Apecoin Price Prediction 2023, 2025, and 2030
Apecoin Price Prediction 2022: The aggregate Apecoin Price Prediction 2022 is $7.06.
Ape coin Price Prediction 2023: For the end of 2023, Apecoin is predicted to reach $16.38 provided the price of Apecoin rises 50% annually.
Will Apecoin Go Up? Yes, Apecoin is likely to recover in the future. Read on for More Information.
The current price of Apecoin is:
Apecoin Price Performance in 2022
- Last 1 Month: -28.8%
- Last 3 Months: -38.5%
- YTD: -61.3%
What is Apecoin?
ApeCoin is a Bored Ape Yacht Club-affiliated cryptocurrency based upon the ERC-20 blockchain. Apecoin brings a much-awaited governance aspect to the APE ecosystem. Amongst other things, ApeCoin represents a governance token (in other words, voting rights), giving ApeCoin holders a say in the project’s development and important decisions.
As a way to show gratitude to its current community, ApeCoin decided to dedicate a portion of its reserve to Bored Apes or Mutant Apes NFT holders, rewarding them with free airdrops. The amount of the airdrop depended on the NFT’s rarity as well as the number of NFTs held by the person.
Here are some facts about Apecoin:
- Ape Foundation launched the ape coin. Ape Foundation claims that Ape Coin will be driven by the community with the role of the Foundation as a steward and not an overseer. The Apecoin DAO will govern the community
- Apecoin like many other cryptocurrencies is an ERC-20 token issued on the Ethereum Blockchain
- About 15% of circulating Ape Coins have been airdropped to current BAYC and MAYC NFT Holders
- Apecoin is likely to be used as a Play to earn currency in the future. It is expected that as Yuga Labs strengthen its position in the Metaverse space, Apecoin will see a rise in demand for its cryptocurrencies
- Apecoin is currently ranked 35th on Market Cap with nearly 300 Million in circulation
- Apecoin reached its All-Time High of $39 in the last week of April and reached its lowest point in the year on June 19th, 2022. Apecoin rose 40% from its bottom within a week
- It is also possible to earn interest by staking Ape
Is Apecoin a Good Investment?
Apecoin’s all-time high price was $40 which it was able to touch within a few months of its launch. Before we talk about the investment options for Apecoin, let us discuss the uses of Apecoin:
Uses of Apecoin
- APECOIN is a utility token that can be used to purchase game products developed by the BAYC community.
- It works as third-party developers in the ecosystem by integrating APEs into games, projects, and other services.
- APE is adopted as an incentive for players in Benji Bananas, a play-to-earn mobile game developed by Animoca Brands. Benji Bananas offers a Membership Pass (‘Benji Pass’), an NFT that enables its owners to earn special tokens while playing Benji Bananas and will also allow those tokens to be swapped for Apecoin.
What are the Advantages of Using Apecoin?
- BAYC (the most expensive collection of NFTs) is behind APECOIN. Therefore, this coin has a good reputation from others because of the endorsement.
- A major competitive advantage of Apcoin is its association with Yuga Labs, arguably the most influential presence in the NFT space. As a result, Apecoin benefits from all the social capital associated with Bored Ape Yacht Club and all other projects in the Yuga Labs ecosystem.
- In addition to NFT rewards, APECOIN allows payment options and other exclusive features within the APE ecosystem.
- APECOIN has been in the limelight since its appearance. The creators offered many incentives to increase their usefulness.
Considering the above factors, Apecoin can be considered a good investment but considering the current performance of Apecoin, it may not be able to yield many benefits to the investors in the short-run.
Will ApeCoin go up or Will Apecoin Recover?
The crypto market has been highly volatile this year and considering the market condition the overall crypto market is predicted to remain lower this year. As for Apecoin, it may follow the market trend for the next few months. However, in the future, there are higher chances for Apecoin to recover. Therefore we predict Apecoin will go up. Here are the reasons behind it:
- Apecoin is backed by BAYC which is the most expensive collection of NFTs.
- Apecoin also has a competitive advantage with its association with Yuga Labs. As Yuga Labs increases its presence in the Metaverse space (with investments lined up and some executions having begun), the demand for Ape Coins will increase fuelling the price of the cryptocurrency.
- Adoption of Apecoin as a payment method will help Apecoin to rise higher. Gucci is the first major brand to accept Ape coin as payment.
- Apecoin has a proven track record. It almost reached $40 a few months back. Therefore, when cryptocurrencies recover, Ape Coin will benefit much more than others
Risks: Cryptocurrency falls again due to Economic Slowdown/ Recession. There is a moderate possibility at this point in time. The Cryptocurrency market is also exposed to systemic risk like other cryptocurrencies or companies in this sector failing. Lastly, delays in execution by Yuga Labs could lead to lower demand for Ape Coins impacting its price in the short term if not in the medium and long term.
Why is Apecoin dropping or Will Apecoin Go Down?
The price of Apecoin has dropped recently. The various reasons behind the decrease in its price can include Consumer Price Index and SEC’s investigation into Yuga Labs. Let us try to explore various reasons for its decreased price.
Apecoin Price has fallen from over $4 to below $3 in the 7 days.
Image: Last 7 Days Graph for APE: Source: Coinmarketcap
Consumer price index:
The latest Consumer Price Index number (as of September 2022) in the United States is 296.76. The value was 280.13 at the start of 2022 and it is constantly increasing over the past three months (as depicted by the graph below). The CPI value has been changed by 0.39% from August 2022 and 8.225 from 1 year ago (September 2021), which shows that there is an increase in inflation in the USA.
The increase in CPI can also be one of the reasons contributing towards the falling price of ApeCoin. Let us understand why. The consumer price Index measures the degree of inflation in any economy. An increase in CPI means inflation is rising i.e., the price for essential goods is increasing. Ultimately, it results in a reduction in demand for non-essential services (or the services and products which are not the basic necessities for life, such as gaming). It is understood that gaming is a non-essential part and will be most likely to affect in case of inflation. This can eventually affect the price of gaming-based cryptocurrencies such as ApeCoin.
SEC’s investigating Yuga Labs
Yuga Labs is the company behind the Bored Ape Yacht Club and the SEC’s investigation over Yuga Lab’s NFT collection can be another reason for the decreased price of ApeCoin. It is because the popularity of Bored Ape Yacht Club was one of the crucial factors behind investors’ interest in APE. BAYC has popularized ape-based art and hence the Apecoin.
Last month, SEC was investigating Yuga Labs NFTs and Apecoin to find their similarity to stocks. Although Yuga Labs neither created Apecoin nor was found guilty of any wrongdoing, it can be indeed a reason why investors are not willing to purchase Apecoin currently.
Fed rate prediction
Federal funds rates are a major contributing factor to the growth of an economy. Thus, they can also affect the prices of cryptocurrency in a certain way.
According to the latest press release, there can be another hike in the de rates. Although the final decision will be made on December 14th, there are a lot of data that favours the hike in fed funds rates. Let’s explore.
Let’s first discuss November’s inflation data of the U.S. According to the forecast, inflation will continue to rise, which can result in a 75-basis point hike in the fed rate. Another factor is the job market i.e., the employment situation in the country.
Recent reports say that in October 2022, U.S. employers hired more employees than required and the job market is stronger in 2022 than expected. According to the news release by BLS, the total non-farm payroll employment increased by 261k in the month of October. Note that for the purpose of squeezing liquidity, U.S Fed aims to maintain a 7.5% unemployment rate and currently it is 3.7%. It means that there are the highest chances of a hike in fed rates.
How is the increase in fed funds rates going to affect ApeCoin?
The increase in the interest rates by Federal Reserve can certainly result in cutting the spending by investors.
High inflation and thus, high fed rates can impact people to don’t risk their money in gaming and thus in Apecoin. An increase in the fed rate can lead investors to go for other investments, such as Banks, brokerage firms, and cash-rich companies, instead of speculative investments (like cryptocurrencies), such as Apecoin.
In case, more people cut back and sell their ApeCoin in this scenario, the prices of the crypto will continue to remain low.
ApeCoin Price Prediction 2022, 2023, 2025, 2030
Apecoin Price Prediction 2022
The aggregate Apecoin Price Prediction 2022 is $7.06. Additionally, if Apecoin gains 30% a month for the next two months, then Ape Coin Price Prediction 2022 is $8.19.
Apecoin Price Prediction 2023
For the end of 2023, Apecoin is predicted to reach $16.38 provided the price of Apecoin rises 50% annually.
Apecoin Price Prediction 2025
For the end of 2025, the aggregate Apecoin PricePrediction is $22.3. Using the mathematical calculation, if APE gains 30% annually then by the2025 end Apecoin Price could be $18.
Apecoin Price Prediction 2030
The aggregate APE Coin Price Prediction 2030 is $111.
Apecoin Price Prediction Today
|Overall Outlook||Partially Negative|
|1. Market's Wisdom||Neutral|
|1a. Market Data||Partially Negative|
|1b. Technical Recommendation||Buy|
|2. Crowd's Wisdom||Partially Negative|
|2a. Social Media Buzz||Neutral|
|2b. Social Media Sentiment||Lower|
How to Buy Apecoin?
The ERC-20 token, the native token of Bored Ape Yacht Club, Apecoin has been one of the best-performing cryptocurrencies this year. However, there have been many inquiries about how Apecoin can be purchased. Here is a complete guide to buying Apecoin:
- Look for the Exchanges where Apecoin is listed for Trade
With the craze of cryptocurrency, the exchanges offering cryptocurrencies for trade have multiplied. However, every exchange has a limited number of cryptos listed on its platform for trade. Therefore, before investing the first task will be to list the number of exchanges offering Apecoin for trade. Once you have listed the exchanges, the second task will be to choose the right exchange. Every exchange has its own transaction fee, therefore, it will be advisable to study it before zeroing on one exchange.
- Opening Account with the Exchange
Once you have decided which exchange to go with for trading, the second step will be to open an account with the exchange. As crypto trading involves finances, you will be required to provide your ID proof for verification purposes. Also, you will have to add a bank account or any mode of payment in order to have your account activated. Once done it will depend upon the exchange to activate your account. The exchange verifies your details if everything matches your account will be activated.
- Adding Money for Trade
Once your account is verified and the bank account or any other mode of payment is linked with the exchange, the next step is to fund your account. The user will have to add money before making any trade. The direct fiat to crypto trade may not be possible therefore, the money is added to the exchange’s wallet and then you will be able to make the purchases.
- Purchase APEcoin
After adding the money to the wallet, you will have to purchase Apecoin from the exchange. As every exchange has multiple cryptos listed, you will have to search for APE or Apecoin and then click on Trade. Once done you can specify the quantity or the number of Apecoins you want to purchase. After this, you can simply Click Buy and you will have your first Apecoin trade completed.
- Storing of Apecoin
Once the purchase is done, the next step is to store the Apecoin. Storing depends on the user itself. A user can store the Apecoins purchased in the wallets of the exchange or for security purposes, they can transfer the purchased quantity to a secured external wallet.
Where to Buy Apecoin?
Apecoin is one of the fastest-growing cryptocurrencies and multiple platforms have listed Apecoin for trade. Some of the exchanges where you can purchase Apecoin are:
Crypto.com: Crypto.com is one of the most popular crypto exchanges with Cronos as its native coin. The platform allows a $50,000 deposit per day through US Bank checking account. The preference of this method is advisable as the exchange does not charge any deposit fees when opting for this payment method. The exchange fee of Crypto.com is 0.4% per slide.
You can have a much lower exchange fee if you consider trading in CRONOS, the native token of crypto.com.
Binance: Binance is one of the most famous crypto exchanges and it has a large number of cryptos listed in it. The best part of the Binance exchange is that it allows you to trade not different currencies and not just USD. In Binance, Apecoin is traded with Bitcoin and BUSD.
Binance has a much lesser exchange fee as compared to crypto.com. The exchange fee of Binance per slide is $0.10. But this fee is applicable only if Apecoin is traded against the Bitcoin pair.
If you choose to buy ApeCoin instantly at Binance with your debit or credit card, a higher exchange fee, as well as a deposit fee, is charged. The exchange fee per slide is 4.5% and the commission is 0.5%.
Binance has slightly different steps to be followed to purchase Apecoin. Here are the steps to be followed to purchase or trade Apecoin on Binance:
- Create a free account on the Binance website or the app: You can create a free Binance account by three steps:
- Register via the Binance App
- Register via the website using your email
- Register via the website using your mobile number
- Choose how you want to buy the ApeCoin (APE) asset: The mode of payment on Binance are:
- Credit/Debit Card
- Bank Deposit
- P2P Trading
- Third-Party Payment
Binance allows you to buy crypto at the selected price for 1 minute after that the price is refreshed to the spot price.
- Store or use your ApeCoin (APE) in Binance: The last step is to store your purchased Apecoin or to use it as a crypto pair to purchase other cryptos if available.
Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Index or Individual Stocks. Please consult a registered investment advisor to guide you on your financial decisions.