What is ApeCoin APE Explained: Meaning & Definition

The related term bear whale describes a whale trader who is bearish on the market and believes prices will fall. Crypto slang for wrecked, rekt is what happens when a trader experiences severe financial loss due to a bad trade or investment. No-coiner is a derogatory term for someone who is highly critical of crypto and what is apecoin believes that cryptocurrencies have little to no value.

Crypto market capitalisation explained: what it is and why it matters?

The only difference is that you use U.S. dollars to buy and sell cryptocurrencies instead of traditional financial https://www.xcritical.com/ investments, such as stocks and bonds. Cryptocurrencies, like ApeCoin, are decentralized digital assets that typically act as a proxy for the success of a particular crypto project. However, cryptocurrencies are a high-risk asset class, so any investment in this market should be preceded with in-depth research into the cryptocurrency you plan to purchase.

What Happened to Bored Ape Yacht Club?

ApeCoin’s primary use is as a governance and utility token within the APE ecosystem. It allows holders to participate in DAO governance votes while also offering access to members-only features of the ecosystem like games, events and other services. It didn’t hurt that celebrities including Madonna and Justin Bieber started buying them as well. While stealing blockchain art monkeys might seem somewhat abstract, it’s easier to understand given the titanic valuations behind the Bored Apes. In April 2022, entry-level prices reached nearly $US420,000—that’s expensive art, making them fat targets for heists. Of course, what goes up in the world of inflated valuations, must come down and BAYC has landed with a crashing thud.

The Bored Ape Phenomenon and the Rise of Crypto Apes

If Otherside becomes popular and people find it, it will naturally also affect the demand of ApeCoin. Otherside will certainly not be Yuga Labs’ last release, and in the future ApeCoin will be seen as part of Yuga Labs’ new products and services. Since Yuga Labs has announced that ApeCoin will be the main means of payment in its future products and services, as the ecosystem grows, the uses for ApeCoin and thus the demand will also grow.

How to take a loan with CoinName (CoinTicker)?

• Whether the Bored Ape collection is truly worth millions of dollars has been hotly debated.
• ApeCoin (APE) is the native cryptocurrency token for the Bored Ape and Mutant Ape ecosystem.
• ApeCoin (APE) is the official native currency of the APE ecosystem, released in March 2022.
• These NFTs are graphical representations of cartoon-like apes with specific traits.
• 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.

On March 11, 2022, Yuga Labs acquired the intellectual property for rival NFT collections CryptoPunks and Meebits, giving it ownership of the brand and logo of each of those NFT collections. CryptoPunks is one of the earliest NFT projects and was among the most valued NFT collections on the NFT marketplace OpenSea. It had a total trading volume of 1 million ETH before it was delisted in February 2022 for a copyright violation. One of the most common crypto slang terms referring to decentralized applications.

Alternative Ways To Buy ApeCoin

This means that the person agrees and acknowledges the suggestion to invest in Ethereum.It is commonly used in chat rooms, forums, and other online platforms where people are discussing cryptocurrencies. When launched, a BAYC NFT cost 0.08 Ether (ETH), the native cryptocurrency of the Ethereum platform. By mid-October 2022, it had climbed to a “floor price” of 76 ETH, or approximately $100,418. An NFT’s floor price is the minimum price allowed for an NFT within a collection.

NFT Glossary – Basic Terms and Slang You Need to Know

The related flappening is a term coined by Charlie Lee in 2018 to describe Litecoin (LTC) surpassing Bitcoin Cash (BCH) in market capitalisation. A combination of NFT technology, eye-catching art, and some hype have propelled prices of Bored Apes into the six figures. The lowest price for a Bored Ape was about $262,630 as of Thursday, according to DappRadar, which tracks NFT prices. There are 10,000 original Bored Ape NFTs, each with a different combination of features like fur color, background color, outfits, and accessories that make each one unique. These features give each ape a certain value, depending on how many apes also share the same characteristics. Bored Ape Yacht Club, or BAYC, is a top-selling series of NFTs owned by Yuga Labs.

It is often used in the crypto world to refer to insider information or things that only those with a lot of experience and knowledge would understand. It implies that someone has insider knowledge that others don’t, and it can be used as a way of saying “trust me” or “you’ll understand if you’re in the know”. It can also be used to acknowledge something that might not be so obvious to the average person, but is well known among insiders.

HODL, FUD, SAFU, and other crypto slang terms you need to know in 2023

When someone asks you “w(h)en Lambo?” they’re either sincerely interested in the development of your trading strategy or envious of your well-informed investment decisions that are elevating you to the Lambo level. Wrongdoers use FUD to persuade susceptible users into thinking badly about a specific brand, product, service, or reality as a whole. A sneaky vanishing act, also known as “take the money and run,” that, unfortunately, contributes to the negative perception of the crypto community. Unlike centralized exchanges, DEX platforms have no central authority, and offer self-custody of funds, data protection, and privacy.

The most important piece of the APE ecosystem is an organization called APE DAO, whose governance token is ApeCoin. Decentralized Autonomous organization (DAO) refers to a decentralized autonomous organization where cryptocurrency gives the right to vote in the organization’s decisions. The APE Foundation is responsible for the practical work of APE DAO, whose main task is to implement the decisions made by APE DAO in practice. ApeCoin (APE) is the official native currency of the APE ecosystem, released in March 2022. Technically, ApeCoin is an ERC-20 token operating on the Ethereum network.

Airdrop Meaning –  Free or bonus NFTs offered by creators as a reward to investors or to generate interest in their project. This word is often used as a noun or verb as a general term in the crypto world. As a noun, it typically refers to the Bored Ape Yacht Club, or sometimes NFT sets with the name ‘ape’ in it (but is very uncommon). Suppose this is how you feel while trading; FOMO is most likely an issue for you. However, you’re probably more concerned about how much money you can make on a trade instead of focusing on executing your former trades correctly.

It’s important to remember that FUD should not be taken as truth, but rather as a potential sign of manipulation. It has set a new standard and pace for other NFT collections with the various additions and the project’s evolution. Yuga Labs has introduced products built on the blockchain as well as physical products from the Bored Ape collection. BAYC has enticed several celebrities and brands to own pieces of its NFT collection. Adidas contributed to the hype surrounding the NFT collection by launching “Into the Metaverse,” its native digital collectible, in partnership with Bored Ape Yacht Club, Gmoney, and PUNKS Comic. The tokens are a hashed version of the image’s metadata, and the images are stored (hosted) elsewhere.

We can only speculate about its future and advise to always invest with caution. There are also plans to enable holders to stake the token and thus earn an income from GameFi applications. Finally, 80 million tokens go to Yuga Labs and BAYC founders with an initial 12-month lock-up period and 2,222,222.22 tokens unlocked per month for 36 months. Launch contributors, each with a different lock-up schedule, are also awarded 140 million tokens. Take a look at Tap’s journey this year — from new breakthroughs, expansions, bold moves, and exciting changes that are reshaping your financial experience.

You may also be asked questions about your income and your level of expertise as an investor. The first thing you need to do if you are looking to buy ApeCoin is to sign up for an exchange that supports the cryptocurrency. Currently, Binance, Coinbase, and Kraken are among the largest exchanges supporting APE. The token also exists to incentivize third-party developers to participate in the APE ecosystem by building applications that incorporate ApeCoin.

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. The entirety of the next 14% (140 million tokens) were paid out to various launch contributors for helping bring the project to life. The final 8% tranche of ApeCoin (80 million tokens) was distributed to the quartet of founders behind Yuga Labs and BAYC.

Here is a non-exhaustive glossary of crypto expressions you may or may not know the meaning of. ApeCoin’s supply is fixed at 1 billion APE, meaning tokens cannot be mined or burned. 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.