ApeCoin

ApeCoin (APE) is a token issued on Ethereum and associated with the community and products that have formed around the Bored Ape Yacht Club NFT collection. Yuga Labs, the collection's creator, has adopted APE as an asset that can be used in its own gaming and digital experience projects. When the token was launched, the plan was for token holders to decide, through ApeCoin DAO, how the ecosystem fund would be used.

Today, APE's main use is ApeChain. ApeChain is a network built on Arbitrum technology on which transaction fees are paid in APE; it is designed for the ecosystem's NFT, gaming and social applications. Beyond this, APE has been used as a means of payment in some ecosystem products and in staking programs. The token's value depends more on the vitality of the ecosystem than on any direct cash flow.

The main factors driving the APE price are general interest in the NFT market, transaction activity on ApeChain, developments at Yuga Labs and in community projects, and the effect of token unlocks on supply. On its ApeCoin page, Lzzo.com presents the Binance APE/USDT price converted into US dollars at Coinbase Exchange's USDT/USD rate, together with a chart.