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    AN APE COIN A DAY, KEEPS YOUR CRYPTO AT BAY

    Why Ape Coin?

    In the previous 14 days, the price of Ape Coin has increased by around 50%. According to data from CoinGecko and CoinMarketCap, it has also been one of the most popular cryptos in recent weeks. That means that someone who put Rs 1 lakh in Ape Coin 14 days ago would now have Rs 1.5 lakh in their account. It goes without saying that investing in Ape Coin seems like a brilliant option for crypto investors right now. Ape Coin’s price surged from $11.57 on April 17th to nearly $26 on April 28th, according to CoinGecko data.

    What is an Ape Coin?

    Within the APE Ecosystem, it is an ERC-20 governance and utility token. Yuga Labs’ Bored Ape Yacht Club inspired this decentralized initiative. The coin is now available for use in the APE Ecosystem. On CoinMarketCap, it is now ranked 28th among the top cryptocurrencies by market capitalization. ApeCoin DAO, a decentralized autonomous organization, manages APE. AP has been embraced by ApeDao as the principal token for the BAYC ecosystem as well as future Yuga products and services, despite the fact that the two companies are independent. Its holders, according to Yuga Labs, have governance powers over the DAO and its decision-making, as well as other benefits.

    In March of this year, the BAYC released APE. APE was selling at roughly $8 in the early days of the introduction. BAYC NFT holders were initially offered the opportunity to claim ApeCoin for free. The ApeCoin airdrop by YugaLabs caught the BAYC community off guard. According to CoinMarketCap, the maximum quantity of APE tokens is 1 billion, with 277.5 million now in circulation. Given the current ApeCoin price, the coin has a market capitalization of $4.02 billion, making it the 45th largest cryptocurrency worldwide. Ape Coin’s climb to notoriety has been astonishing, given that it was just created a few weeks ago.

    How did the Ape Coin rise?

    The Ape Coin was first delivered as a “reward” to owners of Bored Ape Yacht Club and Mutant Ape Yacht Club NFTs. Owners of Original Bored Apes received 10,094 tokens, which are worth more than $150,000 at current values. NFT holders will receive 15% of APE tokens, with the remaining 47% going to the DAO to help the project expand in the next few years. Ape Coin might become one of the top altcoins in 2022 if the price continues to grow, given the amount of media attention it has already received. Because the price is still forming a structure, it’s difficult to generate meaningful forecasts based on technical analysis, as it is with all new coin offerings.

    ApeCoin’s major application is as a decentralized payment system. The precise projects with which Ape Coin plans to collaborate are still unknown, while there are reports that the coin could be integrated into a variety of blockchain-based games. According to Fortune.com, a planned project by Animoca Brands, one of ApeCoin’s early backers, appears likely to employ APE, boosting demand for the token.

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