Is 2022 The Perfect Time To Buy Apecoin?
The answer to the question is now a good time to buy ApeCoin largely depends on ApeCoin Price Predictions in 2022 and beyond. As per ApeCoin forecasts, APE is predicted to cross the $100 milestone in the medium, and long term.
Some of the key points as to why now is the right time to buy ApeCoin are:
Key Points
- ApeCoin’s fundamentals are just getting started.
- ApeCoin is relatively cheaper.
- The Crypto market is recovering from the bearish engulfing of 2022.
- ApeCoin has an impressive market capitalization for a new project.
The crypto finance market reached new milestones in 2021 which saw Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Cardano (ADA), Internet Computer (ICP), and Ripple (XRP) reach new all-time highs.
Their market capitalization led to a cumulative market cap of more than $2 trillion for the entire decentralized finance market.
The story has been a bit different in 2022 after the market carried its bearish engulfing of 2021 into the New Year.
With that said, one of the biggest crypto winners in 2022 has been ApeCoin (APE).
The ape-inspired token has returned more than 3,000% for early traders and investors.
As such, despite its drop by more than 70% in April 2022, those who got into the action early have taken off with massive gains.
But what about beginners who look forward to investing in ApeCoin today.
Is now a good time to buy ApeCoin?
Follow this resourceful piece in its entirety as we analyze whether or not now is the perfect time to buy APE?
Staking ApeCoin
There are two forms of staking when it comes to the crypto finance space.
Staking crypto tokens involve committing some of your digital assets such as ApeCoin to support a blockchain network and confirm transactions.
ApeCoin is currently a proof-of-work (POW) token. POW tokens require mining.
APE is a POW token because it is housed in the ecosystem of Ethereum.
In March 2022, the Ethereum Foundation announced that the “Merge” had successfully taken place on the Kiln testnet.
This is the final public testnet that transitions Vitalik Buterin’s innovation from Ethereum 1.0 (proof-of-work network) to Ethereum 2.0 (proof-of-stake network) later in 2022.
Once this happens, APE holders can receive staking rewards when they commit a part of their tokens to help the ApeCoin protocol confirm transactions.
Another form of staking happens on cryptocurrency exchanges.
As of writing, approximately 43 exchanges support the trading of ApeCoin. Out of this, Binance, OKX, and Coinbase provide staking services to their customers.
On Binance for instance, you can lock your crypto tokens in your crypto wallet to support the operations of the Binance Smart Chain.
On Coinbase, you can earn up to 5% annual percentage returns on your crypto.
Coinbase believes that staking for newbies is very difficult. This is because they have to run nodes on their hardware and sync it to the blockchain.
Coinbase takes your crypto and embarks on the staking process for you.
Although the cryptocurrency exchange stakes, generates, and signs blocks on your behalf, you earn rewards and retain full ownership of your coins (in this case APE).
Overall, you can make 5% to 20% on your ApeCoin stake depending on the number of APEs you throw into supporting a particular blockchain.
The additional reward that comes with owning APE in the form of staking is one of the reasons that could lead to a spike in the valuation of the cryptocurrency in the future.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
ApeCoin Is Relatively Cheaper
As of writing, there were 18,864 cryptocurrencies in the market. ApeCoin has a price that is below Bitcoin, Ethereum, Binance Coin, Solana (SOL), Terra (LUNA), Avalanche (AVAX), Polkadot (DOT), Wrapped Bitcoin (WBTC), Litecoin (LTC), Cosmos (ATOM), Bitcoin Cash (BCH), FTX Token (FTT), Monero (XMR), Elrond (EGLD), Axie Infinity (AXS), Aave (AAVE), Zcash (ZEC), and Maker (MKR).
These are cryptocurrencies in the top 60 by market capitalization.
Suppose you have $1 million and you are searching for a cryptocurrency to buy for the long term, you can buy around 82,644 APEs.
The same amount of money can buy you around 24 BTCs, 326 ETHs, 2,381 BNBs, 9,673 SOLs, 11,457 LUNAs, 12,745 AVAXs, 55,803 DOTs, 9,124 LTCs, and 3,038 BCHs among others.
One of the factors millions of crypto fans have failed to take into recognition is percentage change.
At APE's price is around $12, the token needs to reach a trading price of $24 to see a 100% gain.
For Bitcoin to double your investment, it needs to cross $80,000. Ethereum needs to trade around $6,000 before you can double your investment.
Although it is not impossible, there is a huge chance of APE reaching $24 in the short term than Ethereum and Bitcoin reaching $6,000 and $80,000 respectively.
Now is the perfect time to buy ApeCoin.
Due to its relatively lower price, you can buy more, and see massive returns in the short, medium, and long term.
Don't Miss: ApeCoin (APE) Price Prediction
The Popularity Of The Bored Ape Yacht Club (BAYC) Is Still Present
Aside from Axie Infinity and Crypto Punks, the next most successful NFT project by sales volume is BAYC.
The digital collectibles continue to see huge investor interest daily, which is reflected in unique buyers and total transactions.
As more people buy one of the 10,000 unique bored apes, there will only be one outcome which is a reflection in the price of APE.
According to Google Trends data, Bored Ape Yacht Club has waned to 33 out of a 100.
Overall, interest in cryptocurrency has also sunk to new lows of 21 out of 100.
Should the bulls return at some point in time in 2022 which will see more BAYCs purchased and sold at record prices, ApeCoin could also increase and reach new milestones.
With communities across Twitter, Instagram, Facebook, Telegram, and Discord, now could be the perfect time to buy APE so that you do not miss out on potential gains just like what happened in March 2022.
ApeCoin Has The Support Of High Liquidity Exchanges
Bitcoin and Ethereum’s success is down to how accessible they are on the biggest cryptocurrency exchanges in the crypto finance space today.
ApeCoin (APE) surpassed tokens such as Solana, Avalanche, Polkadot, and others in gaining the support of all major exchanges on its day of launching.
In 2021, many of the pros of investing in cryptocurrencies list the support of Coinbase and eToro.
Once Coinbase and eToro announced support for the trading of Dogecoin (DOGE) and SHIB, the tokens saw a substantial rise in their prices.
Fortunately for you as a beginner, APE did not have to go through petitions before being accepted by eToro, Coinbase, Binance, Crypto.com, BitMart, Kucoin, and Kraken among others.
Institutional investors controlled the crypto market in 2021.
The largest digital asset management firm, Grayscale launched Trusts for several cryptocurrencies in 2021.
Supposed whales buy 50 million, 100 million, and 200 million APEs within one month, they would not have to struggle to find places to buy these tokens.
Neither would they struggle to find crypto wallets to store their APEs should they opt against holding their cryptocurrencies in custodial wallets.
You can choose from one of forty-three (43) exchanges as the best way to buy ApeCoin in 2022.
This way, you can invest in APE today, and reap the rewards thereof in the future.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Overall Market Momentum Is Down, Which Is A Positive
As a novice or beginner trader, you should know that bears follow bulls and bulls follow bears. In May 2021, the crypto finance market had enjoyed 5 months of bullishness.
After Elon Musk announced that Tesla has rescinded their decision of accepting Bitcoin as a payment method which is fueled by China’s crackdown on the use of all forms of cryptocurrencies, the market took a nosedive.
The market went bearish in the last two weeks of May, the whole of June, and July, and made a slight recovery in August.
The bears followed in September and October before the bulls took over the market again in November 2021.
The eleventh month of 2021 became a record-breaking period for Bitcoin and Ether as they neared $70,000 and $5,000 respectively.
Now that you have understood bears following bulls and vice versa, now is the time to buy ApeCoin.
This is because the market is in a bearish cycle.
It tried to make a recovery in March but faced some resistance which saw another price correction in the third month of 2022.
It takes one positive news to get the market back to a bullish cycle. Once that happens, should there be rallying in the price of APE, you should know that you are on your way towards doubling, tripling, quadrupling, or quintupling your investment.
Don't Miss: 3 Reasons To Buy ApeCoin (APE) And 1 Reason To Sell
Conclusion: Is Now A Time To Buy ApeCoin?
Now is the perfect time to buy ApeCoin. APE is not that cheap when compared to DOGE, ADA, XLM, XRP, and IOTX among others. On the other hand, ApeCoin is cheap because it trades for a fraction of the price of Bitcoin and Ethereum. This way, you can buy more APEs, and see where it can take you in the next 5, 10, or 15 years.
Open an account with eToro, deposit some funds with USD, and finally – buy ApeCoin from just $10.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Read More:
Could ApeCoin Be A Millionaire-Maker Coin?
Is ApeCoin (APE) Safe To Invest In?
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