Apecoin (APE) price prediction: Will the debut surge keep up?

Apecoin (APE) price prediction: Will the debut surge keep up?

Ape coin (APE), the native cryptocurrency of the popular non-fungible token (NFT) collection Bored Ape Yacht Club (BAYC), became the biggest metaverse token by market capitalisation a little over a month after its release. The coin has dethroned Decentraland’s coin (MANA), which has been around since early 2020.

Recent news that ApeCoin will implement a staking mechanism in the coming weeks as well as Elon Musk briefly changing his profile picture on Twitter to a collage of a number of avatars from the BAYC NFT collection, drove the APE NFT coin price up on 5 May as it managed to gain nearly 19% of its value in less than 24 hours.

Will the future APE coin price prediction be as bullish as its early start, and what are the key projections for the popular NFT cryptocurrency?

What is ApeCoin?

ApeCoin (APE), was launched on 17 March 2022 by the founders of the BAYC NFT collection Yuga Labs, which also formed the APE Foundation, a means of aiding the decentralised development of the APE ecosystem.

Created with the goal of becoming the “heart of art, gaming, entertainment and events on the blockchain”, the APE Foundation will be in charge of overlooking the decisions of the ApeCoin Decentralised Autonomous Organisation (DAO).

The crypto will be responsible for administration, bookkeeping, project management and other tasks necessary to ensure the DAO community can build new Web3 applications and services, such as the APE NFT coin itself.

ApeCoin’s main focus is decentralisation and through the APE Improvement Proposal Process it will allow ApeCoin DAO members to make decisions regarding Ecosystem Fund allocations, governance rules, upcoming projects, partnerships and more.

The ApeCoin Foundation is managed by a board which oversees  the community and carries out DAO proposals. The initial board serves a term of six months and is voted in by DAO members.

The current members of the board are:

  • Reddit co-founder Alexis Ohanian
  • FTX head of ventures and gaming Amy Wu
  • Sound Ventures principal Maaria Bajwa
  • Animoca Brands co-founder and chair Yat Siu
  • Horizen Labs president and general counsel Dean Steinbeck

The APE NFT coin is an ERC-20 cryptocurrency designed on the Ethereum protocol. Apart from governance, the token:

  • Provides holders with access to certain parts of the ecosystem unavailable to others, such as exclusive games, merchandise, events and services.
  • Can be incorporated into other services, games and projects.

ApeCoin was launched through an airdrop, which allowed certain groups of holders to receive the tokens as rewards. The cryptocurrency’s total supply stands at one billion. No new tokens can be minted.

Upon release, the tokens’ total supply was distributed as follows:

  • 62% was allocated to the ecosystem’s fund and given to BAYC and Mutant Ape Yacht Club (MAYC) NFT holders.
  • 16% was allocated to Yuga Labs and charity.
  • 14% was allocated to the companies and people that helped to create the project.
  • 8% was allocated to the BAYC founders.

At the time of writing (9 May), over 284 million APE coins were in circulation according to CoinMarketCap. APE’s market capitalisation surpassed $3.18bn, making it the 33rd biggest cryptocurrency.

Apecoin price analysis following successful debut

The APE NFT coin saw its value surge 126.8% on the first day of launch, reaching $16.47, up from $7.2604 in less than 24 hours, as seen on the price chart below. The coin retreated to $14. 03 by the end of the day and continued to move sideways throughout 19 March 2022 before falling to values just above $9 on 21 March 2022.

By 24 March, the APE token price climbed back to over $14 as anticipation grew ahead of the first ever ApeCoin DAO voting event, which was due to take place on the day. The cryptocurrency peaked at $15.43 on 28 March 2022 before embarking on a bearish journey into April 2022.

APE/USD price chart, March – May 2022

In April 2022, the APE token price peaked on three occasions:

  • On 10 April at $12.27 – the Bored & Hungry restaurant in California became the first ever catering establishment to accept payments in ether (ETH) and APE.
  •  On 21 April at $17.31–  following announcements that ApeCoin was cooperating with the OliveXFitness Metaverse to grant APE token holders special access to the metaverse’s move-to-earn Dustland games.
  • On 29 April at $26.19 – its all-time high value, as three new proposals were opened for ApeCoin DAO members to vote on.

On 30 April 2022, one of the largest NFT marketplaces, OpenSea, announced that it would start accepting the APE cryptocurrency for NFT purchases on its platform. This led to an over 30% one-day gain as the APE price rose to just below $25.

Following 102% April 2022 gains, the APE NFT coin chart started on a downwards trend, losing over 45% of its value by the time of writing (9 May). Today the coin is trading at $11.24.

In terms of APE token technical analysis, short-term sentiment for the token at the time of writing (9 May) was largely bearish.

Relative Strength Index (RSI) reading of 41.89 was pointing towards neutral territory. A reading of 30 or below would indicate that the asset is becoming undervalued. Meanwhile, the token was trading below its three, five and 10-day moving averages, indicating a bearish trend.

Will apecoin go back up? Future outlook

The debut success of the coin and its speedy price reversal leaves a question on investors’ lips: is apecoin a good investment? There are multiple factors at play.

Recent ApeCoin news saw ApeCoin DAO members approve two measures that would let them lock their tokens for a period of time in exchange for more apecoins in future. The finalisation of this decision on 5 May 2022 led to a mini surge in the APE price, which jumped by 23.9%, up from $14.13 on the previous day to $17.52.

In an announcement in a Twitter thread, ApeCoin noted that the new updates would be implemented “within the next week or two” following the end of the voting.

In addition to that, on 5 May, another proposal was going live for a community-wide vote to deal with security tools and education. The vote is set to end by 12 May 2022. If successful, the plan will be implemented in three phases.

Other ApeCoin news that could move the APE price in the future includes the launch of Otherside on 1 May 2022 – the largest expansion of the Bored Ape NFT universe, powered by apecoin.

Otherside is an online metaverse and role-playing game connected to the BAYC ecosystem where players can purchase lands and real estate. It was reported that 45 minutes after the metaverse’s launch BAYC sold over $100m worth of digital real estate.

Following the 1 May successes, crypto analyst and the founder of Eight Global, Michaël van de Poppe, said on Twitter that the APE price prediction had potential to embark on a bullish trend towards $19 and even $20.

One of the main reasons to why the APE cryptocurrency has managed to generate a lot of buzz was because it was built on the Ethereum blockchain, BigOne Exchange chair in Asia, Anndy Lian, told Capital.com.

“Looking at some of the volumes transacted on Whalealert and Whalestats, I can safely say that APE is one of the most purchased altcoins amongst the Ethereum whales. This is a very positive sign for the token and I must say APE is not just another ordinary meme coin,” he added.

However, the token could benefit from some more utility, Lian noted.

“The faith and comradeship within their community help keep the price and volume going, while doing so the other immediate thing they should really look at is to increase utility online and offline. APE is currently being used in Benji Bananas as an in-game currency and E11EVEN Residencies in Miami has also accepted APE as payment.”

Lian concluded that the proposal from APE owners to lock up and stake their coins are “very sound measures to keep the token sustainable, especially in bear markets”.

ApeCoin price prediction 2022-2025, 2030

Algorithm-based forecasting service Wallet Investor gave a bullish outlook on the future of the APE/USD forecast at the time of writing (9 May), calling apecoin “an awesome long-term investment”.

Based on its analysis of past price performance, Wallet Investor expected the APE target price to grow to $30.501 by 2023, $43.940 by 2024 and reach $87.357 by 2027.

DigitalCoinPrice echoed an upbeat apecoin crypto price prediction, projecting that the token’s value could steadily grow in the coming years. The site noted that APE could end this year at $16.23 and reach $25.30 by the end of 2025.

By the end of 2027, the site’s APE crypto price prediction suggested that the coin could trade at $35.25. Its long-term APE prediction showed that the cryptocurrency has the potential to reach $54.26 by 2030.

Note that predictions can be wrong. Forecasts and analysts’ expectations shouldn’t be used as a substitute for your own research. Always conduct your own due diligence. And never invest or trade money you cannot afford to lose.

 

 

Original Source: https://capital.com/apecoin-ape-price-prediction

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”. Currently, he is appointed as Chairman, Asia for BigONE Exchange and Chief Digital Advisor, Mongolia Productivity Organisation. Anndy is part of the Gyeongsangbuk-do Blockchain Special Committee, Government of Republic Korea, together with industry experts such as Brock Pierce. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region and was previously the Advisory Board Member of Hyundai DAC Technology.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

You can read more about Anndy’s work at www.anndy.com

j j j

Central African Republic’s Bitcoin Adoption Will Be A Real Test Case: Here’s Why

Central African Republic’s Bitcoin Adoption Will Be A Real Test Case: Here’s Why

Among the poorest, the African country is likely to serve as a case study on bitcoin adoption in under-developed and politically unstable regions.

The Central African Republic has become the first country in Africa and second in the world after El Salvador to adopt bitcoin as a legal tender. Among the poorest in the world, the African country is likely to serve as a case study on bitcoin adoption in under-developed and politically unstable regions.

Central African Republic’s move towards bitcoin is surprising since it is not among the top African countries in crypto adoption and did not have any supporting infrastructure before the announcement.

A recent Chainalysis data showed Kenya, South Africa, and Nigeria among the top 10 countries in the world for cryptocurrency use.

Reports said that President Faustin Archange Touadera signed a law to make bitcoin an official currency alongside the CFA Franc and legalise cryptocurrencies.

“This move places the Central African Republic on the map of the world’s boldest and most visionary countries,” the Presidential office said.

Significantly, the civil war-infested country is currently under an IMF-monitored financial reform programme. The IMF has opposed the adoption of bitcoin or any cryptocurrency, calling them ‘significant financial risks’.

“In the last decade, many economically-handicapped countries switched over to the US dollar. Now, people – and governments in particular – are looking at cryptocurrencies as the problem solver,” crypto expert Anndy Lian told NDTV.

In the case of the Central African Republic, the oft-repeated charge of former colonial power France’s overreaching economic influence could have been one of the triggers for legalising bitcoin.

However, there is no official statement yet linking the move to the flaws in the France-supported CFA Franc ecosystem.

While Mr Lian believes bitcoin is a good hedge against country-specific risks, he cautioned that bitcoin could only be a mid-way solution for economic stabilisation.

“Bitcoin can help build the economy in the short run. In the long term, countries need to innovate with a localised, sustainable model,” he said.

The African nation’s troubles are poor internet penetration and a high unbanked population – two metrics detrimental to adopting a sophisticated technology like bitcoin.

According to a Datareportal report, internet penetration stood at a mere 11.4% in January 2021, while the IMF estimates that 99% of the population is unbanked.

A look at the situation in El Salvador, which on September 7 last year became the first country to adopt bitcoin as a legal tender, suggests that bitcoin as a currency has not yet gained wider acceptance among the general public.

As per a National Bureau of Economic Research survey, the “usage of bitcoin for everyday transactions is low and is concentrated among the banked, educated, young, and male population”.

About 70% of El Salvador is unbanked. Interestingly, the government had supported the adoption of bitcoin to enable greater financial inclusion.

Original Source: https://www.ndtv.com/business/central-african-republics-bitcoin-adoption-will-be-a-real-test-case-heres-why-2927618

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”. Currently, he is appointed as Chairman, Asia for BigONE Exchange and Chief Digital Advisor, Mongolia Productivity Organisation. Anndy is part of the Gyeongsangbuk-do Blockchain Special Committee, Government of Republic Korea, together with industry experts such as Brock Pierce. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region and was previously the Advisory Board Member of Hyundai DAC Technology.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

You can read more about Anndy’s work at www.anndy.com

j j j

MATIC price prediction: Will going green boost Polygon value?

MATIC price prediction: Will going green boost Polygon value?

On 12 April 2022, Polygon (MATIC) made headlines with the  release of  its “Green Manifesto”, pledging to make its blockchain universe more environmentally friendly.

Polygon’s future plans might seem bright, but its native cryptocurrency, MATIC, has been on a bearish trend since the start of 2022.

After reaching its all-time high on 26 December 2021 at $2.8768 the token has been on a downward trend, losing 50.9% of its value and dropping to $1.41 by 19 April 2022.

Amid plans to go green, can the token surpass its all time high, and what’s in stock for the Polygon crypto price prediction?

What is Polygon crypto?

In the last couple of years, ether (ETH) has become one of the most popular cryptocurrency tokens. It’s the second biggest cryptocurrency by market capitalisation and the leader in decentralised finance (DeFi) (as of 19 April) due to its compatibility with smart contracts, which make building decentralised applications (dApps) easy.

However, ETH’s growing popularity has also made the blockchain very hard to use amid rising gas fees and excessive traffic. That, in addition to low throughput and no sovereignty has pushed for the creation of Polygon.

Polygon, previously known as Matic Network, is the first easy-to-use platform for Ethereum scaling and infrastructure development. Founded by Jaynti Kanani, Sandeep Nailwal, Anurag Arjun and Mihailo Bjelic in 2017, it wants to make Ethereum a “full-fledged multi-chain system”.

Using the slogan “built by developers, for developers”, Polygon has managed to combine all existing Ethereum tools with faster and cheaper transactions.

Polygon’s key features include:

  • Fast, cheap and safe transactions on Polygon sidechains that are finalised on the Ethereum mainchain
  • High throughput and multi-chain transactions
  • Smooth user experience
  • Public sidechains that support a number of protocols

So far, Polygon has released three scaling solutions:

  • Polygon PoS – a Layer 2 scaling solution that achieves great transaction speed and cost savings
  • Polygon Hermez – a Layer 2 construction on top of Ethereum that solves its scalability issues
  • Polygon Edge – allows users to run their own blockchain network with customisable features

Three others are in development:

  • Polygon Avail – targets off-chain scaling solutions and standalone chains
  • Polygon Miden – a Layer 2 scaling solution for Ethereum and relies on zero-knowledge technology to merge thousands of Layer 2 transactions into one single ETH transaction, increasing throughput and decreasing transaction fees
  • Polygon Zero – a Layer 2 scaling solution for Ethereum that separates Polygon Zero from other zero-knowledge scaling solutions

Polygon Nightfall, a unique privacy-focused scalable transaction solution, is currently undergoing a testnet. The Enterprise chain is planned.

Since launching, Polygon has allowed users to develop over 10,000 dApps, attracted over 130 million unique users, experienced over 3 million daily transactions and hosted over 3.4 billion transactions.

Polygon’s native cryptocurrency is known as MATIC, an ERC-20 token running on the Ethereum network. The MATIC crypto is used to pay fees on the Polygon network, and for stacking and governance.

A maximum of 10bn MATIC tokens were released. Over 7.8bn tokens are currently in circulation, according to data provided by CoinMarketCap, as of 19 April. MATIC currently has a market capitalisation of over $11bn and is ranked as the 18th most popular token.

Will MATIC go up or down? Technical outlook

The MATIC token launched two years after Polygon was founded through an initial exchange offering (IEO) on the Binance crypto exchange platform.
Since its launch in 2019, the token struggled to speed up, moving sideways and fluctuating between $0.01 and $0.03 for the next two years.

The Polygon cryptocurrency started to gain traction in early February 2021, soaring to new price levels by May that same year. In four weeks between 22 April 2021 and 18 May 2021, the Polygon coin price surged by 602.4%, up from $0.3494 to a then record high of $2.4544.

Polygon to USD chart, 2019 - 2022

Despite its momentary success, the coin dropped to $1.0867 but managed to rebound to $2.2102 by 26 May 2021.

Following May’s highs, the Polygon coin’s price has struggled through a volatile ride. it hit a new record-high of $2.8768 on 26 December 2021, following news that the number one Ethereum App, Uniswap, had launched on Polygon.

Since then, however, the token has been on a bearish trend, with its price losing over half of its value from the record high, dropping to the $1.4222 level, as of 19 April 2022. Between 15 February 2022 and 15 March 2022, the coin lost 25.9% of its value amid general negative market sentiment as tensions started to rise on the Russia-Ukraine border.

Polygon to USD chart, January - April 2022

What is your sentiment on MATIC/USD?

MATIC token technical analysis provided by CoinCodex showed that short-term sentiment for the coin was neutral at the time of writing (19 April), with 14 indicators pointing to ‘sell’ and 13 to ‘buy’.

relative strength index (RSI) of 35 was neutral, yet close to an oversold territory. A reading of 30 or below would indicate that the asset is becoming undervalued and a trend reversal is likely to occur. The token is trading above its five-and 10-day moving averages, yet close to its R1 resistance level of $1.47.

Is Polygon a good investment?

Some of the biggest Polygon (MATIC) news came as the platform announced that it would be going carbon-negative in 2022, revealing its “Green Manifesto” – a $20m pledge to tackle climate change.
The crypto industry has been heavily criticised for its high electricity consumption by climate change activist groups, including Greenpeace.
By joining the green movement, Polygon is not only aiding the battle against climate change, but has the potential to catch the attention of investors who value the environment, thus building the case for a bullish Polygon MATIC price prediction.

In addition, MATIC was recently listed on Robinhood, the leading retail investment and trading platform. According to Anndy Lian, the BigONE Exchange chair in Asia, that could be an endorsement for the MATIC token.

“With the Robinhood app adding Polygon to their crypto offerings, my guess is that they are also bullish on the token. In addition, the world’s most popular NFT Marketplace, OpenSea, has some of its functions run through Polygon,” Lian told Capital.com.

The expert added that Polygon’s low fees and fast speed are the two key points that are pushing more projects to mitigate the platform.

“On top of this, MATIC made good moves to deep dive into the NFT and gaming sectors. This allows them to scale and gain popularity a lot faster than their peers,” Lian said.

According to Lian, apart from the low fees and fast scalability, the platform is also easy to use and their community and developers are very supportive.

“They are building up their ecosystem by empowering projects to build dApps easily on top of their infrastructure. Their roadmap since 2017 is very clear and this has given them a lot of followers, especially in the South Asia region,” he said.

“Overall, MATIC is an exciting blockchain in the market. The demand of the token will continue to grow as long as ETH 2.0 is still not out.”

MATIC price prediction 2022 – 2025, 2030

Despite recent bearish MATIC token price action, algorithm-based forecasting service Wallet Investor gave a bullish MATIC coin price prediction at the time of writing (19 April).
The site noted that MATIC is “an awesome investment”, adding that it has a long-term earning potential.

Based on its analysis of past price performance, the website expected that the token could cost $2.439 in 2023 and jump to $6.701 by 2027.

DigitalCoinPrice supported the positive MATIC to USD forecast, but projected a much slower pace of growth in the following years, predicting that the token could rise to $1.98 by the end of 2022, $2.50 by the end of 2024 and $3.15 by the end of 2025, surpassing its December 2021 all-time high.

For the end of 2028, the site gave a $4.41 Polygon price target. Its long-term MATIC future price prediction suggested that the cryptocurrency could have the potential to reach $6.89 by 2030.

Note that price predictions can be wrong. Forecasts shouldn’t be used as a substitute for your own research. Always conduct your own due diligence. And never invest or trade money you cannot afford to lose.

Polygon (MATIC) price prediction: The bottom line

The green transition and Robinhood listing appear to be fuelling the bull case for the MATIC coin, in line with the upbeat predictions from algorithm-based forecasting sites.
There are many factors at play for the future of the coin, from the overall macroeconomic environment, acceptance of the crypto markets and the level of adoption. Always remember that your decision to trade should depend on your attitude to risk, your expertise in this market, the spread of your investment portfolio and how comfortable you feel about losing money. Crypto markets are  very volatile and involve high risk. Never invest money that you cannot afford to lose.

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”. Currently, he is appointed as Chairman, Asia for BigONE Exchange and Chief Digital Advisor, Mongolia Productivity Organisation. Anndy is part of the Gyeongsangbuk-do Blockchain Special Committee, Government of Republic Korea, together with industry experts such as Brock Pierce. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region and was previously the Advisory Board Member of Hyundai DAC Technology.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

You can read more about Anndy’s work at www.anndy.com

j j j