ApeCoin Price Prediction for Today, October 19 APE Technical Analysis

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ApeCoin has a total supply of 1 billion tokens and is controlled by the community. The ApeCoin DAO is a decentralized organization that allows all APE holders to vote on governance decisions related to the token. The ApeSwap platform is a revolutionary new decentralized exchange and automated market-making system. The platform allows you to swap, hold, farm, and purchase cryptocurrencies all on the BSC network. Current exchanges can be clunky and frustrating to use, so the team developed an easy-to-use solution for users of all skill levels.

For each Bored Ape NFT a holder possesses, they may “adopt” a selected Club Dog NFT for the cost of gas. Similar to apes, the 10,000 BAKC NFTs exhibit a variety of traits and oddities. 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.

Yuga Labs, the creator of the popular Bored Ape Yacht Club (BAYC) NFT collections, has also adopted APE as the primary token for all new products and services. ApeCoin will also be used to buy games and merchandise, attend events, and receive services. It also handles proposal management, and “other tasks that ensure the DAO community’s ideas receive the support to become a reality.” It provides legal support for ApeCoin DAO. A subcommittee of the Ape Foundation will also serve as the “board” of the ApeCoin DAO, which will oversee specific proposals. The ApeCoin website promises that DAO members will vote for future board members.

Launched in April 2021, Bored Ape Yacht Club (BAYC) features 10,000 unique Apes residing on the Ethereum blockchain. Each of these unique digital collectibles features a different look, style and rarity. The collection showcases algorithmically generated profile pictures of cartoon apes. The first quarter of 2022 was abuzz with the talks about ApeCoin (APE), a cryptocurrency adopted to be the native coin of Bored Ape Yacht Club (BAYC), developed by Yuga Labs. Since the ApeCoin DAO came into being in April 2021, the BAYC has been among the top nonfungible token (NFT) collections with a vibrant community. Apecoin price chart from TradingViewWith APE poised above the psychological $1.00 level, an uptick in broader market sentiment could help bulls target the supply wall around $1.29.

ApeCoin (APE) was launched in March 2022 as an ERC20 token, meaning it runs on the Ethereum network. This means ApeCoin users benefit from Ethereum’s security and technology and that ApeCoin has the ability to be used on any Ethereum DApp in the future. ApeCoin is many things, but primarily it’s the result of a vision to link many different decentralized projects together. This is shown by its creators, Yuga Labs, stating that ApeCoin will be the https://www.xcritical.in/ coin and token (APE token) for all new products and services launched by their company — from in-game currency to governance tokens. Thus, as both an ApeCoin cryptocurrency and an APE token for utility, ApeCoin has been built to launch all Yuga Lab’s future plans in the crypto space. The world of decentralized finance (DeFi), from decentralized applications (DApps) to the whole decentralized community, is expanding at an incredibly rapid rate.

• Due to the large following of the Bored Ape Yacht Club and YugaLabs’ plans to make ApeCoin the default currency for all their web3 projects, this cryptocurrency might stick around.
• YugaLabs plans to take it even a step further and create an entire community based around web3 and blockchain technologies.
• 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.
• It’s also used by a number of developers outside of the APE ecosystem, such as play-to-earn (P2E) game Benji Bananas by Animoca Brands, which uses ApeCoin to incentivize and reward players.

ApeCoin is the native cryptocurrency for the ecosystem and also serves as the governance token. It plays an essential role in allowing people to vote on and build AIPs. The DAO’s decisions are then implemented by the ApeCoin Foundation, which serves as the DAO’s legal representative and supports the growth of the ecosystem in various ways.

It is powered by the ApeCoin blockchain, a distributed ledger that records all the transactions made on the network. The ApeCoin blockchain is maintained by a network of computers called nodes, spread across the globe. Each node in the network stores a copy of the blockchain and verifies all the transactions on the network.

They can decide how to allocate the Ecosystem Fund, make governance rules, select projects, partnerships, etc. After the DAO members vote on the proposals, the APE Foundation will proceed to carry out the community-led governance decisions. ApeCoin seems to have stabilized but it’s still very early days in the token’s life.

It just takes a few minutes to open a cryptocurrency exchange account if you don’t already have one. As the ecosystem’s open-source protocol layer, ApeCoin serves various objectives. ApeCoin DAO(Decentralized Autonomous Organization) exists because decentralized governance is essential for establishing and sustaining a globally distributed community. DAO treasury and resources will receive 470 million tokens from the same pool, with 117,500,000 unlocked upon launch and 7,343,750 released monthly for the next 48 months. The Bored Ape Yacht Club has one of the most popular NFT collections.

All BitPay merchants have the option to accept ApeCoin as payment, opening up thousands of new ways to use and spend the token. You can send ApeCoin payments from any compatible wallet, including the BitPay Wallet. Use the BitPay Card to instantly convert APE to cash online, in-store or at compatible ATMs around the world.

Animoca Brands’ Benji Bananas is a play-to-earn (P2E) game in which players can realize their gains in the form of ApeCoin. It is the vision of ApeCoin’s creators that this kind of what is apecoin adoption expands and continues into the future. When the company announced the minting of 55,000 parcels of digital real estate NFTs called “Otherdeeds,” they were priced in APE.

They also hope to make the system even more user-friendly and easy to use. It is responsible for day-to-day administration, bookkeeping, project management, and other duties that ensure the ApeCoin DAO community’s ideas get the support they need to manifest into reality. It is not an administrator but rather the Foundation upon which ApeCoin DAO holders might grow.The Foundation promotes decentralized and community-led governance, intending to become even more decentralized over time. Apart from this, the APE Foundation administers proposals that are already agreed upon by ApeCoin holders. Before moving on any further, it is probably worth noting that, ApeCoin is a decentralized project that is known to have been inspired by Yuga Labs’ Bored Ape Yacht Club project.