The Bored Ape Yacht Club NFT collection, nicknamed BAYC, debuted its coin on the Ethereum blockchain on March 16, 2022. ApeCoin is expected to be among the most popular crypto assets in 2024 and beyond. The same team behind Yuga Labs that created Bored Ape NFTs is behind this ERC-20 token. BAYC is a popular NFT collection in which each NFT symbolizes a cartoon APE. They grew to become the most successful NFTs of all time.
Bored Apes are well-known for their facial expressions, clothing, and color schemes. Their most appealing feature is that these apes can be customized to the smallest detail. These NFTs got so popular that celebrities such as Jimmy Fallon, Eminem, and Justin Bieber couldn’t help but buy them. They are being sold for hundreds of thousands of dollars, sometimes even millions, and the buzz around BAYC remains unchanged. Their new token Apecoin (APE), instantly became one of the top trending cryptos on Coinmarketcap.
In this guide, we will show you how to buy ApeCoin with low fees and in less than five minutes.
On this Page:
How to Buy ApeCoin
- Choose an exchange offering ApeCoin (APE) – we recommend eToro as FCA, ASIC, and CySEC regulate it.
- Signup and verify your trading account with eToro.
- Fund your account with a bank transfer, a credit card, PayPal, or another method.
- Search ‘APE’ in the drop-down menu to open charts and trades.
- Click ‘Trade’ and select an amount of APE to buy
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How to Sign Up at eToro
Opening a free eToro account is simple because it is user-friendly, especially for beginners.
Step 1: Open an Account
Please follow the steps outlined below to open a new trading account.
- On the eToro website, click the “Join Now” or “Trade Now” button.
- On this page, you’ll find an electronic form where you can enter all your personal information needed to open a new trading account.
- Please fill out this form with all of the required information.
- eToro offers the option of logging in through Facebook or Gmail.
- Please read eToro’s Terms & Conditions and privacy policy before submitting your information for consideration.
- Please indicate your agreement with the terms by checking the appropriate box after reviewing them.
- To submit your information, click the “sign-up” button.
eToro website homepage
If you want to use the mobile app for iOS and Android, check out the guide to the eToro app. It has screenshots of how the app looks and works.
Your capital is at risk.
Step 2: Upload ID
First, you must register with eToro, which can be done by giving some basic personal information, email address, and cell phone number. You’ll also need to provide identification to complete the verification process.
Step 3: Make a Deposit
When you’re ready to deposit funds, go to the ‘Deposit Funds’ section and enter the amount you want to deposit. A minimum deposit of $10 is required to open an account with eToro, which can be accomplished in various methods.
Payment methods accepted include debit cards, credit cards, bank transfers, Skrill, PayPal, and Neteller. eToro does not charge any deposit fees. Once you’ve decided on a payment option, click the ‘Deposit’ button to complete the transaction.
Deposit methods on eToro
On March 17, 2022, eToro listed the ApeCoin (APE) coin. Regarding the craze for Ape NFTs and APE coins, almost every major centralized cryptocurrency exchange listed the token right after its launch. As we see, it was also an accomplishment for the coin. Many big names in the crypto world, like Coinbase, Bybit, Huobi, Bitfinex, Binance, and many more, listed the coin on the first day of its launch.
Step 4: Buy ApeCoin
Begin typing ‘ApeCoin’ into the search bar at the top of the screen. When you see the cryptocurrency asset, click the ‘Trade’ button.
Searching APE on eToro
Step 5: Review ApeCoin Price
This step will redirect you to an order page where you may enter the desired quantity of ApeCoin coins. After that, click ‘Open Trade’ to incorporate the APE into your portfolio. We support storing your digital assets in a third-party wallet apart from the trading platform. One feasible solution is to use the eToro Crypto Wallet, which now supports over 120 cryptocurrencies and APE.
APE Price Chart on eToro
The good thing is, there’s no maker/taker fee on eToro as they solely charge buy/sell spread.
Step 6: Buy ApeCoin
In the ‘Amount’ box, tell eToro how much money you want to invest in ApeCoin – starting with $10. To complete your purchase, click the ‘Open Trade’ button.
Buy APE on eToro.
Read more about how to buy cryptocurrency in 2024 here.
Your capital is at risk.
Where to Buy ApeCoin (APE) – Best Platforms
Even though ApeCoin is a brand new digital currency, some of the industry’s largest crypto exchanges decided to list the token as soon as it was released. This is somewhat unusual, as newly launched projects can often take months to be listed on tier-one exchanges.
Nonetheless, reviews of the best places to buy ApeCoin right now can be found in our update. Our list of sites to buy APE in 2024 contains their characteristics, fees, and reasons for their uniqueness. eToro has established itself as the top site for buying APE cryptocurrency. The platform is secure, offers competitive pricing, and is simple.
Best Brokers to Buy ApeCoin
1- eToro
eToro is an online trading and investment company that offers social trading and investment platform. Founded in 2006, this company is headquartered in Tel Aviv, Israel. eToro provides retail investors and traders various services, including trade execution through its proprietary web platform. Additionally, the company offers social trading and copy-trading capabilities.
Users can trade on the go with eToro’s mobile app, which includes access to news, research, charts, and technical analysis tools. eToro is well-known for its social trading features and platform for copy trading. In addition, the company offers a range of accounts for individuals with one to nine years of experience. eToro enables users to copy the trades of experienced traders and investors worldwide with little to no risk in a single click.
The site and company provide a platform available in over 25 languages and approved by the Cyprus Financial Markets Authority. Additionally, the site features an advanced analytics tool that enables users to identify trading opportunities, monitor performance, analyze their investment strategy, and identify areas for improvement.
Additionally, you can now earn rewards for purchasing and buying Ethereum, Cardano, and Tron in your wallet.
Read more about how to stake crypto.
eToro is governed by some of the world’s most reputable regulatory authorities, including the Financial Conduct Authority of the United Kingdom (FCA). The Australian Securities and Investment Commission, the Cyprus Securities and Exchange Commission, and the Financial Industry Regulatory Authority (FINRA) are also responsible (FINRA). User funds are kept separate from the platform’s operating capital in compliance with CySEC regulations for all CySEC-registered brokers. This is the way the platform operates.
eToro charges a nominal trading fee like other companies, including 0.75 percent for purchasing or selling bitcoin. On eToro, the cost of converting bitcoins is only 0.1 percent on top of the existing margins. As a result, eToro has established itself as a market leader in cryptocurrency trading, with a strong preference for crypto-assets and CFDs in 2024.
eToro charges its consumers a reasonable fee structure. eToro does not charge a fee for making a deposit. Deposits can be made using bank wire transfer, credit or debit card, PayPal, Skrill, Sofort, and Netteller, among others. The minimum deposit amount varies by user region. For example, individuals in the United Kingdom and the rest of Europe must make a minimum deposit of $200 before trading. In the United States, users must make a $10 deposit.
eToro accepts Bitcoin, the leading cryptocurrency, and major altcoins such as Ethereum, Aave, XRP, Graph, and other popular cryptocurrencies. Buying and selling on eToro can be done online and on handheld devices through their mobile app. The opening process of an eToro account is straightforward and takes a few minutes.
Pros & Cons of the eToro platform:
- Copy-trading – Ability to copy the trade of successful traders.
- Regulated by ASIC, FCA, and CySEC
- User-friendly interface
- Trusted by 20 million registered users
- Most payment methods supported
- Staking of ETH, ADA or TRX
- Less technical analysis (TA) tools and indicators than Binance
- Service is only available in 44 US states.
- Buy/sell spread large on altcoins
Your capital is at risk.
2 – Bitstamp
Bitstamp is a cryptocurrency exchange based in Luxembourg founded in 2011 by Nejc Kodri and Damijan Merlak. This seasoned cryptocurrency exchange provides a low-fee marketplace aimed primarily at professional investors and large financial institutions.
Bitstamp is one of the first Bitcoin exchanges in the crypto market, having been founded just two years after Bitcoin’s inception.
Bitsamp best suits seasoned investors looking for a high-quality cryptocurrency trading platform. However, it is also an excellent platform for users who want to make a one-time purchase of digital assets and store them on Bitsamp’s web cold storage wallet.
Payment Fee: Unlike most digital asset exchanges, Bitstamp’s payment fees are relatively low. When it comes to deposits, the UK provides two options. The first option is to use an international wire transfer, which has a fee of only 0.05 percent (very low compared to other crypto platforms). The second option is to use the free Faster Payments option.
The withdrawal fee is also lower than the industry average – 0.1 percent when using international wire transfers or 2 GBP using the Faster Payment option. The only disappointment with Bitstamp is its high fee on credit card cryptocurrency purchases – 5% on any amount.
Minimum Deposit: Unlike most online trading platforms, Bitstamp does not require a minimum deposit to open an account. However, like Bittrex, it has a minimum order amount of 50 USD/EUR/GBP, whereas some other exchanges may have a much higher minimum order amount.
Bitstamp trading fees: Bitstamp is generally regarded as a low-fee exchange, particularly for highly active investors. For a daily volume of less than $10,000, the highest trading fee you can pay is 0.5 percent (above the industry average, around o.25 percent ). However, when the investor increases the total volume of transactions, the fees decrease dramatically. As a result, if your volume turnover exceeds $20,000,000, your fees can be as low as 0%. Individual investors can realistically expect to pay a fee of around 0.1 percent at Bitstamp.
Security: Two-factor authentication is now required for all investors performing key account functions. Bitstamp claims to keep 98 percent of its digital assets offline in cold storage, with all assets insured. However, according to crypto exchange security evaluator CER, it ranked near the bottom of our review of crypto exchanges in terms of security, indicating that it may still have room to grow to become a leader in this category.
Customer Support: Customer service is available 24 hours a day, seven days a week, including a phone support line for urgent inquiries.
Pros & Cons of the Bitstamp platform:
- Allows purchasing cryptocurrency with fiat currency using a bank account, debit card, or credit card.
- Provides dedicated phone customer service 24/7.
- Available in over 100 countries.
- No margin trading.
3 – Crypto.com
Crypto.com, a global cryptocurrency exchange, was founded in 2016. It is based in Hong Kong and serves over 10 million traders in over 90 countries. It lets you buy and sell over 250 cryptocurrencies with relatively low trading fees.
The Crypto.com platform’s unique selling point is that it allows users to stake their cryptocurrency.
Users can earn up to 14.5 percent p.a. interest by staking or holding them in a crypto.com wallet. Aside from trading, the exchange offers other services such as staking rewards, Visa card benefits, NFT trading, DeFi products, and more.
Security: Crypto.com employs several security measures, including MFA, which stands for multi-factor authentication. It also employs allow listing to protect customer accounts. The platform uses compliance monitoring to prevent hacks and losses and stores customer deposits offline in cold storage.
Deposit: This platform’s minimum account balance is $1. The Maker/Taker fees range between 0.04 and 0.40 percent. Credit/debit card purchases are charged at 0% or no fee during the first 30 days of account opening. In addition, users can earn up to $2000 for each friend they refer.
Coinbase APE Listing: March 17, 2022
Pros & Cons of the Crypto.com platform:
- More than 20 fiat currencies are supported.
- A separate NFT platform
- There are no fees for sending cryptocurrency to other users via the mobile app.
- It offers up to 8% cashback on its own Visa card.
- Price alerts
- Up to 14.5% p.a. interest earnings
- Competitive fee
- Pay more for lower balances.
- Residents of New York are not eligible.
- Services for the US platform are limited.
- No customer service via phone.
4 – Bybit
Bybit is a new peer-to-peer (P2P) cryptocurrency derivatives exchange attempting to establish itself in the emerging cryptocurrency margin/leverage trading market. Despite its March 2018 launch, Bybit quickly gained traction in the Bitcoin trading community and began enrolling customers.
The exchange allows traders worldwide to trade leveraged margin on a select set of cryptocurrency assets, with BTC, ETH, EOS, and XRP trading at up to 100x leverage.
Bybit, based in Singapore, is a cryptocurrency-to-cryptocurrency exchange that does not require customers to go through onerous KYC verification and currently has a daily trading volume of up to $1 billion.
Founders: Ben Zhou founded the company in March 2018. Before becoming the exchange’s CEO, he was the general manager of XM, a forex brokerage firm.
Leveraged trading: The primary product offering of Bybit exchange is perpetual futures with a leverage ratio of 100:1. This suggests that they intend to compete with existing exchanges like Binance and Phemex, which offer comparable non-expiry futures contracts.
Bybit APE listing: March 17, 2022
Pros & Cons of the Bybit platform:
- Up to 100x leverage on crypto
- Advanced tools supported by great technology
- Risk-free test environment to learn and experiment
- Educational resources
- Not available in the US
- Not suited to spot trading
5 – Binance
Binance is one of the most active cryptocurrency exchanges in daily transaction volume, with more than $20 billion transacted daily. It provides access to hundreds of assets and a welcoming trading environment, simplifying profiting.
Minimal fees, a robust charting interface, and support for hundreds of coins are among Binance’s most distinguishing features. Binance, in contrast to eToro, is a cryptocurrency-focused exchange that does not provide copy trading, FX, commodities, or other financial services.
Binance uses two-factor authentication (2FA) and FDIC-insured deposits in US dollars (USD). Binance also uses device management in the United States, address whitelisting, and cold storage to protect its customers.
Fees range from 0.015 to 0.10 percent for buying and trading, 3.5 percent or $10 for debit card purchases, whichever is greater, and $15 for US wire transfers.
The APE token was listed on Binance on March 17, 2022, and is now available for trading. Furthermore, Binance has launched trading pairs for APE/BTC, APE/BUSD, and APE/USDT.
Pros & Cons of the Binance platform:
- Over 500 cryptocurrencies for trade
- A wider range of altcoins
- More staking options – Binance Earn feature
- Professional traders have access to all the chart indicators they need
- Margin trading – long or short on leverage
- Massive selection of transaction types
- US customers can’t use the Binance platform, and the Binance.US exchange is minimal.
- High fees for credit card deposits
- No copy trading
6 – Coinbase
Coinbase was founded in San Francisco and is widely considered one of the most popular Bitcoin trading platforms in terms of user base. Coinbase was the first major cryptocurrency exchange in the United States to go public, listing on the Nasdaq in April at $381, valuing the exchange at $99.6 billion fully diluted.
Coinbase allows you to buy and sell cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and over 50 others. It can also be used to convert between cryptocurrencies and to send and receive cryptocurrency. Coinbase displays the current cryptocurrency price and trend, as well as your portfolio and industry news, similar to stock trading apps. To trade, use the Coinbase Pro exchange, which charges less than the Coinbase leading site. Coinbase Pro is more akin to a broker.
Limit and market orders for ApeCoin can be placed on the Coinbase Pro exchange. The maker/taker fee is 0.5 percent for the first $10,000 in volume traded in 30 days, after which it drops to 0.35 percent. You can trade cryptocurrency for free without paying a maker fee if your 30-day volume exceeds $300 million.
Since March 17, 2022, ApeCoin (APE) has been available on Coinbase.com and in the Coinbase Android and iOS apps.
Pros & Cons of the Coinbase platform:
- Trade against the US Dollar, GBP, or EUR rather than USDT
- Well-known and trusted by US regulators
- Instant deposits and withdrawals to/from a bank account
- Remember to use Coinbase Pro for lower fees
- Higher maker/taker fee than Binance unless your trading volume is very high
- The Coinbase Pro website is slow and lacks chart indicators
- Less customer support
7 – KuCoin
KuCoin, founded in 2017, is a global cryptocurrency exchange that provides various trading options to its eight million customers. Spot, futures, margin, peer-to-peer (P2P), and staking and lending are all available.
Johnny Lyu is the Co-Founder and CEO of KuCoin, one of the world’s most well-known cryptocurrency exchanges. KuCoin has grown to become one of the most well-known cryptocurrency exchanges. It has over 8 million registered users from 207 countries and territories worldwide.
Deposit and Withdrawal: KuCoin does allow for the purchase of Bitcoin with fiat currency, but only through a third-party application. Payments can be made with a credit or debit card, Apple Pay, or Google Pay, but not by bank transfer. However, the fees could be exorbitant.
You will also be required to purchase a certain amount of one currency immediately. You could, for example, spend $200 on Tether (USDT), a stablecoin tied to the US dollar. Tether can then be used to purchase additional currencies. You couldn’t just deposit $200 and wait for the right time to invest it. Other exchanges allow you to deposit money and decide how and when to spend it.
KuCoin Transaction Fees: Kucoin’s trading fee structure is straightforward. The platform charges 0.1 percent for both makers and takers, making it one of the most affordable Bitcoin exchanges online. If you own the platform’s native Kucoin tokens, you can further reduce your fees.
ApeCoin (APE) was listed on KuCoin on March 17, 2022, and supported APE/BTC and APE/ETH trading pairs.
Pros & Cons of the KuCoin platform:
- User-friendly exchange
- Low trading and withdrawal fees
- Vast selection of altcoins
- Ability to buy crypto with fiat
- 24/7 customer support
- No forced Know Your Customer (KYC) checks
- Ability to stake and earn crypto yields
- Complicated interface for newbies
- No bank deposits
- No fiat trading pairs
8 – Bitfinex
Bitfinex is a well-known cryptocurrency exchange that allows users to buy, sell, and trade a wide range of digital coins. In 2012, the Hong Kong-based portal was established. Because Bitfinex’s trading area includes a robust set of chart analysis tools, intermediate and professional traders are likelier to use it.
Aside from cryptocurrency, the only way to deposit and withdraw funds is via wire transfer. Bitfinex, like Coinbase, is one of the few platforms that allows you to short cryptocurrencies and use leveraged trading strategies.
Founders – Bitfinex was founded in December 2012 as a peer-to-peer Bitcoin exchange offering digital asset trading services to customers worldwide.
Bitfinex Securities Ltd., a blockchain-based investment product provider, has established a regulated investment exchange (Bitfinex Securities) in the AIFC to improve members’ access to a diverse range of financial products. Bitfinex, as a result, is entirely unregulated. While the corporation’s headquarters are in Hong Kong, it is registered in the British Virgin Islands.
Fees and deposit limits: Bitfinex charges a 0.1 percent fee for bank transfer deposits. If you deposit $10,000, for example, you will be charged a fee of $10.
Withdrawal fees: Bitfinex charges a 0.1 percent fee for bank transfer withdrawals. You can pay a 1% expedited fee if you need funds within 24 hours.
ApeCoin (APE) was listed on Bitfinex on March 17, 2022. APE can trade with US Dollars (APE/USD) and Tether tokens (APE/USDt).
Pros & Cons of the Bitfinex platform:
- Established in 2012.
-
Suitable for experienced traders.
-
Over 100 coins are supported.
-
Bank wire deposits and withdrawals are accepted.
- US citizens are not accepted.
-
Expensive trading fees
- Support team only available via email
What is ApeCoin (APE)?
ApeCoin (APE) is the utility and governance token of the APE ecosystem, used to power the network and reward the users and holders of BAYC. The Bored Ape Yacht Club is the most famous NFT collection on the Ethereum blockchain and is used to purchase products and services in the BAYC ecosystem. Furthermore, the token APE is also rewarded to the holders of NFT collectibles at BAYC.
As the coin is established on the Ethereum blockchain, the token is an ERC-20 token. Apart from empowering the ecosystem, the token APE is also used for governance. The holders of APE tokens can govern by voting on how to use the ApeCoin DAO Ecosystem Fund. The APE Foundation then administers the proposals that get approval from the holders.
Founders of the APE coin
The growing APE ecosystem led to the development of the APE token. The token APE Protocol is governed by the ApeCoin DAO and is supported by the APE Foundation. Apecoin was launched by a new governing body named ApeCoin DAO, consisting of members who are all APE holders and can also vote on the proposals from the community. The legal support and day-to-day operations are handled by a separate organization called the APE Foundation.
The APE foundation is responsible for administration, proposal management, and supporting the day-to-day operations of ApeCoin DAO. A subcommittee of the Ape Foundation is also named the ApeCoin DAO board. The board consists of five high-profile crypto investors and is incorporated to oversee proposals.
Bored APE Yacht Club (BAYC)
The club is the first NFT collection in the APE ecosystem, launched in April 2021. It consists of an NFT collection of 10,000 different apes on the Ethereum blockchain. Each APE has a unique attire, structure, color scheme, look and design, and facial expression.
Mutant APE Yacht Club (MAYC)
It is also an NFT collection of 20,000 mutated versions of the original BAYC Apes. Out of these, 10,000 were airdropped to the original BAYC NFT holders and were made to attract more members to the APE community. After the airdropped mutant APEs, the rest of the 10,000 were made available for public sale in August 2021.
Bored APE Kennel Club (BACK)
It is also a collection of dog NFTs made for every member of BAYC. Every owner of a BAYC NFT was offered the opportunity to adopt a random club dog NFT for free. They only needed to pay the gas fee. All 10,000 BACK were also unique and rare in their attributes and appearance.
APE Ecosystem
The ecosystem comprises the community of all APE holders, products, and services utilizing APE. All NFT collectibles on the BAYC, MAYC, and BAKC are also part of the APE ecosystem. The organization behind creating the Bored Ape Yacht Club is a web3 company named Yuga Labs.
Yuga Labs will also be a member of the community in the ApeCoin DAO and will adopt the token APE for the new project’s creation. The holders of NFTs from BAYC and Mutant APE Yacht Club are subject to receiving a collective 15% of the APE token supply at the coin’s launch.
Tokenomics for the APE Coin
The current trading price of one APE coin is $5.55. The total market capitalization as of February 23rd is $2.047 billion. The total supply is 1 billion APE tokens, of which 368 million APE coins are already in circulation.
The distribution of the APE coin total supply is as follows:
1. 62% to the Ecosystem Fund, where:
- 150 million APE tokens will be airdropped to BAYC holders in the following proportions:
- 10094 tokens will be granted to Bored Ape NFT holders.
- 2042 tokens will be distributed to Mutant Ape holders.
- 10950 tokens are set aside for Bored Ape and Kennel Club card holders.
- 2898 tokens for holders of Mutant Ape and Kennel Club tokens.
- 470 million APE tokens went to the DAO treasury. Out of those, 117,500,00 tokens are locked, and 7,343,750 will unlock each month for the next 48 months.
2. 16% of the total supply of APE coins will go to Yuga Labs and for charity, divided as follows:
- 150 million will be locked for 12 months under Yuga Labs. Of these, 4,166,666.67 will be unlocked monthly for the next 36 months.
- 10 million will be donated to the Jane Goodall Legacy Foundation. Initially, they will be locked for 12 months and 2,77,777. Every month for the next 36 months, 78 tokens will be unlocked.
3. 14% will go to the launch contributors with different lockup settings.
4. 8% will be given to the founders of the BAYC under a 12-month lock-up. Out of which, 2,222,222.22 will be unlocked every month.
Is it Worth Buying ApeCoin (APE) in 2024?
Apecoin has several use cases, being a utility and governance token. It can be used to vote on different protocol upgrades and be used to make purchases of NFTs and other services and products across the whole APE ecosystem. The token is also used to incentivize the users of the network. Playing games in the APE ecosystem can also be earned as a reward.
Apart from these use cases, Apecoin has just started its journey as a cryptocurrency and has already reached the top 50 coins within a week of its inception. However, this is not a usual achievement in a digital asset market where many new tokens and projects appear every other day. At the time of writing, Meta Masters Guild is one the latest new token presales set to rival APE in the P2E space.
ApeCoin has disappointed investors since February 2022, and this trend persists in Q3. Despite some recovery since the start of the new year, fluctuations around the $2 mark since mid-June, the altcoin has been unable to recover. Initially, this was attributed to the decline in the NFT market and reduced demand for the token based on the BAYC collection.
However, these factors had a continued impact until mid-July. Within that specific time frame, the floor price for the BAYC collection experienced a significant drop, reaching its lowest point ever at 29.98 ETH ($56,000). This decline accounts for a remarkable 27% decrease within just one month.
Over the past week, there has been a notable positive development in the BAYC collection. Total sales have experienced a surge, reaching an impressive volume of $13 million. This activity level hasn’t been seen in over a month and a half. Interestingly, despite this surge, ApeCoin’s price remains unaffected. It continues to trade just below the 50-, 100-, and 200-day Exponential Moving Averages (EMAs) for three consecutive months.
The fate of the altcoin now rests solely in the hands of investors. Their actions hold the potential to stimulate a surge in demand and subsequent recovery. Despite holding a market capitalization of $702 million, ApeCoin holders have generated only a nominal transaction volume.
Will the Price of ApeCoin (APE) Go Up in 2024?
The performance of ApeCoin in January 2023 has sent mixed signals across the crypto community. The token’s recent price swings indicate that its value may go through a few up and down in the near future. Nonetheless, its upcoming projects can ensure this token achieves stability in its value on its price charts.
A crypto game maker, Animoca Brands, has already announced its plans to integrate the APE token into its secret project. The project is under development with the BAYC. Meanwhile, a game called “Benji Bananas” by Anomica Brands has already started rewarding its players with APE tokens.
Furthermore, the developer nWay has also announced that it will use the APE token in an upcoming play-to-earn game based on BAYC. Most importantly, the ApeCoin DAO has also revealed its plans, where some future functionality will only be reserved for APE coin holders, including some upcoming games and services.
The launch of the ApeCoin staking mechanism in December 2022 has already enhanced the utility of this token. It has accelerated its price by more than 45% in 2023. Considering its increased utility and growing partnerships with different projects, its value is anticipated to be around $8 by the end of this year.
Other than that, E11Even Residencies in Miami have also announced that they will accept APE payments. A Florida-based brewery, SaltWater Brewery, has also announced APE payments for its beers with a discount.
ApeCoin DAO encountered a 24% decrease in token price and saw a decline in other key metrics during Q2 2023. However, it stood out by receiving the highest number of proposals compared to any previous quarter, showing an impressive increase of 42% quarter-over-quarter.
The holders of APE tokens demonstrated responsible voting behavior by prioritizing proposals that benefit the ecosystem. They approved initiatives like the Ape Accelerator and allocated budgets for the Governance Working Group and Discourse Facilitators. This approach effectively showcases the DAO’s proficiency in allocating decentralized capital resources.
The APE token, as the flagship of ApeCoin DAO, is poised to experience greater adoption in the expanding ecosystem. Despite facing challenges during the past quarter, the DAO has shown resilience and is well-positioned for future developments. This remarkable achievement suggests that the APE Token has a promising journey ahead throughout 2023.
ApeCoin (APE) Price Prediction: Where does ApeCoin (APE) go from here?
Apecoin can also be used to govern the ApeCoin DAO projects. It can also be used to make payments to merchants. For example, companies like SaltWater Brewery and E11Even have already adopted the APE token as a means of payment. With time, more and more companies will adopt the coin as a payment method, pushing its prices higher.
Web3 is still a new industry, and we hope the APE token becomes a popular payment method in the Metaverse. However, the management team is already considering adding a staking function for APE holders to reward them with passive income. They also want to add more GameFi applications and collaborate with the other NFT IPs from Yuga Labs.
ApeCoin Price Prediction 2023
As mentioned earlier, the utility of ApeCoin has already increased by the advent of its staking mechanism in December 2022. As a result, in 2023, its price has increased by more than 45%. By the end of this year, its value is predicted to be approximately $8 due to its growing utility and partnerships with various projects, including Benji Bananas.
ApeCoin Price Prediction 2024
It is expected that ApeCoin will be accepted as a payment method by many companies in the near future. After having a volatile run in 2022, cryptocurrencies are predicted to bounce back and have their bullish run in the upcoming years. Given all these circumstances, APE is projected to have a bull run on its price charts. Experts believe that it will even cross the mark of $15 by the end of 2024.
ApeCoin Price Prediction 2025
The bullish run of ApeCoin is expected to continue in the year 2025. As per the price projections of many forums, APE will be valued at around $20 by the end of 2025, thereby giving considerable returns to its investors.
Summary
If we look at the media attention this APE coin is getting within a week of its launch, we can say it could be one of the best-performing altcoins in 2024. However, conducting a technical analysis when predicting prices for such a new coin is challenging. The technical analysis is mainly based on historical prices and data information. And for the APE token, the price is currently making its structure. But we can also figure out how new altcoins like APE token will be worth it in the future by looking at information about their upcoming integrations, projects, upgrades, and attention from the news.
The primary use of the APE coin is to make decentralized payments within the APE ecosystem. The token is expected to secure integrations with various blockchain-based gaming companies. As mentioned above, an upcoming game project from Anomica Brands has announced its plans to use APE. It helped the coin reach higher in its initial days of launch. A popular play-to-earn online game by the same company, Benji Bananas, has already adopted the APE token. They use these tokens to reward the players. Other game developers and organizations might also use the APE token in their games, which could help the token even more in the coming days.
As we discussed above, the coin has the potential to grow exponentially. Therefore, if you want to buy it, our suggested regulated broker, eToro, can help you get started. The platform is, of course, licensed and regulated by the FCA and has one of the best reputations in the industry. Furthermore, eToro provides a wealth of educational resources to help those new to the market learn the ropes.
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FAQs
Any risk in buying ApeCoin now?
APE has just started its journey, and the coin is reaching higher limits every day. We can say that an APE investment can be very profitable right now.
Is it safe to buy ApeCoin?
The APE coin is an ERC-20 token, and it is secured by Ethereum’s Proof-of-Work mechanism. Therefore, it holds the same security features as the second largest cryptocurrency, ETH.
How much will APE be worth in 2030?
After having a mixed cycle in 2022, APE will be in a recovery mode in 2023. The sentiment is still bullish around its ecosystem; it is expected that it will hit $50 by the end of this decade.
Wil APE ever hit $50?
Within 2 weeks of its launch, APE has already touched $15.5, and the sentiment is still bullish around its ecosystem. The craze for APE coin in its community is suggesting that it is possible for the token to reach $50 in the near-term future.
