In today's video, we're going to tell you about a crypto project that has been making a lot of noise in the last few days. And people have already earned thousands and millions of dollars from it. You must have this crypto in your wallet if you want to make a lot of money this year.
So, as usual, watch this video until the end because not only are we going to decipher this project for you, but we're also going to tell you how you can make money with it.
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Let's get started!
ApeCoin is the project we are talking about.
So, if you have an Internet connection, you're probably familiar with the Bored Ape Yacht Club (BAYC) NFTs, those multi-million-dollar images of monkeys that every artist and the wealthy person wants.
Yuga Labs, the company behind the project has not only raised more than $450 million but also bought the licenses of other NFTs collections like the Crypto Punks and the Meebits.
And most importantly a few days ago, they launched their cryptocurrency already available on several exchanges.
ApeCoin DAO has taken another step in its attempt to build a larger media empire around the Bored Ape Yacht Club series of non-fungible tokens (NFT), with the announcement of this crypto, ApeCoin being the "primary token for all new products and services" from the company.
The NFT Bored Apes Yacht Club (BAYC) project only launched in April of last year but has quickly become the most valuable NFT project in terms of market capitalization. The entry price to buy the cheapest 10,000 NFTs currently stands at around $240,000 in Ethereum cryptocurrencies. One of the most anticipated projects is the promised Bored Ape blockchain game by Yuga. This game will use APE as its official currency. Other projects include merchandise that users can purchase with APE, as well as events that will use APE payments.
The token was launched on March 18, 2022, so users can start buying APE. The exchanges on which the token is traded are FTX, Gemini, Gate.io, Huobi, and Uniswap (UNI-USD), and others currently launching the token.
On its first day of trading, it appears that APE is experiencing some volatility. The token is losing more than 18%. However, the trading volume is quite high for just one day: over $800 million worth of APE has been traded so far.
Before telling you why ApeCoin is an interesting project, we invite you to like and share this video if you haven't already done so.
Now, let's continue.
Well, as you can see, at the moment, there is no use for this token yet. So, all this remains a bet on the future. Certainly, Yuga Labs has a lot of money, and a huge community but they still have to create from scratch the ecosystem that will make this community happy.
The good thing is that Yuga Labs seems to know exactly where they are going. Their strategy is to attract even more NFT owners with other collections that are cheaper than BAYC. They also want to offer the possibility for people to create their own NFTs characters in their future games and of course, offer a bunch of services using their ApeCoin.
As you can see, Yuga Labs is planning to put a lot of effort into the development of its ecosystem. We think they will even offer an SDK while continuing to push their monkeys to the hype with the help of the artists who buy them.
It remains to be seen if they will manage to achieve all their goals before their community gets bored. And to find out, nothing could be simpler: It will be enough to monitor during the next months or years their blockchain to see if the number of transactions remains growing. But, one thing is sure, before that, you will have already made a maximum profit with it. Of course, this is not investment advice. So, you need to do your research first before deciding to invest in cryptocurrencies in general.
Now let's talk about the ApeCoin token.
Well, you probably already know that. ApeCoin is an ERC-20 token that will allow its holders to participate in the ApeCoin DAO.
1 billion coins are available. It will also be a utility token that will be used for all transactions related to the BAYC ecosystem.
By owning the rights to 3 huge NFT collections which are, BAYC, Cryptopunk, and Meebits, Yuga Labs has a gigantic community. And by creating maximum utility for their token, they hope to make ApeCoin a currency of choice that will be used in the economy of future P2E games, in the sale of NFTs digital objects, or why not in a gaming-oriented metaverse.
However, it is not excluded that Yuga Labs will buy other NFT collections in the future to increase the size of its community even more.
It's a blank page that is being written before our eyes, and users are finding it exciting.
If you want to buy ApeCoin, you have to be careful, because there are 2 ApeCoin that exist. The real token ERC-20 was released by Yuga Labs and another token BEP-20 has nothing to do with the NFTs of BAYC. So, be sure not to make a mistake if you want to buy one.
There are many platforms currently offering to buy ApeCoin (APE). While the list is long, we have selected only the 3 best ones, namely eToro, Coinbase, and Binance. To establish our list, we based ourselves on reliability, accessibility and of course, the prices offered.
We strongly recommend you to go through Binance or eToro to be sure to have the right token.
APE (ApeCoin) today is trading at $12.89 USD, up 0.91% over 24 hours. The cryptocurrency APE has a 24-hour trading volume of $1.1 billion, with a market cap of $3.6 billion. If the forecast is right then the EPA should reach $20 by the end of the month.
It's hard to say if this token is a good investment or if it will have any real use, the runaway success of Bored Ape Yacht Club may propel "its" token but may also piss off the crypto community who may see this project as just another way for the very rich to get even richer by playing on the hype.
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