Home Have we all become monkey traders (“APEs”)?

Have we all become trading monkeys (the “APEs”)?

5 min read

I'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 you can also follow people who themselves lack real knowledge on the subject. Beginners often make mistakes and don't even distinguish between investing in 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 stems from mimicking/imitating someone. Others say it comes from Wall Street Bets funding an organization (the Dian Fossey Gorilla Fund) dedicated to gorilla conservation. If you haven't been following the story, Wall Street Bets refers to a group of investors (on Reddit) who collectively and massively bought GameStop stock when it was being sold by major financial investors. The group caused the Wall Street players to lose millions, which earned them considerable 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" slogan to remind people that together they can make Wall Street tremble.

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.

One example is the APEcoin token, which was launched on Uniswap in 2020. Due to congestion fees on Ethereum, the token migrated to Binance in March 2021. The token's gradual rise in value inspired 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).

bored APE — *An NFT collectible from Bored Ape Yatch* (Which can be bought/sold on opensea).

The trend is also evident in the world of NFTs, with more and more projects exploding in popularity featuring Ape, such as the Ape Bored Yacht project which raised over 60 million euros in just a few months.

There's even a podcast (ApeTv) with regular episodes about 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 Yacht Club (BAYC): The depressed monkeys that sell for millions of dollars

Final word on the Ape and related projects

Ultimately, we're all more or less "Ape" types when we invest in projects without doing any research, just because there's hype surrounding them. Typically, when we immediately invest in projects like Safemoon or Shiba Inu , we're exhibiting this kind 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 probably see what I mean; we often get caught up in the whirlwind of crypto investors who have just discovered crypto. Those who seek to get rich above all else, even if the project is flawed and ripe for rug pulls, for example.

The reason I'm telling you this is that these projects are often planned scams. They're very good in terms of marketing and know how to lure in customers , but the developers' goal is to run off with the money, as is the case with Reg Pull.

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 aim to be very serious, like Loot Adventurer , which nevertheless adopt the conventions of APE and degen games…

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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