Basic crypto slang: how not to get lost in it

In the short term, there is likely to be extremely high volatility due to speculation that Yuga Lab’s “Otherside” virtual land sale will be priced in APE. As a result, a prudent investor may wait for ApeCoin to stabilize before entering if high volatility persists. Nonetheless, the demand for APE may increase among investors due to the popularity and high demand of BAYC among price-insensitive investors like athletes and celebrities. Investing in ApeCoin could be profitable if you believe in the future success of the BAYC ecosystem and Yuga Labs compared to competitors. “Degen” is a crypto slang term derived from “degenerate.” https://www.xcritical.com/ It refers to a crypto trader indulging in high-risk investments in the cryptocurrency market.

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Consult with a qualified professional before making any financial decisions. This article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies nor can the accuracy or timeliness of the information be guaranteed. Creators have been known what is apecoin to “rug-pull,” abandoning a venture and absconding with collectors’ money. Artamonovskaja, the founder of Electric Artefacts, speculated that Bored Ape Yacht Club caught on because of its relative accessibility.

The connection between Apeing and FOMO

Bryan indulges in every bit of crypto-related newsand material he can lay his hands on. As such, heoften shares his views and advice through the onXRP content platform. He is a firm believer in crypto’spotential in the financial and economic world.

What is a “Bored Ape Yacht Club NFT”?

The term gained popularity during the 2020 DeFi Summer craze when DeFi projects launched one after another. A percentage of investors quickly realized substantial gains from investing in these projects shortly after they launched. Their success spread to social media platforms, where other investors aped their approach. By the time Gargamel and Goner began brainstorming an N.F.T. project, early this year, avatar clubs were a nascent trend. Gargamel and Goner were familiar with CryptoPunks, a batch of ten thousand pixelated figures, which became the blue-chip art of the N.F.T. market after their release, by a company called LarvaLabs, in 2017.

Alternative Ways To Buy ApeCoin

The NFT market is evolving rapidly, and the Bored Ape Yacht Club is no exception. Currently, the floor price of the Bored Ape Yacht Club may be down, but analysts stress the importance of understanding the value of specific NFTs within the collection. Factors such as floor price and the price of Ethereum are crucial in determining NFT value. At the time of writing, APE is trading for around $14.58, with a market capitalization of over $480 million.

A non-fungible ape on the blockchain

Hence, trading on a decentralized exchange (where you control the custody of your assets) is typically considered the safer option. Having said that, DEXs are unregulated, and there is no customer protection if funds are lost due to hacks. Decentralized exchanges are smart contract-powered online trading platforms that enable users to trade crypto on a peer-to-peer basis without the need for a central authority. To purchase APE coins on a P2P exchange, you first need to choose a marketplace that supports ApeCoin, sign up for the platform, and complete the verification process. Next, scroll through the available offers to buy ApeCoin for a payment method that works for you.

How a spur-of-the-moment trip made GV the lead investor in Cribl’s summer Series E

For instance, investors can lose funds in DeFi scams, such as rug pulls and pump-and-dump schemes, by investing in projects without doing extensive research. Vaporware is a term used in the crypto world to refer to a product that has been promised but has yet to be delivered. The term is derived from the idea of a product “vaporizing” into thin air, never to be seen again. It is used to describe projects that have been hyped up, but that have no real development or progress.

APE holders can vote on proposals or craft and introduce proposals to take actions that include allocating community treasury funds, making license exemptions, and promoting protocol development and adoption. According to the laws and regulations for the cryptocurrency industry, we can no longer provide any trading service in your region. Easy Crypto wants to make it easy for anyone to get into the crypto market – no matter how much they have to invest. There is no way to predict the future, but if they truly envision the future of culture, art, and entertainment, then ApeCoin should be something you might want to keep on your radar.

Those with weak hands usually lack conviction in their strategies and are easily spooked by negative news or price action of an asset. Yuga Labs owns the NFT collections CryptoPunks and Bored Ape Yacht Club, which are among the most well-known brands in the NFT market. Anyone who owned an NFT from Bored Ape Yacht Club collections at the launch date of ApeCoin received a predefined amount of ApeCoin for free. Something about Yuga Labs’ great influence in the cryptocurrency market is the fact that ApeCoin was simultaneously listed on every major cryptocurrency trading service in the world upon its launch. The token enables access to parts of the ecosystem which are otherwise unavailable.

The coin is governed by the ApeCoin DAO, of which all token holders are eligible to become members. The ApeCoin DAO makes decisions on matters such as governance rules, partnerships, projects, Ecosystem Fund allocations, and more. Down bad is a slang term used to describe someone who has lost a lot of money on the crypto market. Down bad can also be used to describe someone who has invested too much in one particular asset or currency and taken a significant loss. In some cases, this can be seen as a sign of inexperience or lack of understanding when it comes to the crypto market.This article is not an investment recommendation. The financial and other transactions mentioned in the article are not a guide to action.

• After an initial surge in value, the token has experienced a drop in price, leaving many investors wondering if APE will rebound anytime soon.
• The NFT market is evolving rapidly, and the Bored Ape Yacht Club is no exception.
• CryptoPunks is one of the earliest NFT projects and was among the most valued NFT collections on the NFT marketplace OpenSea.
• APE was announced on Mar. 17, 2022, with approximately 13.3% of the tokens in the initial circulating supply.
• Tap is pair agnostic, meaning you can trade any asset for any other asset without having to worries if a “trading pair” is available.

For example, BAYC co-founder Wylie Aronow stated that the goal is to create an interoperable word that is decentralized and gamified. However, ApeCoin has to compete with The Sandbox –– a gamified metaverse project that has already issued its second Alpha Pass, conducted virtual land sales and possesses partnerships with The Walking Dead, Adidas and Atari. Before you rush into buying ApeCoin, it’s vital to understand its unique features, potential risks and long-term prospects.

Interestingly, Yuga Labs claims zero responsibility for ApeCoin; however, the company is more than happy to take a significant portion of the profits. Since ApeCoin is coming from just ApeCoin DAO and not Yuga Labs, Yuga Labs can benefit from an independent entity allocating tokens to them as opposed to Yuga Labs pumping their own investments. Unlike pump-and-dump schemes, which entail manipulating the price of an asset, rug pulls are about removing the liquidity of a coin on an exchange making it impossible to sell. If you ever come across copy-pasted messages on crypto social media or discussion groups trying to shill a new super asset and generate hype, just go the opposite direction – it’s most probably a pump-and-dump game. FUD is one of the drivers that keep the crypto Twitter and crypto Reddit running. Or, actually, three of them but all mergeable into one neurotic state of mind.

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DEX-es only enable exchanging cryptocurrencies or tokens for other cryptocurrencies or tokens. A DAO means a decentralized autonomous organization, a type of bottom-up management structure based on the blockchain technology. You can think of it as a digital democracy, where power is shared among the people. Centralized platforms offer users support and a better UX, but they’re more susceptible to cyber attacks and charge higher transaction fees.

Used to describe a cryptocurrency that is projected as having a strong upward market trend; when a cryptocurrency is mooning, it means its price is skyrocketing so high that it’s figuratively going to the moon. This event can be used by investors attempting to determine the best time to sell their cryptocurrency in order to get the best possible price for it. At present, ApeCoin is ranked 125th in cryptocurrencies by market capitalization. This significant growth was predominantly driven by speculation that the “Otherside” metaverse land sale would be conducted in APE. The Otherside, created by Yuga Labs, is a new NFT metaverse project that launched on the 30th of April at a mint price of 305 APE. Since the establishment of the ApeCoin DAO in April 2021, APE has seen its fair share of price fluctuations.

In January, Bored Ape #232 sold for 1,080.69 tokens of the Ether cryptocurrency, or about $2.85 million at the time. From the original collection, Yuga Labs has built upon the popularity of Bored Ape Yacht Club with a newer series launched last August called Mutant Ape Yacht Club. Yuga Labs, the creators of the popular NFT collection Bored Ape Yacht Club (BAYC), adopted ApeCoin as the main token underpinning products and services. The company also owns the intellectual property rights of two popular NFT projects, CryptoPunks and Meebits.