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ApeCoin: The Ethereum-based Token Empowering Web 3 and NFT Community
The ApeCoin is an ERC-20 token built on Ethereum, associated with Yuga Labs’ Bored Ape Yacht Club. Web 3 is all about creating a decentralized community.
While ApeCoin DAO handles governance, project collaborations, and distribution of the Ecosystem Fund, the APE Foundation oversees the day-to-day stuff.
Alexis Ohanian and Amy Wu are on the board of the APE Foundation. Community visions are implemented, and DAO proposals are overseen.
The purpose of ApeCoin is fourfold: governance, unified spending, exclusive opportunities, and incentivization.
As of late 2022, APECOIN utilised Proof of Stake instead of Proof of Work. ApeStake.io lets token holders stake their tokens in different pools.
A Miami-based company called Yuga Labs founded ApeCoin with their Bored Ape Yacht Club collection. In March 2022, ApeCoin DAO was created.
Various stakeholders got the token, including NFT holders. Buying ApeCoins is cheaper than buying whole NFTs.
ApeCoin holders can access the same benefits as NFT holders, such as participating in certain events or receiving discounts. However, buying ApeCoins is much more affordable than buying a whole NFT, which can be quite expensive.
While Yuga Labs does not own ApeCoin directly, its founders hold a significant share, and the company supports ApeCoin as a community member.
By holding ApeCoin, holders can enjoy a range of benefits comparable to those of NFT holders, such as access to exclusive events and discounts, at a fraction of the cost. Furthermore, the founders of Yuga Labs have a direct stake in the success of ApeCoin, and the company actively supports the growth of the ApeCoin community.
ApeCoin: Total Supply, Allocation, and Unlocking Schedule
ApeCoin has a total supply of 1 billion tokens and can’t be destroyed. 12% of ApeCoin tokens will go to the ApeCoin DAO ecosystem fund, and 62% will go to the community.
According to their NFT ownership, 15% of the tokens were given to Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC). ApeCoin creator Yuga Labs got 16%, and a portion went to Jane Goodall.
ApeCoin tokens went to the people who helped launch it. About 8% of the tokens were assigned to Yuga Labs and BAYC founders.
The first 30% of ApeCoin tokens were unlocked on March 17, 2022, and the remaining 70% will be unlocked over the next four years. ApeCoins are currently circulating at 368.59 million.
APE Statistics Data:
- APE price now – $2.24
- APE market cap – $826 Million
- APE circulating supply – 368,593,750 APE
- APE total supply – 1,000,000,000 APE
- APE Coinmarketcap ranking – 47
ApeCoin Market Analysis and Price Predictions: Short-term and Long-term Outlook
On the daily chart, APE has shown bullish momentum, initially testing $5.95 before breaking out in the opposite direction. As the market entered a downtrend, the price dropped to $2.16, with the bears dominating the market. Since then, the price has been trading between $2.02 and $2.51.
According to the weekly chart, the price has been continuously downtrend. As soon as it was released in March, it hit an all-time high (ATH) of $28.
Traders who like to trade with the trend may want to wait for a bullish breakout before buying. At the moment, the price is $4.98.
ApeCoin was $2.16 last week. The price has increased by 3.19% over the past week. However, the price dropped by -4.26% in the last 24 hours. The crypto market is slightly bearish right now.
ApeCoin’s long-term sentiment remains positive despite the short-term dip. By 2024, it’s expected to hit $7.92.
ApeCoin has a total circulating supply of $368,593,750, and its market cap is $826 million.
ApeCoin experienced significant fluctuations in 2021. The last 30 days have seen a decline of -31.63% in its trading volume of $74,006,956.
According to our analysis, the average price of ApeCoin in August 2023 will be around $4.12, with the highest possible price being $4.41.
In the long term, we think ApeCoin could reach approximately $4.57 by December 2023, with the highest price potentially reaching $4.89.
Launchpad XYZ: A Promising Opportunity for High Returns
Launchpad XYZ raised $140K in two days, which is a good sign. Investors looking for high returns should consider this opportunity, but be aware of the risks. In addition to tokenomics, Launchpad XYZ uses use cases to predict its price.
The platform combines data, services, and markets from different blockchains to simplify cryptocurrency activities. Users can access the platform and its features with the $LPX token.
Launchpad XYZ has 1 billion tokens available, 25% are for presale, and the project’s treasury holds 75%.
A gradual unlocking strategy is in place to prevent a negative impact on the token price. There are stake options for the $LPX token, which is required to access Launchpad XYZ.
The presale has a minimum target of $5 million and a maximum target of $12.5 million, with investors having the chance to double their investment.
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