How to Buy ApeCoin (APE) at Best Rate using RocketX Exchange
28 March 2022: In the last three trading days, the price of ApeCoin has increased by 20%. ApeCoin’s market capitalization has increased by more than 6.5% & trading volume by over 18% in the last 24 hours, bringing the total worth to $4.1 billion.
Apecoin’s surge has been one of the biggest cryptocurrency fairy tales of 2022, despite the fact that it was only founded this month. From the day it was released, the cryptocurrency has climbed the rankings to become the 41st largest cryptocurrency, with a market share of 0.19 percent.
What is ApeCoin & How does APE work:
The Bored Ape Yacht Club (BAYC) is one of the most popular non-fungible token (NFT) initiatives to emerge from last year’s digital asset boom. According to data provided by NonFungible.com as of March 28, the collection of profile photographs depicting ape cartoons, is the second largest NFT project, with an all-time sales volume of $2.9 billion.
What exactly is ApeCoin? Apecoin (APE) is a new digital coin that debuted in mid-March to help the BAYC ecosystem grow. When the APE NFT coin first began trading on March 17, its price soared to $39.40, but shortly fell to $8.50, and it has since been trading in the $10 to $14 range.
ApeCoin serves as the APE ecosystem’s open-source protocol layer. It is the governance token that allows coin holders to participate in the DAO; it also functions as a decentralised currency, providing access to exclusive games, events, merchandise, and other services, as well as providing an incentive for third-party developers to start projects in the APE ecosystem.
Because there are no minting or burning capabilities, the total quantity of ApeCoin is set at one billion coins. At the time of launch, ApeCoin was distributed as follows:
- 62% — ecosystem fund
- 16% — Yuga Labs for charity
- 14% — launch contributors
- 8% — BAYC founders
Over the course of 48 months, a portion of the coin allotment to contributors will be released.
Thousands of ApeCoins have been allotted to BAYC and affiliated Mutant Ape Yacht Club (MAYC) NFT holders, who will be able to claim them for 90 days after the launch. To claim their coins, NFT holders must pay the Ethereum gas costs linked with the transaction. Holders of each NFT got the following:
- Bored Ape + Kennel Club — 10,950 coins
- Bored Ape Yacht Club — 10,094 coins
- Mutant Ape + Kennel Club — 2,898 coins
- Mutant Ape Yacht Club — 2,042 coins
Because all paired NFTs must be claimed at the same time, holders of a Bored Ape or Mutant Ape NFT who have claimed their ApeCoin (APE) are unable to obtain coins for an associated Kennel Club. So, any coins that have not been claimed will be transferred to the APE Ecosystem Fund.
Yuga Labs, the company behind the BAYC collection, gave the APE Foundation a one-of-a-kind NFT, together with full rights to the NFT and its artwork, for the DAO to determine how it should be utilised.
How to Buy ApeCoin APE:
In the first step, navigate to RocketX.exchange.
With RocketX, you get access to the world’s best liquidity available on Binance, which helps users get more tokens as well as save on the gas fees.
In the next step, click on “Connect wallet” and connect your favorite DeFi wallet.
Let’s say you want to swap USDC to APE on the Ethereum network. In this case, the source network would be Ethereum. Next, you can select the token that you want to swap which in this case would be USDC. You can now select the $APE token from the list below. Currently, ApeCoin is available on Ethereum network, hence select the destination network as Ethereum.
You can now enter the amount of USDC you want to swap to APE. The number of tokens you would be receiving will then be displayed, along with breakdown of the fee. There’s also a gas fee involved with this transaction and it will be displayed once you click on the “Swap” button.
A MetaMask notification will pop-up after you click on “swap” and the gas fee would be displayed. Once you click on confirm, the transaction would be initiated.
About RocketX Exchange:
RocketX exchange aggregates both the centralised and decentralised crypto exchanges and makes it easier for the users to find the best rates to swap tokens across different exchanges with lowest gas fee. Users can save up to 80% on the gas fees when compared to our competitors.
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Disclaimer: The article does not constitute investment advice. Please take all steps necessary to ascertain that any information and content provided is correct, updated and verified. Please do your own research before investing into/trading any cryptocurrency & consult your financial/ legal/ tax advisor(s) before making any investment.