There are more players involved in the cryptocurrency marketplace than ever before. Those who manage to find something that makes them unique and valuable are tougher than ever before, too. Some tokens, like ApeCoin’s $APE, have experts wondering what the future holds.
In order to create a more realistic ApeCoin price prediction, it helps to know more about what ApeCoin is all about. Read on to find out more about what ApeCoin is, what it has to offer, and how experts feel about the future of this token.
ApeCoin 2030 Price Prediction
The cryptocurrency marketplace is a tough one to nail down. Other than the biggest names in the market – Bitcoin, Ethereum, etc. – it is harder to predict where a particular token will wind up next month, let alone next year.
An important barometer for the growth of a token is where it will be in five years. For that reason, speculators look ahead to 2030 to determine the health of a token. What will the ApeCoin price look like when 2030 comes into clear focus?
Trading at about $0.38 per token now, it is expected to undertake massive growth by 2030. Experts see it trading in the $5.55-$6.60 range to begin the year. It will steadily tick upward, topping out in the $7.75-$9.15 range by the end of the year. That would mark an incredible 2,400% growth on Apecoin’s current price.
What is ApeCoin?
ApeCoin is the utility token of the Bored Ape Yacht Club (BAYC) ecosystem. It also acts as a governance token for the ApeCoinDAO. ApeCoin was introduced by Yugalabs in order to make the BAYC ecosystem more decentralised while also creating a stronger financial foothold.
The token was designed to provide advantages and privileges for holders within the Bored Ape ecosystem. Its biggest use right now is as a store of value but it does offer governance within the BAYC network and as a reward on specific decentralised gaming applications.
How Does ApeCoin Work?
At its core, ApeCoin is an ERC-20 standard-issued token on Ethereum’s blockchain. ERC-20 is one of the most popular smart contract standards, which means that holders of ApeCoin are able to buy, sell, and transfer their assets easily on both centralised and decentralised exchanges wherever ApeCoin is listed.
Holders of ApeCoin also are able to access the network’s DAO voting mechanism, which is part of one of the inherent smart contract functions on the platform. Holders of the token are able to participate in network governance on important proposals.
The APE Ecosystem
There are a few key components to the overall APE ecosystem. ApeCoin holders are only part of the system, which also offers metaverses and NFT collections.
Bored Ape Yacht Club (BAYC)
The earliest part of the APE ecosystem is the BAYC NFTs. This is a collection of more than 10,000 different, unique images – all of which are ‘bored’ apes. The art within is meant to depict a certain level of fatigue, disinterest, or boredom, and every one of the NFTs is unique. This collection has even garnered mainstream attention, both within the crypto space and outside of it.
Mutant Ape Yacht Club (MAYC)
These are a variant of the aforementioned BAYC collection. Yugalabs released 20,000 MAYC NFT collectibles in addition to the BAYC collectibles. Half of these were sold at public auctions, with the rest created for BAYC holders. Through the airdropped “mutant serum”, holders of Bored Apes saw new attributes added.
ApeCoin
Think of ApeCoin as the financial arm of the APE ecosystem. This team has utilised ApeCoin for things like fundraisers while also reserving some tokens for potential developments as a part of the greater APE ecosystem. ApeCoin also has staking pools, which hold different NFTs and offer a 162.59% APY over time. It has also been announced that ApeCoin will be the primary currency for the Otherside metaverse.
Bored Ape Kennel Club (BAKC)
Bored Ape Kennel Club is a 10,000-collectible issued by BAKC based on dogs. These NFTs were made available to holders of the BAYC NFTs, and there is no external minting programme available. Each dog has its own unique traits and was only available to be “adopted” within the first week of the launch. It is estimated that roughly 400 holders didn’t claim their NFTs, lowering the total supply.
Governance is a Focal Point
Though we are learning more and more about the potential of ApeCoin and its use cases, the biggest benefit to owning it – aside from intrinsic value – is the ability to participate in governance of the ApeCoin network.
It is the official governance token for ApeCoinDAO, a system that creates an impartial management strategy for all endeavours on the ApeCoin platform. ApeCoin holders are able to not only vote on but also create improvement proposals for any and all issues related to ecosystem brand decisions, guidelines, procedures, fund allocation, changes to tools, and changes to any decision-making processes.
Governance of the platform is entirely driven by the community, and any suggestions that do pass the community voting stage can be implemented so long as they are feasible. It really puts the power in the hands of community members and token holders.
The Future of ApeCoin
When it launched, Yugalabs announced that it had comprehensive plans for the growth of ApeCoin, particularly as a utility and governance token. The community is quite active as well, with more than 6,500 ApeCoinDAO members voting on proposals for things like ecosystem activity and financial systems development.
The plan is also to branch out into other NFT projects and the GameFi space, lending to the potential of ApeCoin. Bringing on Amonicabrands, a popular gaming firm, is a major move that will only bolster attention paid to ApeCoin. What that means for ApeCoin’s price in the future remains to be seen, but it is a promising venture.
