Is It Too Late To Buy ApeCoin (APE)?

Last Updated April 19th 2022

7 Min Read

Key Points

ApeCoin has skyrocketed this year – becoming a top 50 digital asset by market capitalization.
Investors can hold ApeCoin as an investment (store of value) or use the token as a payment method (utility).
At the same time, several ICOs continue to be launched which see more tokens added to the already saturated market.

A Strong Crypto Community Has Pushed ApeCoin Into The Stratosphere

ApeCoin (APE) has been one of the major successes of 2022 from a market performance point of view.

This young cryptocurrency with less than a month of trading experience, as of writing, soared more than 3,800% within a few hours on its opening trading day.

It continues to climb north which has seen it categorized as a medium-cap digital asset by market capitalization.

APE falls into the top 50 cryptocurrencies by market value, according to CoinMarketCap.

Now heading into one month of trading, several traders and investors continue to wonder what will happen next for ApeCoin. Others have been asking the question, is now the time to buy ApeCoin?

Some also believe that ApeCoin may have outrun its success story and ask whether it is too late to buy ApeCoin.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

ApeCoin’s Popularity

First and foremost, let us take an extensive look as to why ApeCoin has become so popular in less than one month of becoming a part of a market that boasts of more than 18,800 cryptocurrencies.

ApeCoin’s popularity is largely credited to the crypto community behind the project.

The ApeCoin Foundation is the team behind the ApeCoin ecosystem and well-known influential figures make up the core of this team. Among others are Maaria Bajwa (Principal at Sound Ventures), Amy Wu (Head of Ventures & Gaming at FTX), and Dean Steinbeck (President and General Counsel at Horizen Labs).

The project was inspired by the success of Yuga Labs’ Bored Ape Yacht Club and Mutant Ape Yacht Club projects that have become one of the most successful NFT collectibles concerning sales volume.

The ApeCoin project, as of April 2022, seems to have worked perfectly.

APE reached an all-time high price of close to $40 on its opening day of trading.

It continues to record more than $500 million in daily volume, signaling the followership of more than 1 million investors.

It is important to note that APE has less than 2 months of experience as a crypto project, so with the statistics provided, the ApeCoin project has gained major momentum in a short period.

APE only trades in the range of $10 and $15 in April of 2022.

Seeing the high percentage gains some individuals have enjoyed in March 2022, the fear of missing out (FOMO) has spurred many investors to pour more liquidity into the cryptocurrency.

Now, let us dive into the questions about ApeCoin’s future – and whether people should invest in APE with their hard-earned money. To tell you the truth, APE lost some of its momentum in April 2022.

It is down by more than 70% from a peak reached on March 17, 2022.

In the same time frame, several cryptocurrencies including Bitcoin and Ethereum have experienced drops in valuation, so this should not be a worry for investors.

What should get you worried is that ApeCoin could have an exciting ecosystem but so far offers nothing that could see it stand out from the competition.

The stressed word in the previous sentence is “could”.

There is no guarantee that ApeCoin would have an exciting ecosystem.

It depends on the kind of innovation that the team behind the project would add to the decentralized finance space.

Rival projects such as Wax (WAX), Avalanche (AVAX), Solana (SOL), Algorand (ALGO), IoTeX (IOTX), TRON (TRX), Binance Smart Chain (BSC), and Flow (FLOW) have blockchains that host decentralized applications (DAPPS) that challenges how centralized finance goes about investments.

ApeCoin is housed in the blockchain of Ethereum, it is not a blockchain in itself that can offer several DAPPs.

Don't Miss: ApeCoin (APE) Price Prediction

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Hold, Trade Or Pay With ApeCoin

ApeCoin is a digital currency. Therefore, it comes with the same functions as Bitcoin and other cryptocurrencies.

Investors can hold onto APE as an investment instrument, trade it for more money, or employ it as a transactional currency that can be used to make purchases of goods and services.

As of writing, APE is a single cryptocurrency with a basic function.

In the not-too-distant future, when Ethereum becomes a proof-of-stake (POS) network, APE will also offer its holders staking rewards for the validation of transactions.

In less than a month, ApeCoin has been accepted as payment by BC.GAME. BC.GAME is a crypto casino that blends the use of fiat with crypto as a payment method. APE has been listed for deposits and withdrawals.

Therefore, people who enjoy gambling with cryptocurrency can enjoy crypto slots, crypto roulette, and crypto slots-free spins on BC.GAME using their ApeCoins.

In March 2022, Time magazine announced that ApeCoin will soon be accepted as a payment method for digital subscriptions. TIME has more than 20 million customers.

Supporting APE is giving the token mileage which could impact the price of the token positively. That is great news.

The only problem is that other crypto tokens are used for payments on thousands and even millions of merchants. Therefore, this does not give APE any unique standing in the saturated crypto finance market.

To add insult to injury, new cryptocurrencies with unique innovations are constantly popping up daily. According to Statista, there were 66 digital tokens in 2013.

As of writing, there were around 18,866 cryptocurrencies in the market. This does not bode well for APE going forward.

This is because new projects always see their native assets or novel tokens go up, experience steep falls and some tokens never recover their valuation.

A clear example of this can be attributed to SAFEMOON which struggles to record more than $100,000 in daily volume in April 2022. Aside from SafeMoon, you can use Internet Computer (ICP) as another case study.

ICP opened strongly in May 2021.

As of writing, Internet Computer trades for less than 80% of its all-time high price recorded in the peak of the market in the fifth month of 2021.

There may be short-term gains ahead for ApeCoin.

But when you do a thorough analysis of APEs price performance in one month coupled with the fact that it currently thrives on the fortunes of the Bored Ape Yacht Club to remain relevant, this is cause for worry.

The worry is in ApeCoin’s ability to deliver relevant and lasting gains in the short, medium, and long term.

Therefore, we would advise all traders and investors to be patient in their decisions to invest in ApeCoin with huge sums of money.

A token cannot rely on the success of one project forever. It would have to find its feet in the market sooner rather than later.

Check Out: Should You Buy ApeCoin (APE)? 5 Pros, 5 Cons

Should You Invest $1,000 in ApeCoin Right Now?

Before you consider investing $1,000 in APE right now, we would urge you to analyze the pros and cons of investing in ApeCoin. Aside from that, find other reasons why you should buy APE.

With that said, most analysts, gurus, and experts believe APE could reach new milestones in the future.

Should you decide to invest $1,000 in ApeCoin, you would be able to buy approximately 75 APEs.

Should APE cross the $100 mark which has been predicted by many analysts at some of the most reputable forecasting portals, your investment could mature to USD 7,500.

But before you do this, although it is not too late to invest in ApeCoin, you should know that all investments come down to two factors. They are risks and rewards.

As a potential investor, you should always ask the question, do the potential rewards of investing in ApeCoin with $1,000 exceed the possible consequences of the risks?

APE is relatively cheaper, has been listed by eToro, Coinbase, and Binance for trading, and could potentially have an exciting ecosystem.

On the other hand, the project is young, and as such, it is difficult to draw qualitative conclusions as to the future price patterns of its novel token, APE.

Investing in APE has helped transform the portfolio of millions, investing in APE now could be one of the best investment decisions you have taken in years.

Open an account with eToro, deposit some funds with USD, and finally – buy ApeCoin from just $10.

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