ApeCoin is still a novelty in the cryptocurrency arena. After all, it came into being only in March 2022. It is affiliated to the Bored Ape Yacht Club. Then again, Yuga Labs might opt to use it for a new metaverse ecosystem. The company hopes that ApeCoin will draw the crowds!
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There are three major reasons that ApeCoin will prove to be a safe investment.
ApeCoin has a Connection with the Prestigious BAYC’s NFTs
BAYC is a prestigious club. It has a series of NFTs to offer. There is a link between this series and ApeCoin. This aspect has helped the coin/token to gain tremendous prestige, in its turn.
Another elite club is the Mutant Ape Yacht club. In fact, both these NFTs clubs are two amongst the most reputed clubs in the world. Therefore, the NFTs possess much more value than the ordinary group of NFTs found in a typical crypto marketplace, do.
The world’s interest in BAYC is growing. ApeCoin has a close connection with it. Therefore, the value of ApeCoin is bound to rise. At the same time, the affiliation between both, is not the only reason that you should invest in ApeCoin. Note that BAYC and the ApeCoin are interdependent. When there is an enhancement of ApeCoin’s value, there is an equivalent rise in the sales graph of BAYC’s NFTs.
Despite ApeCoin entering the crypto world so recently, it has managed to fascinate celebrities. Several of them have bought BAYC’s NFTs. They are confident that its value will increase in the future.
ApeCoin is on the Lists of Several Cryptocurrency Exchanges
There is a significance attached to the listing on a cryptocurrency exchange. It should be at a prominent location. Then, both, old, and new, investors will be attracted to it.
In general, new coins find themselves attached to lesser-known/tiny exchanges. Sometimes, fraudulent coins also make their way there. Furthermore, the exchanges themselves, seem to exhibit shaky origins. Therefore, big-time investors strive to avoid dealing with emerging/new digital currencies.
However, ApeCoin seems to be lucky! It has found its way to listings on globally popular cryptocurrency exchanges. Some of them are Binance, Coinbase, and eToro. In fact, they came forward instantly, when ApeCoin was still new. This way, the coin reached the public, immediately.
The ensuing publicity sufficed to help ApeCoin climb to the top, easily. Even its pricing reflected its popularity. The crypto arena was facing adverse conditions during the months of March and April, 2022. Yet, ApeCoin performed excellently, in comparison to other cryptocurrencies. Thus, you are bound to gain benefits by investing in it.
Experts believe that certain digital currencies might benefit from fresh investments. This should take place, regardless of marketplace trends. Then again, ApeCoin had reached a pricing of $26 recently.
ApeCoin is Part of the Ethereum Family
Ethereum has been here for a long time. It is considered the silver to Bitcoin’s gold status. Even the blockchain’s rivals keep a close watch on its activities. They also strive to come up with alternates for the Ethereum blockchain. They strive to attract investors by promising superior metrics. These metrics include, lowered expenses, scalability, great security, etc.
Nonetheless, nothing seems to make a dent in the Ethereum network’s popularity. Its developers continue to come up with novel ideas for expanding the ecosystem. One idea has been to have Ethereum-based tokens in place. ApeCoin is one such token. This is an advantage over the tokens produced by Ethereum’s competitors.
ApeCoin operates on the Ethereum blockchain. Therefore, it has the advantage of its liquidity. Trading of digital currencies occurs on both, centralized, and decentralized (DeFi), crypto exchanges. The former is traditional. The latter is new, and more in number. Some of the decentralized exchanges are Sushi Swap, Uniswap, etc. ApeCoin, which is an ERC-20 token, benefits from operating on the Ethereum platform.
The Ethereum blockchain offers many Stablecoins. ApeCoin is tradeable for every digital currency. After all, many well-known coins on DeFi, are available on the Ethereum network, too. Thus, if you invest in ApeCoin, you have a chance to make multiple investments. In turn, you gain heavily in passive income.