Apeing

November 21, 2023 - Around 2 mins mins to read

Understanding Apeing

Apeing is the term used to describe the practice of buying a token shortly after its project launch without conducting thorough research. This behavior is driven by the fear of missing out on potential gains that could be lost if one hesitates to perform due diligence.

The popularity of the term “apeing” grew during the 2020 “DeFi Summer” when sudden and unannounced token project launches resulted in a small group of traders making significant profits by purchasing these project tokens within a very short time frame after the initial launch.

As news of these substantial gains spread on social media, other traders attempted to replicate them by buying tokens from any newly launched project without conducting proper research. This approach, characterized by a lack of thorough analysis, is what gives apeing its name.

Author: Ross Middleton, co-founder and CFO at DeversiFi

Ross Middleton is the co-founder of DeversiFi, a decentralized finance (DeFi) trading platform powered by StarkWare’s scalable technology. In his role, he oversees finances and manages DeversiFi’s project partners and largest customers.

Prior to his involvement with DeversiFi, Ross worked at the Ethfinex and Bitfinex exchanges. Before entering the crypto industry, he spent ten years as a professional energy trader and analyst in London. During this time, he worked on global energy trading desks at companies such as Centrica, Gazprom, and RWE, utilizing advanced proprietary fundamental-backed trading strategies. Outside of trading, Ross is an angel investor and Ironman triathlete. His extensive experience in both traditional and non-traditional asset trading, as well as his connections in the alternative finance space, contribute to his valuable insights. Ross holds a BSc in economics.