Apecoin is an erc-20 token, a oparticular flavor of build-it-yourself cryptocurrency on the ethereum blockchain. Apecoin is being launched by apecoin dao, a new governing body in which all ape holders are members.
Unlike NFTs, they’re meant to be “fungible” as with bitcoin (BTC), any one ApeCoin should be worth exactly as much as any other ApeCoin, and you can buy and sell them freely on what is known as a decentralized exchange, a kind of digital trading post for cryptocurrencies.
Almost every major centralized crypto exchange listed the token immediately after launch. This was an accomplishment in and of itself, given the notoriously finicky nature of major players like Coinbase (COIN). After just one day of trading, ApeCoin had a market capitalization of almost $2 billion; one APE is currently worth about $14 and the total supply of tokens is capped at one billion (not all of which is currently in circulation).