ApeCoin was one of the most discussed cryptocurrencies in the second half of March. So is it ideal for long-term investments? Cryptocurrency markets continue to fall as Bitcoin remains below $43,000. A significant part of altcoins gave away the bulk of their profits on the last bullish wave. So what awaits ApeCoin investors?
ApeCoin has been falling steadily since March 17, when it was listed. Since then, he has never managed to exceed his ATH. With such a rush, the price often does not reach the ATH level again. ApeCoin tried to recover slowly, but couldn’t get far. It has been in a gradual downward channel since the end of March and looks like it will continue in the same vein.
Blockchain metrics also seem to give weight to the above idea. Was it just a nice way to put a few more million dollars in the pockets of the already very rich owners of BAYC? Over the past few weeks, the volume of ApeCoin on the network has been negligible. A few days after the launch, there was a surge, but since then the volumetric effect has been extremely weak.
Curiously, the strongest addresses had an offer as a percentage of the total offer, which fell from 21% on the launch day (March 17) to about 10% and continued to decline from that moment.
In accordance with the above two signs, daily active addresses are also gradually falling.
Can I buy ApeCoin?
All this leads to the following question. Was it a carefully crafted carpet in the free image? In the last week of March, we mentioned similar details again. Tokens promise the decentralization of the network, so why do insiders get most of the profits?
ApeCoin DAO was able to give most of the ApeCoins as a “gift” to the original supporters of the project. Yes, he also earned very quickly thanks to this. In this context, ordinary investors should know that as the crypto industry matures, the nature of the compromises and hacks it will face will also change. The worst-case scenario with ApeCoin may be a delusion, but if it turns out to be a real trap, it will go down in history as an extremely interesting story.