A month ago we told you all about ApeCoin (ticker APE), the new native cryptocurrency platform from the good folks who brought you those ridiculous cartoon monkey sailor NFT things generated in a procedural which are essentially digital versions of these. Funko Pop! toys that you can find stacked at shoulder height in Walmart’s DVD section for some reason.

And for another reason, the whole crypto universe has embraced this monkey business the same time.

Every major exchange became a monkey for APE overnight, and the asset went from literally nothing (beyond, say, an announcement on BetOnline Sportsbook) to the fastest growing new cryptocurrency. of recent memory.

We have already seen other massively hyped cryptocurrencies. In fact, the new crypto hype is practically a meme at this point.

Cardano was the big beneficiary of the whole industry’s enthusiasm in 2020, while Solana was the winner in 2021. This year, even though other coins have taken off, ApeCoin is obviously the thing.

When ApeCoin launched on March 16 this year, the APE price dropped from just over $9 per coin to almost $16.50 less a day later.

This established ApeCoin as a Top 30 Cryptocurrencies, which we have never seen any asset reach so quickly. At least not anytime latelyand certainly not without being the product of a highly publicized hard fork of an otherwise already popular asset.

Usually, even with all the hype in the world, a new cryptocurrency takes months – or even years – to move up the market capitalization ladder.

Anyway, after hitting its all-time high (ATH) of $16.50 on March 18, APE kind of picked up steam for the next month, peaking at $15.50 and hitting around 10 $.75.

Although highly volatile in a vacuum, ApeCoin’s value was surprisingly resilient throughout this first month.

Now, of course, he’s doped again.

ApeCoin price started to rally in earnest on April 18, eclipsing its original ATH on April 20 at around $17.00.

Since then, ApeCoin has always climbed the mountain ladder.

Today (April 28), the price of ApeCoin stands at around $23.60. If you had the chance to enter before now, you are well seated.

Of course, there are still questions as to the general validity of ApeCoin as a cryptocurrency.

In fact, “validity” is the wrong word. APE is as valid as any other cryptocurrency. It’s perfectly legitimate in that regard.

Instead, what we assume we mean is that there is a question as to the global use case of the ApeCoin cryptocurrency.

Curious minds want to know: what is ApeCoin and what is ApeCoin To do?

By CoinMarketCap:

“ApeCoin is a decentralized project inspired by Yuga Labs Bored Ape Yacht Club project. ApeCoin was founded for use in the burgeoning APE ecosystem, which is supported by the APE Foundation. The ApeCoin DAO aims to build and maintain the APE ecosystem in a fair and inclusive manner, providing an infrastructure for ApeCoin holders to collaborate through open, permissionless governance processes.

In other words, nobody really knows.

And neither do we. We just know we didn’t buy any when it came out, and we’re mad about it.

The only other thing we know about ApeCoin is that you can use it to bet on sports online. At least you can do that at BetOnline AG and SportsBetting AG.

Currently, these are the only two legit online sports betting sites that support ApeCoin sports betting deposits and withdrawals.

Interestingly, despite being an Ethereum ERC-20 token, ApeCoin doesn’t carry the same high deposit minimums as Tether or USD Coin, which are also ERC-20 based ETH tokens.

USDT and USDC require a minimum deposit equivalent to $300, while ApeCoin deposits carry a minimum deposit equivalent to $20.

For payouts, BetOnline and/or SportsBetting AG members will need to claim at least $50 (USD equivalent) in order to receive ApeCoin withdrawals. It is quite common for in regards to half altcoins supported by either site.

As for maximum transfers, maximum APE deposits and withdrawals are set at $100,000 (USD equivalent), which is the same for all other altcoins on the two popular betting sites.

So the real question then is why would you actually want to bet on online sports using ApeCoin instead of any other cryptocurrency.

After all, given its massive growth, you are unlikely to earn as much from winning sports bets as from simply buying and holding the APE crypto.

It’s appreciated 162% in just over 40 days, and most punters can’t sustain that kind of success for anywhere near such a clip.

Of course, most cryptos can’t either.

TL; DR: Currently, ApeCoin is not a good online betting crypto.

Note however that this has nothing to do with the viability of APE as a crypto. You see, one of the things we tell aspiring crypto sports players who are using the trick to bet online for the very first time is to always buy their bet crypto – regardless of the crypto bet funding method that is – when it trades at or below its recent weekly or monthly average.

Given that the APE price has been hitting new ATHs every day over the past week, now is simply not the time.

So for now, sit back and enjoy the show.

But once ApeCoin drops, buy the drop and then use your ApeCoins to top up your online sports gaming account.