New Delhi: The world of Cryptocurrency saw addition of a new coin on March 18. Named ApeCoin, the crypto coin is the latest sensation in the digital world and is being keenly followed & pursued by lot of crypto traders.
ApeCoin is a token that powers the APE NFT ecosystem. The token has also been listed on global exchanges namely Binance and OKX.
After launch, the ApeCoin (APE) was airdropped to all the investors in Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC) and all related NFT collections. Notably, the BAYC and MAYC are the two most popular collections on the Ethereum blockchain.
Owners of the BAYC NFTs can claim ApeCoin tokens for free and resell them wherever they want.
What is ApeCoin (APE)?
ApeCoin is the utility token of the BAYC, the NFT chain which has about 1,000 unique bored ape networks. The highlight of the coin is that it could be customised down to the tiniest details based on buyer’s taste.
The Ape Foundation powers these ApeCoins and is managed and supervised by the ApeCoin DAO. So, by default, the ApeCoin holdes become voters on the DAO for which the Foundation acts as a facilitator.
The ApeCoin crypto trade serves the ‘web 3.0 economy’ where owners of web-based content double up as creators also.
According to ApeCoin website, “APE is a token made to support what’s next, controlled and built on by the community. It will serve as a decentralised protocol layer for community-led initiatives that drive culture forward into the metaverse.”
ApeCoin Tokenomics:
ApeCoin is an ERC-20 token, built on the Ethereum blockchain. A total of 1 billion tokens are in circulation for the trade and all of them were minted in one go.
ApeCoin is available for trading on various exchanges including Binance, Coinbase, KuCoin, Huobi, Kraken, Bybit, FTX, etc.
It’s market cap is estimated at $2.93 billion. Despite being the newest crypto on the block, it already stands 47th on the market capitalisation leader board.
