We have just added APEUSD to our listing. ApeCoin is a new token launched on March 16 on the wave of NFT Bored Ape Yacht Club collection popularity.
The images of apes have been extremely popular recently. The company behind the project Yuga Labs, which owns intellectual rights to the apes series is also involved in ApeCoin, but through ApeCoin DAO (decentralized autonomous organization). The messaging behind the new ERC-20 (Ethereum) based token is to drive culture forward into the metaverse”.
On the first trading day ApeCoin’s price went up from $1 to $28, but then fell and has been trading between $10 and $15 since then. With a market cap of over $3.4bn, ApeCoin is already top 50 cryptos.
ApeCoin is yet another crypto that would benefit strongly from Web3 going mainstream.
If you believe in Yuga Labs, which has recently completed a $450 million funding round led by Andersen Horowitz (a16z) and is valued at $4bn, APE is a great long-term investment. If you want to speculate, buy or short the coin according to your gut feeling and the news.