Last Updated on January 4, 2023
If you’re looking for a hot new cryptocurrency, there’s no doubt that ApeCoin should be on your list of digital tokens to buy. These coins have got quite a lot going for them; from their association with the popular Bored Apes NFTs, to their utility within this ecosystem. Essentially, if you’re a fan of the Bored Apes, you’ll want to consider purchasing some APE tokens.
Here’s a closer look into why this particular coin could be worth the investment and what we can expect from the future of the rapidly growing cryptocurrency.
Table of Contents
While there are many different tokens that you could invest in, anyone who’s interested in Yuga Labs (the creators of the Bored Apes NFT collection and related projects) is certain to want to take a closer look into ApeCoin.
More than just a digital coin, the APE tokens can be used for a variety of things and are essential to the Bored Ape Yacht Club. Already, if you’re a member of the BAYC, this will be an appealing token – but there’s more that adds to the potential of this coin.
For example, the fact that this digital token is integrated into the Bored Ape ecosystem means that it’s already part of a popular and widely known crypto brand. Because of this, it will already have many supporters who are interested in it. If you’re an investor, you may just find that this offers an excellent opportunity to get into the Bored Ape Yacht Club niche and experience all the benefits that come from joining this unique crypto community.
Where to buy ApeCoin?
*all trading involves risk
As of March 24th, ApeCoin is worth only around $14 per token. However, it’s important to consider that the value of APE may not stay this low for long.
On its initial release, it was worth $13, but spiked as high as $40 – but since then it’s mostly remained between $7 and $17. Thanks to this, it’s still pretty easy to obtain for a range of people, whilst giving us an idea of what may be in store.
Over time, there’s certainly a chance for the prices to increase significantly, but right now it’s pretty low and therefore fairly accessible to anybody interested in buying.
It’s important to consider the potential that this token has for the future if you’re considering buying. Due to the fact that ApeCoin is still very new to the market, not many people have made up their minds on where they see this cryptocurrency heading. However, what we do know from its short stint on the market is that it has been extremely volatile so far.
This will likely prove to be both an advantage and a disadvantage, and only time will tell where the currency will really be in a few year’s time. For now though, many investors have a positive outlook – and considering its association with the Bored Apes and utility in Yuga Labs projects, it offers a lot that many other coins in its position simply can’t. It’s gaining notoriety and has a purpose, which can certainly do a lot for a new and upcoming cryptocurrency.
Other factors work in its favour too, like the high Google Search volumes every month, and the fact that it is currently on the rise again after a slump, showing that there’s still interest and demand in the market.
There are currently quite a few people speculating that the value of this cryptocurrency is going to rise, with many believing that it will be worth more than $100 in just 5 years, with many experts confident that it will reach at least $79 by 2027. Others think that these digital coins will hit $50 in the space of a few weeks and continue to rise even further in the coming months.
It’s expected that the maximum this digital currency will rise to is $21.75 by the end of this year, although the value is widely expected to continue to increase in the future. Of course, these are just price predictions and we don’t know for sure what will happen. It may be worth keeping in mind what other people are speculating though, for a well-rounded opinion of the currency overall.
After all, if the crypto community is generally positive about the investment potential, it’s probably worth looking into.
Outside of value, an important aspect to consider with ApeCoin is its utility. Without its numerous functions, it’s likely that it wouldn’t be gaining as much attention, so it’s well worth doing some research into how you could use your tokens.
While still a fairly new cryptocurrency, Yuga Labs has several plans for these tokens. For example, holders of APE will be able to vote on any proposals made by the ApeCoin DAO (Decentralised Autonomous Organization) giving anyone who’s part of the community a chance to decide on the future of ApeCoin and the Bored Ape Yacht Club.
You can also use ApeCoin to purchase other assets from Yuga Labs, like Bored Ape NFTs, for example. This also includes games, merch and much more, making APE the key currency for the whole ecosystem they’re creating – which is only going to get bigger as time goes by.
You’ll find that this digital currency is available on quite a few popular platforms already, such as Binance and Coinbase, so you shouldn’t have too much trouble with getting your hands on some of them. If you’re interested in purchasing a few tokens, be sure to find out which platforms support it – you may even find that an exchange you’re currently using does just that.
Even better, you’ll find that as the currency grows in popularity, it will probably be accessible on more exchanges, giving you even more opportunities to trade. If you’re looking for a new exchange, it’s worth thinking about some of the other factors that can come into play during your trades. A few important considerations include:
If you keep these few points in mind during your search, you’re likely to have a better chance of finding an exchange that you can rely on.
Alongside a crypto exchange, you’re also going to need to make sure that your wallet can hold ApeCoin. If you’re looking for a new one, you should take the time to consider which will be best for your needs. We’d suggest looking into some of the more popular options on the market, as long as they facilitate APE tokens of course. It may also be worth thinking about whether you’ll need a software or hardware wallet, since not all of them are as suitable for different trading strategies.
While ApeCoin hasn’t been around for long, there’s no doubt that it’s been turning heads in the crypto community. In the short amount of time it’s been around, it’s been an incredibly volatile asset – but while it’s still new and inexpensive, this may not be such a bad thing, especially if it continues to go up in value.
Many of those who are fans of the Bored Apes are already supporting these new coins, but even if you’re not part of the Bored Ape Yacht Club, it’s hard to deny that this digital currency has potential.
Everybody has a different idea of what may happen with this digital currency in the near future. One enticing speculation is that it’ll reach between $370 and $420 in the next 8 years – which is fantastic considering its current value.
The maximum amount of ApeCoin that will be produced is 1 billion, although only 62% of this amount will be made available to the ApeCoin community. You may also be interested to know that the current market cap is close to reaching 4 billion dollars.
Like any cryptocurrency, APE tokens have the potential to rise and fall in value. If you’re a fan of Yuga Labs, you may find it to be worthwhile for the utility alone. Outside of that, the investment potential is also incredibly enticing to crypto enthusiasts, which is also important to take into consideration.