What is ApeCoin? Should you buy them in 2022?

Released back in March, Apecoin was under top trending currency with a jump of around 50% in just 14 days in May and I know my crypto fam wants to know how and when to invest in them since their price is falling, currently being 6.18 US dollars (479.66 INR) and so here I am with all the information that you need to know before investing in them. Make sure you read everything with 100% attention so that you don’t end up incurring losses. So let’s get started.

What is Apecoin?

ApeCoin is a decentralized project with an ERC-20 governance and utility token within the APE ecosystem. The most discussed topic of 2021 doesn’t seem to fade in 2022 specially after the team of Bored Ape Yacht Club and the associated Non Fungible Token collections dropped a hint of a new cryptocurrency coming to life which will power up the entire ecosystem. Their has been a lot of buzz regarding the native cryptocurrency since everyone got to know that it is a decentralised layer that will support APE community at the forefront of Web 3.0.

How to buy APE?

You can buy APE from International as well Indian exchanges. For those who are looking to buy APE in any international crypto exchange against BTC, ETH or any stable coin, refer to the below mentioned crypto exchanges.

If you are an Indian crypto trader, and like buying APE with INR, you can use any of the below crypto exchanges.

Why did Apecoin price jumped?

We saw a huge spike in the ApeCoin price ever since it started trading on crypto exchanges. It got listed on some Tier 1 exchanges on day 1. BAYC being already #1 NFT project, there was a lot of hype behind the airdrop. However recent hype in the Apecoin was in expectation of selling 50000 plots on an upcoming Metaverse platform, Otherside by Bored Ape Yacht Club (BAYC).

What is the utility of this coin?

This coin shall be used within the APE ecosystem. It not only represents a crucial way in which NFT is quickly evolving but it also has the potential to bring in new people via events and games that will be accessible through the tokens. 

What is the connection between YugaLabs and BAYC?

BAYC is a cluster of 10000 Apes, created by YugaLabs. APE is run by a self governed organization, ApeCoin DAO. This organisation will decide how DAO’s funds shall be used. Though associated with BAYC and YugaLabs, Apecoin is controlled by DAO. However, YugaLabs states that they have no control over ApeCoin DAO.

What are the objectives of introducing Apecoin?

ApeCoin endeavours to encourage creation and expansion of Web3 by permitting :-

Governance

ApeCoin holders become responsible for voting on suggested changes and ensuring that the project’s long-term vision is upheld as they become members of the ApeCoin DAO.

Access

Ape ecosystem restrictes certain parts  for day-to-day users until you become the owner of ApeCoin. These restrictions are limited to exclusive merchandise, games, events and services.

Incentives

Owners of ApeCoin who are network participants can even subsume ‘Bored Apes’ into their projects under evolution. The Ape avatars can be used in games as well as services. Apart from this these avatars can also be used on other applications.

Spending

As ApeCoin is a utility token it acts as a cryptocurrency that merge the entire community and provides them with a measure of transacting amongst themselves on a decentralised platform.

When to buy Apecoin in 2022?

After understanding what ApeCoin is and how they function I know you want to know should you invest in them or not and yes then when should you invest, so here is the answer to most awaited question 

Based on the past trends, price of Apecoin seems to rise magnificently in the near future. Its price is expected to touch $51 by the end of 2022 but not before dropping significantly in coming weeks however, due to volatility of these markets no one can predict with 100% certainty. 

Apecoin Price Forecast by Experts

Apecoin Price Prediction by 2025: APE could reach 100USD by the end of 2025.

APE Price forecast 2026: Certain crypto experts have stated that price of Apecoin might increase by 450% by 2026. 

Apecoin Price Prediction by 2030: APE is predicted to reach 250 USD by 2030.

Most FAQs on Apecoin

What is Ape ecosystem?

Ape ecosystem consists of Apecoin holders and product & services utilising Ape.

What is the supply of Apecoin?

Currently Market Capital of Apecoin is $1,808,486,667. While their circulating supply is only 292,187,500.00 APE with fully diluted capital being 292,187,500.00 APE. 

The ApeCoin price as of June 4 is $6.19 USD with a 24-hour trading volume of $197,979,457 USD.

Currently Apecoin is ranked at 35th in top cryptocurrencies. 

On what Platforms ApeCoin is traded?

Built on Ethereum’s ERC-20 token standard, this currency is traded on some of the biggest exchanges like Binance, KuCoin, Kraken, FTX and the list continues.

What is the concept of airdrop followed by Apecoin?

In the initial days of its release, Apecoin was airdropped by YugaLabs to BAYC NFT holders with the option of claiming it for free.

Conclusion: Should you invest in ApeCoin in 2022?

If one is looking to make money in digital currency in near future then Apecoin is a good option to invest in as future predictions seem to be good. However, it is better to wait till Bitcoin becomes stable. BTC is continuously falling, and it has dragged almost all the altcoins down with it. Apecoin is no exception. For Apecoin price to rise, BTC needs to be stable, and Metaverse trend needs to continue. If you are investing in Apecoin, do not invest a lot of money. Put only a little part of your portfolio that even if the price goes down by another 90 percent, it should not bother you.

Disclaimer: I hope you have liked our article on What Apecoin is and is it a good idea to invest in Apecoin in 2022. However, please know that this content is for educational purpose only. If you would like to buy Apecoin, it is advised to consult a financial advisor. Cryptocurrency prices are volatile, and there is a risk of you losing your capital.