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Friday, January 27, 2023

ApeCoin Faces A Huge Risk

The ApeCoin price is currently hovering around $0.025 USD and will soon be slumping back down to its original market price of $0.011 USD in the wake of its launch date for staking rewards. The news isn’t all bad, though.

Since APE tokens must be kept in an active staking wallet to receive their rewards, this means that users who put up APE tokens for staking will still get paid out according to their holdings at that time—provided they didn’t withdraw them from their wallet while they were still getting paid out as part of the “interest” process!

ApeCoin Might Go Down By 30%

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Your ApeCoin is airdropped to you automatically if you stake them. The more APE units you have staked, the more rewards you will receive for holding them in your account.

The price of ApeCoin is correlated with the amount of staking. When there are lots of people trying to earn interest on their token holdings by staking it, then a lot of money flows into ApeCoin and drives up its price (and vice versa).

The price of ApeCoin is also correlated with how much marketing is done on social media or any other medium which can reach new potential users and investors.

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To join the Monkey Business, you need to:

  • Stake APE tokens. You can stake your APE tokens using the staking tab in your wallet or by calling the “stake” API function with some parameters.
  • Get a bonus! If you stake 100,000 APE tokens, you will get an extra 10% of the total PoS revenues of all stakers (including yourself). The maximum bonus amount is capped at 30% for any single address.

    The key to the whole thing is knowing how to stake some APE. For that, users need to be running a node, and for that, they need to know how to set up a local node.

    A local node is basically just an instance of the open-source APE blockchain software running on your computer that you can use as a personal wallet and store your coins in.

  • Being able to run your own local node makes it easier for you to store your coins and stake them whenever you want because there’s no need for any third-party services or anything like that — everything happens on your machine, behind closed doors and out of sight from prying eyes (which means no one will be able to see what else you’re doing with them).
  • Setting up a local node isn’t too hard either; all it takes is downloading some files from Github (the developers’ website), following their instructions step by step until everything works smoothly again.”
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