ApeCoin continues to expand its ecosystem

ApeCoin made headlines when it released its token last month to reward Bored Ape Yacht Club members and enter the Metaverse and Web3 space.

The fifth-largest cryptocurrency in the metaverse by market capitalization, according to Coingecko, ApeCoin has huge long-term potential, as The Ape Foundation and the DAO ApeCoin lead cryptocurrency in the metaverse.

Source: Coingecko

ApeCoin News

Yesterday Bittrex announced its inclusion in its listing. Bittrex is one of the most reputable and oldest exchanges in the market, with a trading volume of over $75 million per day.

It’s no surprise that Bittrex listed ApeCoin, after major exchanges like Binance, KuCoin, Coinbase, FTX, and Gemini.

Leading online crypto-shopping platform, Shopping.io, has added ApeCoin to its list of supported cryptocurrencies, which means users can now purchase items from major online retailers like Amazon, Walmart, HomeDepot and eBay with ApeCoin and get a 2% discount.

Remember that Shopping.io integrates its payment system through Coinbase, which handles cryptocurrency payments on the site. Since ApeCoin is already listed on Coinbase, it makes sense for Shopping.io to add the token.

What is ApeCoin?

Launched on March 17, 2022, ApeCoin is a token for the Web3 economy. It is a metaverse cryptocurrency whose current primary use is governance of the APE Foundation. The Ape Foundation facilitates community governance and will shape the future of Bored Ape Yacht Club.

In addition, the DAO will allow ApeCoin holders to vote on proposals regarding the future of the project and its ecosystem: fund allocations, partnerships, governance rules, etc. Membership in the ApeCoin DAO is open to all ApeCoin holders, and it is not necessary to own an NFT to participate.

Additionally, the APE Foundation provides a special board called the board, whose purpose is to initiate proposals and serve the ApeCoin community.

The first board will serve for six months, after which DAO members will vote for new members.

Although the price of ApeCoin fell after its launch, the cryptocurrency managed to maintain a large market cap of over $3.3 billion and hold above the $10 mark, which which speaks to the huge long-term potential of the project, especially when more features become available.

ApeCoin is an ERC-20 asset built on the Ethereum blockchain. It has a total reserve of one billion tokens and a circulating reserve of 277.5 million ApeCoin. The total supply will never increase beyond one billion because the token does not exhibit an inflationary supply.

A portion of the ApeCoin tokens was locked at launch, while another portion was allocated to BAYC and MAYC NFT holders.

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