ApeCoin is up 31% in the past week, while everything else stayed flat...but why?
Typically, the more scarce something is, the more valuable it becomes.
Just look at:
Rolexes
Rare Pokemon Cards
The McRib (kind of joking, but also not)
The same concept is at work here.
ApeCoin holders will soon be able to stake (or 'lock up') their coins and earn interest on them.
Staking takes coins off the market → which lowers the circulating supply → making ApeCoin more scarce.
Increased scarcity + the ability to earn yield on coins = heightened interest/investment.
And good news, in a time like this, goes a long way - ApeCoin has gained ~$800M in value since mid November!
Staking is due to launch on Dec 5th, albeit in limited regions (ApeCoin staking won't be available in the US due to regulatory concerns).
Alright, that's it - now you know!
