APE is a magnificent cash-grab that you shouldn't touch with a 10-foot pole.
APE was launched by the ApeCoin DAO on 16 March 2022 with a 'fixed token cap' of 1 billion tokens. That sounds pretty good, until you realise: (1) all 100% was airdropped to pre-existing stakeholders; and (2) the supply is STILL INFLATIONARY, because of that 1 billion token cap, a big chunk (approx. 40%) haven't been unlocked yet. In fact, based on the APE website, from March 2023, there will be about 16 MILLION APE unlocking every month.
Not only that, APE has basically no use case. On the ApeCoin marketplace, of 10,000 items for sale, only TWO are up for grabs with APE - all other prices are ETH. MAYBE APE can be used for the Otherside, but frankly, from a tokenomics POV, anyone buying APE is basically exit liquidity for VCs / Yuga Labs / BAYC/MAYC whales.
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