Is ApeCoin a potential token to invest in? You must dig in now

ApeCoin – one of the most bullish projects recently

According to crypto-researcher Max Maher, ApeCoin is a great plan from Yuga Labs to gain a new revenue stream, besides the profit of NFT’s sell. Nevertheless, he emphasized the widespread confusion about whether Yuga Labs or ApeCoin DAO will be in charge of significant APE-related decisions.

Furthermore, he indicated that there is something quite sneaky in the token allocation. Yuga Labs will be distributed 150,000,000 tokens, which are currently worth about $2 billion, meanwhile, Yuga Labs has stated that it has no connection with ApeCoin.

“The question is: is this equitable? Is it fair that roughly 30% of the total supply is going to insiders, essentially for free?” Max Maher wondered.

“If it [APE] were to 6x, it would roughly match the market cap of Polkadot, one of the largest and most diverse projects built on its very own blockchain.”

Furthermore, he cautioned viewers that investing in APE is “high-risk territory.”

APE was trading at $14.9 at press time, up 6.97% in the previous 24 hours and up 41.98% for the week. Nonetheless, despite the token’s value surge, a decline in active addresses has raised concerns among some users. Many people are even wondering if APE is a scam.

Maher claimed that many who received the tokens in the airdrop might have chosen to sell quickly because APE now has no clear use case.

This could be one factor behind the drop in active addresses. Now, more time needs to pass in order to judge if price changes can trigger another spike in active addresses.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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