Apeing is when a cryptocurrency trader buys a token shortly after the token project launch without conducting thorough research.
Apeing is when a cryptocurrency trader buys a token shortly after the token project launch without conducting thorough research, usually because they are fearful of missing out on potential gains that could be lost if they hesitate in order to conduct due diligence.
The term apeing became popular during the 2020 "DeFi Summer" when sudden and unannounced token project launches led to a small proportion of traders making significant profits from buying those project tokens within a very short time frame after the initial launch.
As stories of these substantial gains leaked onto social media, subsequent traders tried to emulate them by buying the tokens of any freshly launched project without conducting thorough research. This ‘low IQ’ approach to selecting tokens to buy is what gives apeing its name.
Author: Ross Middleton, co-founder and CFO at DeversiFi
Ross is the co-founder of DeversiFi, a layer 2 decentralized finance (DeFi) trading platform powered by StarkWare’s scalable technology. He is responsible for finances as well as looking after DeversiFi’s project partners and biggest customers.
Previous to DeversiFi, Ross worked at the Ethfinex and Bitfinex exchanges. Before joining crypto, Ross was a professional energy trader and analyst in London for ten years. He worked on global energy trading desks at companies such as Centrica, Gazprom and RWE to deploy funds into advanced proprietary fundamental-backed trading strategies. Outside of the trading world, he is a committed angel investor and Ironman triathlete. Ross brings a wealth of both non-traditional and traditional asset trading and commercial experience as well as connections to the alternative finance space. Ross holds a BSc in economics.