ApeCoin (APE) is a cryptocurrency launched in 2022 and operates on the Ethereum platform. ApeCoin has a current supply of 1,000,000,000 with 277,500,000 in circulation. The last known price of ApeCoin is 6.97264238 USD and is up 596.99 over the last 24 hours.
ApeCoin is an ERC-20 governance and utility token used within the APE Ecosystem to empower and incentivize a decentralized community building at the forefront of web3.
ApeCoin holders govern themselves via the decentralized governance framework controlling the ApeCoin DAO, and vote on how the ApeCoin DAO Ecosystem Fund should be used. The APE Foundation administers proposals agreed upon by ApeCoin holders.
The APEcoin token is a linked to popular NFT collection -- Bored Ape Yacht Club. With its airdropped token to NFT holders, prices were seen dropping dramatically at the beginning. Many NFTs holder has converted earning from the token to FIAT. This movement has cause Bored Ape Yacht Club to be trending in Google and making it an valuable NFT for collectors and investors alike.
Volatility is not abnormal for airdropped token in crypto spaces. Investors remain bullish on BAYC and token alike. The functionality of APEcoin will give user access to merchandise , events and services within the BAYC community. Embrace WEB3 and invest in APEcoin spot trading pairs here with BingX crypto platform.
Apecoin Community has voted on whether to keep the APE Token within the Ethereum ecosystem. The outcome of this vote will help determine the future of Apecoin as a project and whether it should migrate to another blockchain or stay in Ethereum.
Apecoin is currently ranked as the 7th largest digital currency by market cap, valued at $209 million. The project's native APE token had lost over 77 percent of its value since April 2019, when it peaked at $26.70 per token.
Apecoin Community Vote: Keep APE Token within Ethereum Ecosystem?
The recent hack that hit Apecoin's Discord channel has resulted in another major problem for the community: many members had left the platform, leaving behind only around 1,500 users now compared to 8,000 users before the incident occurred.
There are two main camps in this debate — those who want to move away from Ethereum and those who want to stay put. The former group believes that moving to another blockchain will benefit Apecoin due to lower transaction fees and faster transaction times. The latter camp argues that moving away from Ethereum could be costly and risky, with unfathomable complexities involved in migrating over.
Some people even suggest using Arbitrum One, Optimism, and Zksync, while others wanted Apecoin to migrate to a chain such as Avalanche.
Voting ends on June 8th. However, currently, voting suggests that 99% of voters want the coin to remain within the ETH chain. This is great news for everyone who has invested in Apecoin, and we wish to thank everyone who took part in this vital decision.
They've decided not to move forward with plans to move Apecoins onto a new chain. We believe that it would cause unnecessary disruption for all involved and be detrimental to our community.
Hopefully, developers will continue to work towards becoming a fully autonomous blockchain, but this will require further research and development before it's ready for deployment.
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