them the power to decide the future path of the community and to incorporate new initiatives.
Unification of Spend
APE can be used as a decentralized currency, taking advantage of the Ethereum blockchain.
Access
Those who own APE are given the opportunity to receive perks such as additional airdrops and access to exclusive physical events as part of the APECOIN Community.
Incentivisation
Developers of new blockchain-based projects, such as Games and Metaverses can use APE in their projects and benefit from being part of the board APE ecosystem.
Benefits of APECOIN
APECOIN was designed to be used in any of the web3 and Metaverse projects, to explain this we can take the example of other side land. Soon after the release of the APECOIN, other side land NFTs were released. it's in partnership with the BAYC and the NFTs announced were priced in APECOIN.
Many Play-to-earn games use APECOIN, like Animoca Brands' Benji Bananas.
APECOIN can be used to make payments for NFTs on several platforms.
It can be used to make passive income through the staking feature.
Tokenomics
If we discuss the pricing of the APECOIN token, then currently, as in late March:
The APECOIN is priced at $4.05.
While the market cap is $1.476 billion.
The total circulating supply is 368.6 million tokens.
And the maximum supply is 1 billion tokens.
Future Of APECOIN
Now let us talk about the future of APECOIN or shall we say your retirement plan? Like with all new token listings, it's challenging to make reliable forecasts based on technical analysis due to price still creating structure. However, we can still make some forecasts using information about the project and its upcoming use cases. So here I'd a year-wise supposed price prediction:
End of 2023:
APE staking mechanism release has led to a promising start to 2023, driving a surge in the token's value, however, due to uncertain macroeconomic conditions, it's unlikely to exceed $8 by year end.
End of 2024:
APECOIN's integration into numerous metaverse projects. It's expected to boost investor demand, potentially pushing its value to $15 by the close of 2024.
By the end of 2025:
The election of the APECOINs governance council could mark the beginning of the Project's expansion into multiple use cases and future roadmap development. Potentially driving the token's value to $26.7 by year-end.
End of 2030:
If NFTs continue to rise in popularity and become more integrated into the culture APECOIN could remain at the forefront and potentially reach $75 by the end of 2030. When considering an APE crypto price prediction, it's important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin or token's price will be in a few hours and even harder to give long-term estimates.
How to buy APECOIN?
The procedure of buying APECOIN is pretty simple and is similar to other crypto coins.
Set up a cryptocurrency wallet to store APECOIN.
Choose a cryptocurrency exchange that supports APECOIN, some popular exchanges that offer APECOIN include Binance, KuCoin, and BitMax.
Fund your exchange account with a bank transfer or credit card
Buy APECOIN on the exchange using your exchange account
Transfer your purchased eight coins from The Exchange to your wallet.
So here was all of it. Thanks for reading and I hope you found this article helpful. What do you think of today's article do leave a comment and tell us what you want to learn about next.