How to use Apecoin in 2022

ApeCoin was created in March 2022 to power gaming, culture and commerce. APE is the primary crypto of the Bored Ape Yacht Club ecosystem. This ERC-20 token has a market cap of $4.02 billion according to CoinMarketCap. However, only 28% of Apecoin’s 1 billion tokens are in circulation.

With a growing number of cryptocurrencies adopting staking, several exchanges have offered the opportunity to stake their currencies, including native ones. Many investment analysts believe that the value of ApeCoin will continue to increase.

In the past two weeks, APE holders have seen a 30% return on their investment. In addition, the community has expressed support for two governance proposals designed to streamline the DAO’s processes. Does APE allow investors to use their cryptocurrency for passive profit like some other coins do?

What is staking in crypto?

When you deploy crypto assets, you essentially agree to lock them in order to support the operation of a blockchain for a period of time. In return for your act of staking, foundations or communities will often reward you with more crypto.

Your crypto earns rewards while staked because the blockchain uses it to verify and secure transactions. Cryptocurrencies that allow staking use a process called Proof of Stake to ensure all transactions are verified. If you choose to stake it, your crypto will help in this process.

Participants who want the ability to verify new transactions suggest investing shares in APE as a form of insurance. Staking is used by several well-known cryptocurrencies, including Solana (SOL) and Ethereum (ETH) as part of their consensus mechanisms.

How to stake ApeCoin on Binance

Although ApeCoin Yuga Labs has not yet rolled out coin staking, you can still wager the cryptocurrency on other sites that support it. For example, Binance offers staking periods of 30, 60, or 90 days with different annual percentage returns (APYs) simply by holding APE in your account. In addition, Gemini also allows APE staking.

The Binance Earn feature allows you to stake your APE on Binance. However, the Binance Earn staking process is simple; You can choose from a variety of crypto financial solutions through the platform, move your cryptocurrency there and watch your money grow. How to stake your Apecoin on Binance via Binance Earn:

1. Register an account with Binance and verify your identity

2. From the Binance dashboard, click Earn and select Staking

3. Under your lock staking, look for APE.

4. Choose your preferred staking duration (flexible) and click subscribe

Source: Binance

APE’s recent price action reflects a slight revival in the cryptocurrency market as a whole. This news comes as ApeCoin prepares to launch a staking program. In May, APE holders voted for Horizen Labs to build its staking platform. The platform will offer token rewards to users who stake (or hold) ApeCoin, Bored Ape, and Mutant Ape NFTs.

Earlier this month, Horizen Labs gave the community a sneak peek at the staking program’s interface. The platform is expected to launch in the fall of 2022, and last week the company announced plans to host a Twitter space on September 22 to keep followers updated with the latest developments.

ApeCoin price is skyrocketing

The future of the governance and operations of ApeCoin DAO depends on the adoption of ApeCoin Improvement Proposals (AIPs), specifically AIP-98 and 113. These two proposals were put to the vote by the community. Of the five proposals, these are the two that received the most support.

AIP-98 is a proposal for a community marketplace as a logical next step for the ApeCoin DAO. If successful, it would: Promote APE usage through APE listings and bring more traffic to apecoin.com. It also lowers the fees charged to members by creating a marketplace rich in monkey-specific user experiences.

The marketplace will include all Yugaverse projects – the NFT gaming metaverse created by the creators of Bored Ape Yacht Club – reducing transaction costs for both buyers and sellers.

AIP-113 is a proposed three-month extension of the terms set by AIP-1 for the development of an effective electoral framework and process for the Ape Foundation. This would allow the DAO to function properly beyond September 30th.

As the ApeCoin community awaits the launch of their staking initiative, the NFT token has seen a surge, returning 30% profits to investors in less than 30 days.

Deploy Apecoin in 2022 2

In a two-day retest phase, the price of ApeCoin increased. As APE flips the supply zone into support, bullish momentum could propel ApeCoin higher. APE is likely to eye the $10 bullish target but needs to break through the $6.60 resistance first.

As of now, the current ApeCoin price is $5.52 per coin. ApeCoins worth $373,159,252 were traded in the last 24 hours.

Over the past day, APE is down 5.22%. In addition, it is currently the 32nd most traded cryptocurrency worldwide. With a live market cap of $1,692,701,345, there are 306,875,000 APE coins in circulation with a max supply of 1 billion.

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