Explore how Enzyme (MLN) empowers decentralized, tokenized fund creation and management, revolutionizing DeFi investment for all users.

 (DeFi) protocols have been around since 2015, when the 

 (ETH) blockchain was born. For the past decade, DeFi has been a major driving force in the crypto industry. As it often happens, things that worked perfectly in the early years of the DeFi revolution no longer adequately meet the needs of today’s users.

In order to stay competitive and relevant, DeFi protocols need to adapt to the evolving nature of the industry. New features that are quickly becoming must-haves include cross-chain functionality, architectural modularity, 

 (AI) and, importantly, user empowerment. This last point is probably the most important one — DeFi solutions today need to support decentralized protocol management, and allow their end-users to be the real driving force behind the platforms' value-generating activities.

Enzyme Finance, formerly known as Melon Protocol, is a DeFi platform that allows users to create and manage tokenized funds and strategies that other users can invest in. Enzyme aims to empower DeFi users by allowing anyone to become an investment manager or crypto investor — or both. Enzyme fund managers generate value for themselves, other users and the protocol, while fund investors support value-generating activity with their liquidity contributions.

 (MLN) is an Ethereum-based DeFi protocol that allows users to create tokenized investment products on-chain. 

Other platform users can invest in these funds to earn returns. These tokenized products, created as vaults, follow various trading strategies set by the vault creator. Additionally, creators can assign delegated traders to their vaults who can optimize the strategies followed by the vault. As such, Enzyme acts as a decentralized noncustodial solution that serves the needs of skilled crypto fund managers, traders and ordinary investors who would like to see their investments grow.

Enzyme’s protocol empowers the various groups of DeFi users and breaks down the barriers to entry to investment management, active trading and investing. In the world of traditional asset management, creating and launching an investment fund product is an extremely costly and time-consuming procedure. It could take aspiring institutional entities months, if not years, to get their fund vehicles approved, and the financial requirements for a successful asset management product are often staggeringly high, sometimes running into millions of dollars.

In stark contrast to the onerous requirements of traditional funds, launching your tokenized fund product on Enzyme Finance can take from minutes to a few hours at most. There are no significant capital requirements for a vault, either, and fund creators can assign a variety of fees and rules for joining their investment vehicle. Therefore, investors might need to meet certain requirements, depending upon the settings defined by the vault creator.

Enzyme Finance is among the oldest surviving DeFi protocols on the market. The project was initially conceptualized and founded in 2017 under the name Melon Protocol by mathematician Rito Tinkler and former vice president of Goldman Sachs, Mona El Isa, who also acted as the CEO of Melonport, the now-defunct private company behind the Melon Protocol project.

In 2019, Melon was launched on the Ethereum 

. The following year, Melon rebranded to Enzyme. Over the years, the platform underwent multiple version upgrades, culminating in the latest version, Enzyme v5. The latest version of the protocol has implemented (or aspires to implement within 2025) several innovations and improvements, including more cross-chain product options, better architectural modularity, simplified protocol fees, 

 as its infrastructure layer to support vault creation, depositing, trading strategy execution, cross-chain transfers and other key functions required for tokenized fund management and investing.

Vault creators are provided with easy-to-use tools to launch their tokenized asset management funds and execute fund operations — without any programming skills required. These tools help creators automate strategies to do the following:

Creators can also assign the role of Delegated Trader to users who are ready to help optimize the vault's yield using their own strategies.

Another key user group is the depositors, who invest their funds in the vaults to earn returns.

The platform also welcomes builders — developers who can contribute their own third-party solutions to improve the Enzyme ecosystem. Typical contributions by builders include the functionality to bridge Enzyme vault strategies with off-platform (and often, off-chain) financial vehicles. Builders also help develop specialized products for additional functions on Enzyme — such as an app to attract early liquidity, users and investors for projects at a pre-launch stage.

Enzyme.Blue is a specialized solution for institutional entities. It acts as an all-in-one platform for tokenized asset management, trading, analysis and valuation. While anyone can use the core Enzyme protocol, Enzyme.Blue provides all the necessary tools for complex fund management that addresses the needs of the most sophisticated enterprise users.

Using Enzyme.Blue, institutional digital asset managers can access over 30 DeFi protocols for features like 

Enzyme.Onyx is another enterprise-grade, packaged solution offered by Enzyme Finance. To be launched in the summer of 2025, Onyx offers institutional asset managers an advanced wallet tokenization layer. Wallets linked to Enzyme.Onyx can be used to seamlessly collect deposits from multiple participants and allocate the funds to a virtually unlimited variety of protocols and strategies.

Onyx is envisioned as a tokenization and asset management solution with more options in terms of assets and accessible blockchains than Blue. Per the project’s website, Onyx will boast network compatibility with any blockchain, whereas Enzyme.Blue is compatible with Ethereum, Base, Arbitrum (ARB) and Polygon (POL). Unlike Blue, Onyx will boast ultimate cross-chain accessibility. The number of cryptocurrencies supported by Onyx will be “unlimited,” while Blue features support for over 200 crypto assets.

Enzyme.Myso is a secure platform for creating, managing and trading on-chain options strategies. For options traders, Myso provides a rich set of customizable features. It also boasts wide token support, deep liquidity and on-chain, noncustodial settlement.

Enzyme.Myso may be an ideal product for options-based strategies for a wide variety of 

 entities. A typical user of Myso could be a digital asset management firm, a crypto whale or a 

MLN is Enzyme Finance’s native cryptocurrency. An ERC-20 asset on Ethereum, the MLN token has a number of key functions within the protocol. To begin with, users pay fees on Enzyme with MLN to utilize the services offered by the platform, including launching vaults and investing in them. MLN that’s collected from the protocol’s fees is automatically 

 in order to maintain supply scarcity for the asset.

The Enzyme network has also committed to minting 300,600 MLN each year to fund its ecosystem development. The Enzyme Council DAO can then allocate these MLN funds as grants to promising initiatives. Any unused MLN from these yearly allocations is burned at the end of the year.

Additionally, going forward, the token is envisioned to be used for governance as well, so MLN token holders will have the right to vote on the direction of/changes to the protocol.

MLN has a total and circulating supply of 3,001,195, with no specified supply cap.

 in Bybit's Innovation Zone as a Perpetual contract based on USDT. The contract allows you to trade with up to 50x leverage.

As of Apr 29, 2025, the MLN token is trading at $9.51, which is 96.3% lower than its ATH of $258.26 on Jan 4, 2018, and 430.5% higher than its ATL of $1.79 on Mar 13, 2020.

Long-term price forecasts for MLN are mostly bullish. DigitalCoinPrice 

 of $32.15 in 2027 and $48.73 in 2030, respectively, whilePricePrediction 

Enzyme Finance helps fund managers decentralize traditional asset management and apply diverse investment strategies. Its technology is among the leading solutions for institutional entities to launch completely customizable, own investment funds in the area of on-chain asset management. For individual users, the protocol can also be a great source of cost-effective investments, thanks to the variety of vault strategies it offers.

Additionally, the platform's enterprise-focused products enhance user experience by providing a unified asset management environment with a rich tool set to manage the most complex strategies. 

Thanks to Enzyme, cryptocurrency portfolio management has never been easier, both for fund managers and investors.

Intermediate

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Enzyme (MLN): The backbone of tokenization finance

In this article, we’ll explore Zora’s decentralized social network, the ZORA token launch, and how Bybit users can trade ZORA on Bybit.

The social media landscape is currently flawed. Its challenges for creators range from opaque monetization policies to platforms that take a big cut of creators’ earnings. Zora, a decentralized social media protocol, aims to fundamentally change this paradigm, giving creators control over their content and introducing novel monetization techniques through tokenization. 

In this article, we’ll explore Zora’s decentralized social network, its key features and the ZORA token, and learn how Bybit users can participate in the Zora launchpool event.

Zora is a new decentralized social media protocol with a unique approach to content monetization. It allows creators to tokenize every post (text, image or video) by allowing each post to be minted as an 

 (termed a “Content Coin”). Zora is built on the 

 incubated by Coinbase. On Apr 17, 2025, the official Base X account 

 the “Base is for everyone” content coined on Zora. Following that post, user activity on the platform spiked.

Zora was co-founded by Jacob Horne and Dee Goens. Horne, a former product manager at Coinbase, is recognized for his advocacy of open-source 

 infrastructure, and Goens contributes his expertise in community development.

The project has successfully completed several funding rounds. In 2020, Zora secured $2 million in seed funding with participation from firms including Kindred Ventures and Coinbase Ventures. This was followed by a $10 million raise in 2021. The project's growth continued with a Series B round on May 5, 2022, expected to raise $50 million at a valuation of $600 million.

Zora launched its Ethereum-based NFT marketplace, known as “Auction House,” in January 2021. This was designed as a decentralized, permissionless platform to empower creators to mint, list and auction their NFTs. One key innovation introduced by Auction House was the concept of the 

 to improve NFT liquidity. Over time, Zora expanded beyond Auction House and Ethereum, transforming into a comprehensive decentralized social media platform. It uses the same ERC-20z standard to create a tradeable coin from each piece of published content. 

Each of these coins has a total supply of 1 billion units, with 10 million automatically allocated to each coin’s creator. These tokens are instantly tradable on 

 (DEXs) such as Uniswap via the Base network, providing liquidity and enabling creators to monetize their work. Additionally, creators earn a 0.5% fee from each transaction involving their tokens, offering a new avenue for content monetization.

ZORA tokenomics and token unlock schedule

Zora announced the launch of ZORA community coin — along with its airdrop details and tokenomics — on Apr 21, 2025. The coin went live on Base two days later (April 23). 

The total supply of ZORA is 10 billion, with initial allocation as follows:

According to the project’s official docs, the ZORA token was launched “for fun only.” ZORA token holders have neither governance rights, nor a stake in the Zora protocol.

The tokens will be unlocked linearly as follows:

 on Apr 23, 2025. Users can stake ZORA, MNT or USDT to earn a share from a substantial prize pool of 100,000,000 ZORA tokens. 

The event runs through April 30, 2025, 1PM UTC. Staking requirements are as follows:

If you're interested in the ZORA token, don't miss this opportunity! Visit the 

 (FDV) of ZORA stands at $187 million. ZORA gained 11.3% over the past week, with a 24-hour trading volume of $42.6 million.

Bybit has recently listed the ZORA token on Bybit Spot 

To trade ZORA on Bybit Spot, log in or create a Bybit account 

 (UTA) with crypto transfers or fiat deposits. Then, head to the 

 Spot trading page to start trading. In addition, Bybit users can also trade the 

 with up to 25x leverage with Bybit Futures.

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Zora (ZORA): Creator-focused on-chain social network

Bybit Lens is an AI-powered trading intelligence tool that consolidates real-time data, market sentiment and trading signals into one streamlined interface.

In crypto, timing is everything — in addition to knowing where to look. When the markets move fast and narratives shift even faster, digging through charts, Telegram threads and X timelines can feel overwhelming. Besides, every second you spend searching for data could mean a missed opportunity. That’s where Bybit Lens comes in. More than just a research tool, Lens is your real-time, all-in-one AI-powered assistant. Lens puts market insights, project data and tailored strategies at your fingertips so you can go from trend-spotting to trade execution in a single flow.

 is an AI-powered trading intelligence tool that consolidates real-time data, market sentiment and trading signals into one streamlined interface.

Developed as part of the TradeGPT suite, Lens is more than just a dashboard; it’s your personal crypto analyst that never sleeps. Backed by high-quality data sources and built for actionable clarity, Lens helps traders cut through the noise and make better, faster calls.

Behind the scenes, Bybit Lens draws from a robust mix of data streams and intelligent systems. First, it taps into SoSoValue, a leading provider of on-chain metrics, giving you visibility into wallet activity, token flows and project traction across 

s and DeFi platforms. Then, it layers in proprietary insights from Bybit’s own centralized exchange — everything from order book movements to open interest and user sentiment that you simply can’t find elsewhere.

But Lens doesn’t stop at hard data. It also tracks market-moving reports from institutions, as well as real-time buzz on social media from traders, KOLs and crypto Twitter. These multiple data layers are then distilled through AI-powered models that identify trends, extract relevant signals and generate a clear summary of what’s happening and what you might want to do about it.

The experience is intentionally simple. You’ll land on a clean interface that surfaces the day’s hottest assets via 

. From there, click into any project and you’ll be met with a full analysis: basic background, recent trading performance, community and media sentiment plus an AI-generated strategy overview. 

It’s like having a research analyst in your pocket, minus the jargon.

Where most tools stop at data, Lens goes a step further, offering suggested trade ideas based on your behavior, preferences and what’s trending in the market. 

What makes Lens different from every other market tool out there? It's not just the technology — it’s the way everything comes together in one place, designed for actual traders.

With Lens, there’s no more flipping between 10 tabs just to figure out what’s moving. Instead, you get a single interface where market trends, community buzz, trading strategies and execution all converge. The platform doesn’t just surface noise, it condenses it into clarity. Even if you’re new to trading, Lens breaks things down in a way that feels intuitive, not intimidating.

Another key advantage is the tailored nature of its insights. Lens looks at your trading behavior and portfolio preferences, then offers AI-backed strategies that align with your style. It’s like having a tool that not only understands the market, but also understands you.

And because it’s part of the Bybit ecosystem, the jump from insight to execution is frictionless. See something you like? One click, and you're on the Bybit trading page, no copy/pasting or toggling required. This seamless experience is especially powerful during fast-moving markets when seconds matter.

Now that you fully understand how Bybit Lens work, let’s take a look at how you can get started with it. You’ll need to have a Bybit account before you can proceed. If you don’t already have one, you can check out our 

: Log in to your Bybit account and hover your cursor over the 

: From here, you’ll be able to view our 

 along with the project’s background information and recent trading data. You’ll also be able to view the current market sentiment, latest news and social media posts on the project, as well as market trends. 

If you have a specific token or project you’d like to know more about, simply type its name into the search field at the top of the page. 

: Looking to capitalize on the current trends and make a move? Click on 

If you’ve ever wished for a smarter, faster way to make trading decisions, Bybit Lens is it. It doesn’t matter whether you’re navigating market hype, unsure of which coin to trade next or just trying to stay one step ahead, Lens brings you the tools and insights you need without the overload. More than just a research platform, it’s a decision-making engine. With Lens, you’re not just keeping up with the market — you’re outsmarting it.

Bybit Lens isn’t just another analytics dashboard. It’s your strategic co-pilot in crypto, an AI-driven platform that transforms noise into clarity, ideas into actions and hesitation into confident trades. With everything you need to analyze, decide and execute in one place, it’s time to trade smarter with Bybit Lens.

Beginner

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Bybit Lens: Your one-click portal to crypto insights and trading

Ethereum's EIP-9698 proposes raising the gas limit from 36 million to 3.6 billion units over four years, potentially increasing transactions per second (TPS) to 2,000.

Daily top performer — Virtual Protocol (VIRTUAL)

On Monday, the S&P 500 rose 0.06%, and investors now await more key earnings and economic data this week. Gold remains strong long-term but looks overbought short-term. Traders are watching for a pullback to around $3,200 before buying. The Coindesk Indices, which tracks the broader crypto market, rose 0.51%, with Bitcoin up 0.39% and Ether down 0.28%, in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today's top performer is VIRTUAL, which surged 35.5% following Virtuals Protocol's full refund to users affected by an exploit attempt.

Virtuals Protocol (VIRTUAL), launched in October 2024, built on Base, lets users create AI agents that interact in 3D spaces. It features IP agents like Luna and functional agents like G.A.M.E., with its native token VIRTUAL powering the platform's economy. 

, including those who sent VIRTUAL directly to the wallet. However, three wallets remain under review for direct transfers. Virtuals Protocol condemned P.L.A.Y Game AI for attempting to exploit the launch, leading to the permanent failure of the P.L.A.Y Game AI launch. A compensation plan is being implemented for affected users, and the protocol reassured the community that it will never ask for funds outside official channels.

Check out the latest prices, charts, and data of 

Ethereum's EIP-9698 proposes raising the gas limit from 36 million to 3.6 billion units over four years, potentially increasing transactions per second (TPS) to 2,000. This gradual, predictable increase would enhance scalability without a hard fork, starting around June 1. Ethereum aims to improve throughput and stay competitive with faster, lower-fee blockchains. If approved, the proposal would automate gas limit growth, optimizing the network’s efficiency and hardware advancements.

Yesterday, BTC spot ETFs saw total net outflows of $379.7 million, with $42.7 million from GBTC and $337.0 million from other ETFs.

Ika, Sui's first sub-second MPC network, is offering an 

. Users can join by either posting about Ika on X (free, via GiveRep) or locking SUI tokens through Spring Sui and completing tasks via the Ink Sack app to earn more rewards. Locking iSUI earns "Ink Droplets," which boost the airdrop size. Ika is backed by $21M+ funding and the Sui Foundation. Full guide: 

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Ethereum's proposal to boost gas limit could increase transactions to 2,000 TPS by 2029

Bybit Learn

Altcoins

Memes

Metaverse

ApeCoin (APE) is the governance token of the Bored Ape Yacht Club (BAYC) ecosystem, with added utility thanks to the addition of a metaverse and Yuga lab's various partnerships. 

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The launch of ApeCoin (APE), the token of 

 Bored Ape Yacht Club (BAYC), generated a great deal of commotion in Mar 2022. To NFT advocates, ApeCoin wasn’t viewed merely as a token, but as the symbol of NFT evolution driven by BAYC, which became a household name at the peak of the NFT boom. 

Yet it could not escape the controversies that marred its launch. On top of that, in Jul 2023, the floor price of BAYC fell to a devastating low, which led many to question the value of the APE token.

In this article, we'll take an in-depth look at ApeCoin and various ApeCoin controversies, and consider whether ApeCoin is still a good investment for the long haul.

 token developed primarily for the Bored Ape Yacht Club (BAYC) ecosystem. Valued highly by NFT collectors and Bored Ape 

 owners, it's also marketed as a decentralized protocol layer for community-led initiatives.

For those wondering exactly what ApeCoin is, it’s a governance token of the Bored Ape ecosystem that’s gained a tremendous following after the 

 (BAYC) NFT project exploded in popularity. Many celebrities — such as Justin Bieber, Paris Hilton, Snoop Dogg and Serena Williams — own collections of NFTs related to the BAYC ecosystem.

While some may discount ApeCoin as a meme coin, its utility goes far beyond just being the governance token for Bored Ape holders, due to its expanded ecosystem that includes NFTs and a metaverse. This ultimately makes ApeCoin a potential long-term investment for those bullish on the BAYC ecosystem.

ApeCoin is the utility token of BAYC. Since BAYC is an NFT project initiated by 

, the coin is technically its brainchild. Two of the four founders behind the development of the BAYC ecosystem are Floridians 

According to the official BAYC website dedicated to ApeCoin, the coin has been launched and is overseen and managed by ApeCoin DAO. This 

 is an independent body, governed by Bored Ape NFT owners, holders of related NFTs and ApeCoin investors. In other words, whoever owns APE coin or a Bored Ape NFT has the right to vote on proposed changes to the protocol and new projects.

Overseeing the DAO is the Ape Foundation, which ensures that ideas from the DAO community are brought to fruition. The Ape Foundation is headed by five high-profile crypto investors, each of them selected for a one-year term. The current heads, also known as the Special Council, go by the handles of Bored Ape G, Gerry, Vera Li, Waabam and CaptainTrippy. Waabam and CaptainTrippy were voted in by the ApeCoin DAO to replace Reddit co-founder Alexis Ohanian and Animoca Brands chairman Yat Siu, 

 — the platform behind ApeCoin and its flagship NFT Bored Ape Yacht Club — first launched BAYC in Apr 2021. After BAYC’s popularity exploded, Yuga expanded its NFT collection to include Mutant Ape Yacht Club and Bored Ape Kennel Club.

In 2022, Yuga Labs sought additional pathways to integrate ApeCoin into different projects related to the BAYC ecosystem. First, it launched a gamified metaverse, 

, which uses ApeCoin in its ecosystem. Secondly, it acquired two of the most popular NFTs, 

, expanding the use of ApeCoin. CryptoPunks are some of the first non-fungible NFTs on the 

 blockchain, consisting of 10,000 digitally pixelated characters. Similarly, The Meebits are 20,000 unique, 3D voxel characters registered on the Ethereum blockchain.

 (BAYC), consists of 10,000 unique cartoon ape NFTs on the Ethereum blockchain. BAYC burst onto the scene with a boom, garnering high-profile support from celebrities like Justin Bieber and Madonna.

 (MAYC) is a collection of 20,000 ape NFTs based on BAYC. The apes are essentially a mutant version of the Bored Apes. Hence, BAYC owners can actually create their own MAYC NFTs through a smart contract that applies Mutant Serums to their Bored Apes. With three types of serums available, a BAYC owner holding a single Bored Ape NFT can create up to three different Mutant Apes. Ten thousand Mutant Ape NFTs were made available for public sale, while 10,000 Mutant Serums were also airdropped to existing BAYC holders.

 is a collection of 9,602 cartoon dog NFTs launched in Jul 2021. Yuga Labs made these complementary NFT pets for BAYC holders, though the BAYC owners have to spend gas fees in order to mint them. While the pet NFTs all boast distinctive traits, each one is depicted as a Shiba Inu, a canine breed popularized by dog-themed meme coins such as Dogecoin (

Introduced one year after the establishment of BAYC, 

 is a 3D metaverse created in collaboration with Hong Kong-based game software company 

. Otherside offers users the ability to build their own unique realms featuring Otherdeed NFTs that represent land plots with the remarkable ability to evolve over time. 

The Otherside metaverse is split into an 11-part storyline that gives users a compelling narrative gameplay experience. As a fantastical landscape, Otherside combines elements of a cosmic expanse and a peninsula, brimming with an array of peculiar creatures, valuable resources and elusive treasures. All transactions in Otherside are driven by ApeCoin (APE).

The potential use of ApeCoin isn’t limited to governance. As mentioned earlier, Apecoin is also the utility token powering the Otherside metaverse that promises to expand the BAYC universe.

Animoca Brands is also working with Yuga Labs to integrate ApeCoin into its portfolio of blockchain-based games, traditional games and other products. 

, a free-to-play action-adventure mobile game featuring an adorable monkey named Benji and his friends leaping through jungles, allows its players to earn ApeCoins.On Mar 17, 2022, Animoca Brands 

 players could earn tokens to exchange for ApeCoin as it transitions to a play-to-earn model on Ethereum.

Starting from Dec 2022, APE can also be staked. On Dec 5, APE holders will be able to deposit their ApeCoin funds on 

, to begin accumulating from Dec 12. During the first year, 100 million APE are being distributed into staking pools as rewards, split into 30,000,000 tokens for the ApeCoin Pool, 47,105,000 tokens for the Bored Ape Pool, 19,060,000 tokens for the Mutant Ape Pool and 3,835,000 tokens for the Pair (BAKC) Pool. 

There are four ways to stake your ApeCoins:

Note that if you choose to sell your NFT while it’s staked in the respective pools, all your staked rewards will go to the new owner. Therefore, it’s crucial to unstake your NFT before selling it.

ApeCoin’s total supply is capped at 1 billion tokens, distributed among four main groups as follows: 

Now that we understand what ApeCoin is, it's time to discover the ApeCoin DAO. 

 is the decentralized governing body behind the BAYC ecosystem and ApeCoin. All APE holders are members of the ApeCoin DAO, and share voting rights.

 Anyone can become a member of the DAO by purchasing an Ape NFT.

According to its founders, the ApeCoin DAO's primary purpose is to give its members power by respecting their wishes. Based on the community guidelines and desires of the wider BAYC community, the DAO proposes various projects through the APE Improvement Proposal process. After the ApeCoin DAO votes on a proposal, the 

 is then tasked with executing the decision.

Despite its glittering launch, ApeCoin has also been fraught with controversies. Let’s take a closer look at some of the disputes in which it’s been embroiled.

ApeCoin experienced its very first controversy during its launch day for its token distribution structure, which favors insiders and BAYC founders, who will eventually get 22% of all tokens. Similarly, Yuga Labs will receive 16% of all the proceeds. Moreover, nearly 14%, constituting 140 million tokens, was distributed to launch contributors, many of whom were said to be venture capitalists. Hence, critics assert that the ApeCoin DAO may not be as decentralized as they claim. 

Furthermore, on the day of the launch, the price of ApeCoin spiked to $40 per share, but quickly plummeted to $8, which led to many suggesting that there might have been insider trading.

There were also security issues surrounding the 

 mechanism typically used before a token airdrop to ensure that only loyal long-term NFT holders are eligible. This allowed anyone to buy the NFT just before claiming the reward, making it vulnerable to a 

Indeed, an exploiter actually managed to borrow a BAYC NFT on 

 for less than $300,000 as collateral to use as a flash loan from a vault that tokenizes NFTs. They then used the flash loan to redeem more Bored Ape NFTs and claim 60,564 APE — which they then sold for over $800,000.

 In Oct 2022, the startup behind ApeCoin, Yuga Labs, 

 as to whether ApeCoin and its Bored Ape NFTs were unregistered securities. Although Yuga Labs wasn’t charged in the probe, APE’s price couldn’t escape the fallout from the report, and its price fell by over 10% in just 24 hours. 

ApeCoin faced another backlash from its community for the disproportionately high salaries of its DAO leaders. This internal disconnect caused APE’s price to plummet by 28% within a week, as it hit a low of $2.08 in Jun 2023.

On Jun 10, 2023, the ApeCoin DAO secretary, Vulkan, posted an organizational chart of the ApeCoin DAO leadership infrastructure, detailing the monthly salary for each mentioned role. In particular, the Special Council members’ salaries jumped out to the public with their five-figure number. Many web3 users questioned the high wages, which added up to a six-figure annual sum.

Special Council members Yat Siu and Vera defended their substantial salaries by drawing comparisons to public company directors and emphasizing the value they contribute. 

Furthermore, Special Council member Bored Ape G stressed that they’ve been helping with the decentralization of the DAO through the 

, which also helped the DAO to save on costs, thereby producing evident results.

However, to many critics in the web3 sphere, true decentralization would mean that everyone in the community gets to vote for the salary of those in the Special Council, instead of their salaries being decided by a small group of people. 

ApeCoin is priced at $1.92 as of Jul 12, 2023, which is 92.8% lower than its ATH of $26.70 on Apr 28, 2022, and 3.72% higher than its ATL of $1.85 on Jul 7, 2023. 

Despite the ongoing controversies and the NFT market crash, many experts remain relatively optimistic on APE’s future. 

 a minimum increase of up to $4.57 in 2025, hitting a maximum of $5.59 and followed by a sharp rise to exceed $30 by 2030. DigitalCoinPrice anticipates a 

, reaching a maximum of $7.02 in 2025 and potentially crossing $20 in 2030.

Taking into account all this information begs the question: Is ApeCoin still a good investment? 

While ApeCoin may have had a stellar debut, garnering interest and support from many celebrities, its sky-high value was unable to hold. Furthermore, the recent price crash illustrates its inability to sustain its long-term value and suggests that ApeCoin is more of a hype. Hence, despite relatively favorable outlooks regarding its price prediction, it may not be a good investment in the long run. Specifically, as the controversies surrounding its associated NFT continue to swirl, ApeCoin’s future will remain murky.

Even as the ApeCoin DAO attempts to add more utility to the token by creating the Otherside metaverse, its exact use cases remain unclear, even within the metaverse game. As the metaverse continues to evolve, however, and the token's use cases begin to take shape, ApeCoin may still see positive growth in value should the metaverse truly gain traction. However, this in turn depends on whether its flagship NFT, BAYC, can pull through the current NFT market slump.

Investors who are bullish on the NFT comeback and willing to take risks might still consider ApeCoin a good investment — since, after all, BAYC is still far more valuable than countless other NFTs.

Note that these views should not be taken as investment advice. It’s crucial to do your own research before investing in volatile 

Anyone can buy APE from reputable crypto exchanges like Bybit. There are various ways to trade ApeCoin on Bybit. You can buy APE as a 

) to trade APE as a Spot pair, and USDT (

) to trade APE as a Perpetual Contract. When you trade APE as Perpetual Contract, you can go long or short on APE, using USDT as a margin, with no expiration date.

When you trade APE as a Leveraged Token, you can choose to long (

) it. There are two methods for trading APE as a Leveraged Token: You can buy and sell APE on the Spot market, or subscribe or redeem according to the Perpetual Contract position of the underlying APE tokens in the basket. 

Each Leveraged Token represents a basket of Perpetual Contract positions, so when you buy a Leveraged Token, you're purchasing a basket of the underlying Perpetual Contract assets. This means Leveraged Tokens are useful as short-term investments in trending markets. A Leveraged Token doesn’t require margin or collateral, and since it’s under the Spot category, there’s no risk of liquidation.

ApeCoin's recent controversies and price drop makes it an unappealing investment for now. Still, if there’s a resurgence in the popularity of NFTs (BAYC in particular), ApeCoin would likely see a rebound in its price as well. Investors comfortable with taking risks might view this as an opportune moment to buy ApeCoin. Nonetheless, risk-averse investors are advised to exercise caution and consider avoiding this token.

What Is ApeCoin (APE): The Rise and Fall of the BAYC Token

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