Could ApeCoin make you a millionaire? Here’s everything you need to know before investing in APE.
The crypto space is home to many fascinating tokens representing various projects. However, currently, investors are especially interested in NFTs (non-fungible tokens). One of the most popular NFT projects of 2021 is the Bored Ape Yacht Club (BAYC). The team behind BAYC did not stop at NFTs. Instead, in March 2022, they launched ApeCoin (APE), a new cryptocurrency with a focus on expanding the BAYC ecosystem.
ApeCoin is the exclusive cryptocurrency of the Bored Ape Yacht Club, which has exploded in popularity in recent months. A euphoric price rally by APE has roped in investors worldwide. But is APE a good buy now? Why will ApeCoin skyrocket in 2022? Let‘s explore.
Why Choose ApeCoin?
ApeCoin has maintained incredible gains since its launch, making APE a crypto worth watching.
ApeCoin is an ERC-20 token built on the Ethereum network, launched by ApeCoin DAO, which will be governed by voting power granted through ownership of ApeCoin. The APE token will serve as a decentralized protocol layer for community-led- activities focused on enhancing the culture in the metaverse, like hosting events, developing digital goods, etc. The APE Foundation facilitates the decentralized development of the APE ecosystem and enables token holders in the DAO to create Web 3.0 applications and services.
Meanwhile, the APE token gained listing across some of the leading crypto exchanges like FTX and Binance within a short period. With a bright future ahead for Bored Apes and BAYC related companies, ApeCoin seems to be a potential utility token for the rapidly growing ecosystem.
Is APE Going To Skyrocket In 2022?
Invest in APE now and generate profitable returns over the long run.
The team behind ApeCoin is attempting to build an ecosystem around the token. The coin is used by several services, like The MonkeyFirm NFT platform, a decentralized exchange, and play-to-earn gaming projects. Since ApeCoin is a product launched by ApeCoin DAO, each token holder in the ecosystem has a say in the organization’s development.
Moreover, the significant growth of APE token prices has been predominantly driven by BAYC’s popularity. The crypto has also seen strong demand from APE investors solidifying ApeCoin’s position as a top altcoin in the market. Additionally, the token also benefits from the positive sentiment surrounding Yuga Lab’s acquisition of Meebits and CryptoPunks IP.
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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Factors That Help ApeCoin Surge To New Heights
The rising demand for ApeCoin will eventually push the price of APE to skyrocket this year.
Several factors drive the price of APE to explode in 2022. Some of them are:
The Popularity Of Bored Ape Yacht Club
ApeCoin is linked to the popular Bored Ape Yacht Club NFT collection, which features digital art, picture, audio, and video files tokenized and secured on blockchain technology. The concept got more extensive and gained immense popularity when celebrities like Jimmy Fallon, Justin Bieber, and Paris Hilton purchased the Bored Ape NFTs for large sums of money, in 2021. NFTs are arguably one of the booming sectors in the market today, and Bored Apes and BAYC products have a long way to go. This will eventually push the demand and value of APE, as the token serves as its governance and utility token.
ApeCoin Solves The Issue Of High Gas Fees
A crucial issue that DAOs currently face is high gas fees. Unfortunately, this would also highly hinder community participation. While ApeCoin offers a transparent and feasible fee-less structure that allows the community to conduct weekly votes versus monthly or bi-annually. This way ApeCoin significantly solves the issues of higher gas fees, driving its demand higher.
Why ApeCoin Will Skyrocket: Expert Predictions
Thanks to the APE’s growth, ApeCoin is gaining significant ground in the crypto market.
Digital Coin:
“We are positive about ApeCoin price prediction and expect APE to average $19.13 this year and $21.75 in 2023, based on historical data. The price could then rise to an average of $29.26 in 2025 and $68.30 by 2030.”
Gov Capital:
“Our APE prediction expects the price to gradually trend higher to $15.302 by the end of 2022 and $20.109 by the end of 2023. Based on deep learning technical analysis, ApeCoin could trade up to $27.624 by the end of 2025 and $36.796 by March 2027.”
Read Also: ApeCoin (APE) Price Prediction
Should You Invest In APE Right Now?
With such incredible gains in just a couple of weeks, ApeCoin has gained huge attention from investors. ApeCoin is a cryptocurrency that is designed to promote the growth of the Web 3.0 economy. APE is a community-controlled and built-on token aimed to promote culture, games, and commerce. The token will be used for metaverse purchases, sales, and self-employment and will be embedded in all the upcoming metaverse societies.
Moreover, ApeCoin would be used to empower a decentralized community at the vanguard of Web3 development. Given BAYC’s popularity and its strong demand from investors like athletes and celebrities, it is plausible to expect that investor demand for APE will increase, pushing its price to new highs.
The Bottomline
The ApeCoin project exposes how developers continue to move towards decentralization. So is APE all set to rise in value in 2022? The potential for ApeCoin will depend on its continued adoption in the cryptocurrency community. Considering the popularity of BAYC and development plans in process for APE, the ApeCoin crypto could likely explode in the coming years.
However, whether ApeCoin is a suitable investment will depend on your risk tolerance and investment strategy.
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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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