APEcoin dev price today, APE to USD live price, marketcap and chart

Moreover, to pass an exchange’s KYC (Know Your Customer) process, you will also need to provide a copy of your government-issued ID and proof of address. You may also be asked https://www.xcritical.com/ questions about your income and your level of expertise as an investor. Let’s take a look at the requirements to open an account on a crypto exchange. The token also exists to incentivize third-party developers to participate in the APE ecosystem by building applications that incorporate ApeCoin.

ApeCoin and the Otherside Metaverse

• Firstly, it acts as a governance token within the APE DAO (Decentralized Autonomous Organization), allowing token holders to participate in decision-making processes that shape the future direction of the ecosystem.
• ApeCoin is controlled by the ApeCoin DAO, a decentralized autonomous organization of which all APE holders can become a part.
• ApeCoin debuted on March 17, 2022, highly anticipated by the Bored Ape and the NFT community in general.
• APE can be used to vote on governance decisions put forward by Ape DAO, gain exclusive access to services in the APE ecosystem, be used as a shared currency within the APE ecosystem, and interface APE with other projects.
• Second, the token is supposed to be a unit of account for all sorts of transactions in the BAYC ecosystem.

The protocol introduced 30.25% of them into circulation at launch and will add the rest over the following four years. After a month of trading at about $13, APE hit an all-time high price of $26.19 toward the end of April before crashing back down to $13 in May. The next 16% (160 million tokens) was distributed to Yuga Labs itself (150 million tokens) and 10 million tokens (or equal value) went to the Jane Goodall Legacy Foundation. The entirety of the next 14% (140 million tokens) were paid out to various launch contributors for helping bring the project to what does ape mean in crypto life.

What Is the All-time High for ApeCoin (APE)?

By securing your tokens in your own wallet as opposed to on an exchange, you can avoid losing your assets in case of an exchange bankruptcy or a hack. The maximum supply for ApeCoin is permanently fixed at 1 billion tokens. A portion of tokens was withheld at launch to release over a period of 48 months.

Understanding the ApeCoin Ecosystem

This aspect of governance is crucial for maintaining a decentralized and community-driven approach to development and innovation. APEcoin.dev is designed to play a pivotal role within its ecosystem, serving both as a governance and utility token. This cryptocurrency is central to fostering the development and support of various platforms and projects that span across art, gaming, entertainment, and other Web3 initiatives. Its integration into the APE ecosystem underscores its commitment to advancing the Web3 space, particularly through the promotion of applications on the Ethereum network. ApeCoin’s primary use is as a governance and utility token within the APE ecosystem.

Step 2: Complete KYC and deposit funds in your exchange account

Governments around the world are increasingly scrutinizing the cryptocurrency industry and imposing new regulations, which could negatively impact the value of ApeCoin and other cryptocurrencies. Another factor contributing to ApeCoin’s fall could be the changes in investor sentiment. Some investors may have become bearish on the project due to concerns over the sustainability of its growth trajectory or uncertainty about its future direction. One of the main reasons for ApeCoin’s decline is the overall market trend of cryptocurrencies. You can simply buy ApeCoin (APE) on the Coinmetro exchange in just a few seconds.

Understanding NZDD’s Minting Process

ApeCoin (APE) is an ERC-20 token that acts as the governance token for ApeCoin DAO, a decentralized autonomous organization run by the community of APE holders. APE is the result of the success of Yuga Labs, famous for generating the Bored Ape Yacht Club NFT series. If you know anything about the NFT craze in the cryptosphere, you’ve likely heard of the wildly successful Bored Ape Yacht Club (BAYC). Expanding on this concept is the ApeCoin ecosystem, a cryptocurrency positioning itself at the forefront of Web3. ApeCoin is controlled by the ApeCoin DAO, a decentralized autonomous organization of which all APE holders can become a part. Many serious crypto investors would criticise ApeCoin as another run-of-the-mill crypto with no true utility to support sustainable value.

The value of cryptocurrencies in real time and how to buy

Bored Ape Yacht Club NFTs are frequently displayed on social media as profile pictures. Within the Ape Foundation is an administrative council known as the “Board” which is responsible for implementing the decisions made by the ApeCoin DAO members. This Board is voted in by the ApeCoin DAO members on an annual basis and is not controlled by Yuga Labs. APE can continue to grow as it gains a market monopoly, or it can fall apart if its other projects fail. On the other hand, were BAYC to be displaced by more successful brands, APE holders should expect a corresponding loss of value in the crypto.

Furthermore, any positive news or developments related to ApeCoin, such as new product launches or upgrades to the ecosystem, can also drive up its price. Overall, these factors create a positive feedback loop that can lead to a sustained increase in the value of ApeCoin. ApeCoin is a relatively new cryptocurrency that was launched in March 2022. It was created to be used within the Ape Ecosystem, which is supported by the Ape Foundation. Despite being a new token, ApeCoin has gained a lot of attention and popularity in the cryptocurrency market due to its unique features and potential for growth. ApeCoin is mostly used as the governance token for the ApeCoin DAO and for trading at major exchanges.

Axel has been immersing himself in the world of crypto and blockchain for quite some time, which he then translates into understandable articles. Further to the points discussed, ApeCoin doesn’t stop in the digital realm. This token-gated game gave you the chance to buy boosters with $APE. Contrary to popular belief, Apecoin was created by ApeCoin DAO rather than Yuga Labs itself. According to the official ApeCoin homepage, Yuga Labs has a contributor role within the $APE ecosystem.

Get the receiver’s wallet address, enter it into the prompts, tap send, and let the person receiving know they will get a confirmation. At Zengo, we love automation and technology but not for our helpdesk. Find live support agents directly in the app, whenever you need them.

ApeCoin debuted on March 17, 2022, highly anticipated by the Bored Ape and the NFT community in general. During its first days of trading, APE experienced massive volatility, reaching a high of $39.40 in just five minutes after going public, then dropping 80% the next day. The token entered a consolidation phase, fluctuating between $10 to $12 apiece. It acts as a sort of corporational parent of the DAO and carries out community-approved proposals, facilitating its development and growth. ApeCoin holds an essential role as the de facto currency for Otherside, BAYC’s upcoming metaverse. Otherside was announced on March 18th, 2022 in an official Tweet from the BAYC team.

As prefaced above, ApeCoin has been designed with the future in mind. Focusing on evolution of Web3 and blockchain technology to facilitate art, entertainment, gaming, and many more possibilities beyond. 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. The average sale price of a Bored Ape (BAYC) NFT is $285,000 as of writing this article. Celebrity names such as Justin Bieber and Eminem are Bored Ape Yacht Club NFT owners.

In April 2022, Yuga Labs started minting virtual land in its metaverse project Otherside. The sale went viral, and helped raise $320 million within just 45 minutes. APE is poised to be deeply integrated with Yuga Labs’ metaverse project, Otherside, where it could be used for any transaction within the environment. If Otherside eventually incorporates a P2E mechanic, APE could be given as rewards to players. The possibilities with ApeCoin will likely continue to grow as the infrastructure and proposals continue to be improved upon by the community.

However, the token’s value later dropped significantly due to market fluctuations and the broader crypto market’s bearish sentiment. Another aspect that sets ApeCoin apart is its role in incentivizing third-party developers to build applications that incorporate ApeCoin. This approach fosters innovation and growth within the Ape ecosystem, leading to more opportunities for token holders. Hybrid exchanges combine a centralized order book for trade-matching with decentralized asset custody to allow digital asset investors to benefit from the best of both centralized and decentralized trading venues. Finally, make sure to transfer your APE tokens from the exchange to your personal, non-custodial crypto wallet that supports ApeCoin.

Partnerships have been a crucial aspect of APEcoin’s strategy, with collaborations aimed at expanding its reach and utility. The planned listings on major platforms and partnerships for airdrops signify efforts to enhance liquidity and visibility in the cryptocurrency market. In summary, APEcoin.dev is integral to the APE ecosystem, offering multifaceted utility that spans governance, incentivization, and transactions. ApeCoin is intended to serve as the decentralized protocol layer for various community-led initiatives.

ApeCoin holders govern themselves via the decentralized governance framework controlling the ApeCoin DAO, and vote on how the ApeCoin DAO Ecosystem Fund should be used. The APE Foundation administers proposals agreed upon by ApeCoin holders. APE holders can vote on proposals or craft and introduce proposals to take actions that include allocating community treasury funds, making license exemptions, and promoting protocol development and adoption. In order to receive ApeCoins, the receiver must have an ApeCoin wallet address. If they don’t have one, you can send them a Zengo invite to create it.

A third benefit the token has is the potential access it grants to holders for events and games that will be hosted by the BAYC in the future. If you would like to know where to buy APEcoin.dev at the current rate, the top cryptocurrency exchanges for trading in APEcoin.dev stock are currently BYDFi, BloFin, Coinone, BitoPro, and Koinpark. The APE token’s distribution strategy is designed to foster a wide and active community engagement. With a circulating supply of 3,998,825 tokens, the distribution includes allocations for key partners and a substantial treasury reserved for airdrops, marketing efforts, and influencer partnerships.

In terms of the APE DAO, as the governance token meant to decide the future direction of the APE ecosystem, token holders should be able to use their ApeCoin to vote on proposals accepted by the community. Decentralized exchanges are smart contract-powered online trading platforms that enable users to trade crypto on a peer-to-peer basis without the need for a central authority. To purchase APE coins on a P2P exchange, you first need to choose a marketplace that supports ApeCoin, sign up for the platform, and complete the verification process.

The majority, 62%, went to BAYC holders and to fund the APE ecosystem, 16% went to Yuga Labs and charity, 14% went to launch contributors, and 8% to the founders. Zengo is a safe wallet to hold (or HODL) APE tokens for as long as you need to. The state-of-the-art security combined with guaranteed recovery methods means that even if you lose or break your smartphone, Zengo will make sure you can always access your crypto. When loading your account with fiat, all bank transfers are free, and once you have a positive balance, users can use the funds to pay bills both within and outside of the crypto service ecosystem directly from the app.