A Brief History Of Apecoin
Apecoin is a utility coin that entered the market as a Bored APE Yacht Club’s NFT project in March 2022. ApeDAO developed it as an ERC20 metaverse token for decentralized payments, governance, and Web3 network development. It was one of the best projects that actively contributed to gaming, retail services, and events.
When this coin was launched in mid-March, the total supply was 1 Billion APE tokens. It sold at $7.26 and reached $13 the following month. Out of this total supply, percentage amounts were shared with different groups in the ecosystem, including Charity, BAYC Founders, Treasury and Resources, Yuga Labs, and BAYC or NFT holders.
In November 2022, ApeCoin launched a personal NFT marketplace, allowing investors to trade tokens across Yuga Labs. In December 2022, it had a live staking opportunity. Currently, APE trades at $4.96 per token.
Is it Worth Investing in ApeCoin?
ApeCoin, like most top cryptocurrencies, has various use cases. For instance, it is used as a currency for the ApeDAO ecosystem’s governance. It is also a valid means of exchange for games, products, services, and events. Thus, it is almost impossible to say it is not valuable.
Generally, the cryptocurrency market remains unpredictable, even with many expert predictions. It is a volatile market such that the slightest changes in the economy or the coin’s ecosystem may automatically affect its value. More so, cryptocurrencies are high-risk investments.
Regarding ApeCoin (APE), it is a good investment (even though risky) because it surpassed expectations within its first few weeks. It also has an incredible tokenomics and ecosystem, making it invaluable to holders. Besides, the Metaverse is a growing industry, and tokens like APE will be useful to facilitate growth and progress.
Should I buy APE?
Actually, there is no general answer to this. However, you should know why many crypto enthusiasts are buying APE now. Many of them revolve around the utility of APE and are discussed below.
In conclusion, whether to buy APE now depends on your investment plans, interests, and time. Nonetheless, ApeCoin is the brainchild of an impressive project, and it’s worth checking out if you’re looking to enrich your portfolio with tokens.
N.B: Cryptocurrency investments are risky, and there is no supporting evidence that a price may increase or decrease in the future. Most predictions are based on current performance and are liable to change later.
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