ZoneBitcoin EditorialI'm not going to go around in circles to tell you what an APE is, you must have come across the expression quite a few times if you read crypto news.
First of all, you should know that the word "Ape" means "great ape" in English. Then, in the world of cryptos, and by extension, an APE represents a person who will quickly invest in a project, without having taken the time to do research, just to follow the trend and what others are doing.
This antics is then represented by the image of the monkey. Nothing more coherent, right?
If we're honest, it's happened to all of us, especially beginners. It's even completely normal when you discover projects related to blockchain technology. Let's not lie to ourselves, it's not as "accessible" and easily understandable as we would like to believe. At first, it's hard to understand the ins and outs and reading the white paper turns out to be a difficult undertaking, especially those that are full of technical terms etc. In fact, we will tend to follow what this or that person is doing.
The problem, as you can imagine, is that we can also follow people who themselves have no real knowledge on the subject. THE beginners often make mistakes and don't even do the difference between investing and trading cryptocurrencies….
You would be surprised to know the number of so-called influencers who invest in bogus projects and have not taken the time to consider the project. They buy for one reason only: the intuition that it will go up.
What is the origin of the concept “APE”?
Some say it comes from aping/imitating someone. Others say it comes from wallstreetbets who financed an association (Dian Fossey Gorilla Fund) which works to protect gorillas. If you have not followed the case, the wallstreetbets designate a group of investors (on Reddit) who massively and collectively bought GameStop shares upwards while it was sold by large financial investors. The group caused WallStreet players to lose millions, which earned them great notoriety 😉
In parallel with the event, it turns out that Google is showing a spike in searches for photos of the Planet of the Apes (Rise of the Planet of the Apes).
The fundamental idea that is sought is that "unity is strength". Thus, as with WallStreetBet, what made them win was having a multitude acting in the same way.
Some of them then use the “Apes together strong” (“Apes strong together”) to remind us that together, they can shake WallStreet.
The “Ape” becomes a meme used in the crypto trading universe
Now the word “Ape” often comes up in the language of crypto traders. We have even seen many projects claiming this meme.
We can cite the APEcoin token for example which was launched on Uniswap in 2020. With congestion fees on Ethereum, the token migrated to Binance in March 2021. As the token experienced a gradual increase, this gave ideas to others to create similar projects.
We can talk for example about ApeSwap which is a decentralized exchange, a copy to be exact of PancakeSwap as often happens.
Would you be surprised to know that the exchange's token is called BANANA?
So ApeSwap, like many projects linked to Farming, offered incredible rates of return with pools paying out more than 2000%. With APYs of this kind and Burns of tokens, we are clearly in pure speculation.
Obviously, with such returns, it especially attracts degens (investors who invest in anything just to make a profit).
The trend is also showing itself in the world of NFTs with more and more projects exploding featuring Ape like the project Ape Bored Yacht which raised more than 60 million euros in just a few months.
There's even a podcast (ApeTv) with regular episodes on new project releases.
In short, APEs become memes and are now an integral part of crypto culture in their own right.
—>Read the article: Bored Ape Yatch Club (BAYC): The depressed apes that sell for millions of dollars
Final word on the Ape and related projects
Ultimately, we are all more or less Ape when we invest in projects without having done research, but just because there is hype about it. Typically, when investing immediately in projects like safemoon ou Shiba Inu, we are a bit in this type of behavior.
Yes, the least you can do is be honest with yourself.
Deep down, sometimes it's hard to resist temptation. We see crazy returns, how can we refuse? And there are so many influencers, so many people on Twitter telling us to go here and then there and then try this protocol and this token will explode. Videos also abound with newly created tokens on which we are told that we can win big.
I mean, of course the temptation is great. The bottom line of the project? The usefulness of the project? To hell with explanations, we want performance!
In short, you certainly see what I mean, we are often caught in the whirlwind of crypto investors who have just discovered crypto. Those who seek to enrich themselves above all, even if the project is rotten and conducive to Rug Pull for example.
If I tell you this it is because these projects are often planned scams. They are very good in terms of marketing and know how to bait the barge but the goal for developers is to get away with the cash, like the case of Reg Sweater.
Keep this in mind when you see sky-high returns. It's often suspicious, especially if the project is frankly hollow.
Conversely, there are also projects that are intended to be very serious, such as Loot Adventurer and which nevertheless take up the codes of the EPAs and the degens…
However, the good thing about DeFi is that we are free to do what we want and invest where we want. Freedom is already winning, right?
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Disclaimer: This is not investment advice. This is general information. Do your personal research before investing.
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