APEFundamental Analysis of ApeCoin (APE)

new

In less than two years after ApeCoin (APE) reached all-time highs, the coin has suffered a steep decline. In March 2022, the APE index raised eyebrows by hitting an all-time high and falling 97% in a single day. Since then, the token has struggled to replicate its good market performance. Let's explore together the basics of this token that at one time caused a great frenzy in the cryptocurrency market. 

ApeCoin (APE) is the native token of the APE ecosystem. As an ERC-20 token, APE relies on a proof-of-stake consensus mechanism for security. Initially, the token was designed to empower and catalyze the APE ecosystem that is keen on becoming a force to reckon with in the web3 space. However, the popularity of the token has seen its use gradually spread beyond the ape ecosystem. 

Team members and background

Furthermore, ApeCoin is issued by the ApeCoin DAO (Decentralized Autonomous Organization) which is the legal representative of the project. All APE holders are members of the DAO and reserve the right to vote on issues related to the ecosystem. Some of these issues are upgrading the system, allocating funds, partnerships, and forming new policies. #APE✅ #Binance #Web3