Cryptocurrency is gradually becoming an important direction for investment in the financial sector. After hearing about famous cryptocurrencies like Ethereum and Bitcoin, some investors may choose relatively newer cryptocurrencies, and APE coin has become one of the popular ones. So what is APE? Is it a choice for investors, or do they foresee that APE will become a hundredfold coin? APE coin is the cryptocurrency launched by the Bored Ape Club, which gained considerable popularity within a few months of its launch due to its consistently high price. However, the probability of it becoming a hundredfold coin in the future may be relatively low. Next, I will explain in detail.
OKX_ Global digital currency trading platform, click the link below to register on the OKX exchange official website and receive a blind box reward of 10,000 USDT!
OKX registration address: https://www.okx.com/join/OK234
Huobi / Binance / OKX Android APP download: https://688li.com/
Binance registration address: https://www.binance.com/zh-CN/join?ref=587926281
What is APE?
APE is an ERC-20 token that runs on the Ethereum blockchain. It is the governance and utility token for the Bored Ape community and related communities, used to authorize and incentivize the construction of decentralized communities at the forefront of web3.
APE comes from Yuga Labs and is the native cryptocurrency of the Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) ecosystems. Investors holding APE are members of the Ape decentralized autonomous organization, allowing them to vote on system improvement proposals and manage the community around the token.
In addition to its use in network governance, APE has also become a utility token or currency in web3 projects such as games and virtual worlds. According to Yuga Labs, APE will become the currency driving the economic development of the metaverse. The APE website states that it will "serve as a decentralized protocol layer to drive community-led initiatives that bring culture into the metaverse."
Additionally, APE has utility in merchandise sales, with the Bored Ape Yacht Club launching products featuring the APE label, which also increases the value of the APE token.
APE can also be used as a payment method for community events, and the Bored Ape community is one of the largest NFT communities in the world. Therefore, the expansion of these events will bring more positive impacts to APE.
Will APE coin become a hundredfold coin?
Currently, the probability of APE coin becoming a hundredfold coin is relatively low. The current price of APE coin is $1.4067, with an issuance price of $1, resulting in an investment return of +40.67%. The maximum supply is 1,000,000,000 coins, with a market capitalization of $518 million. Currently, it is listed on 55 exchanges, and there is still a long way to go before reaching a hundredfold coin.
The future of APE coin is closely related to the development plans of the creative team Yuga Labs and ApeCoin DAO. It can be seen that every significant rise in APE is related to activities launched by Yuga Labs, including the virtual land Otherdeed and the launch of APE staking activities.
Therefore, Yuga Labs' future plans will also have a significant impact on the price of APE coin (the launch timing of several GameFi projects, the usage of APE coin). Keeping an eye on the latest news from Yuga Labs on Twitter will be quite important.
The above content answers the questions of what APE is and whether APE coin will become a hundredfold coin. By 2030, NFTs may become part of many investment portfolios, and the Web3.0 blockchain market is expected to grow exponentially by then. If the Ape coin project can find a place at the forefront of these industries, the price of APE may rise accordingly. However, the cryptocurrency market is full of uncertainties, and no one can accurately predict the future. Therefore, investors should make judgments based on the current market conditions when choosing to invest in APE coin and develop reasonable investment plans without blindly investing.