Why Is The ApeCoin Price Up 100% Today?
ApeCoin (APE), a fundamental asset within the Yuga Labs ecosystem, has witnessed a remarkable price surge of over 100% today. This increase in value is attributed to the recent launch of new technological advancements and incentive programs that will enhance user engagement and expand utility across its network.
ApeCoin Price Skyrockets Due to LayerZero Integration
ApeCoin has recently upgraded its smart contract to integrate with Layer Zero’s Omnichain Fungible Token (OFT) standard. This development allows APE to function as a utility and governance token and as the native gas on its blockchain, ApeChain.
More so, the integration ensures that APE can transfer across ApeChain, Ethereum, and Arbitrum. This sets a new standard for token interoperability and functionality.
Moreover, the introduction of a Native Yield mechanism, developed in collaboration with Decent.xyz, is another notable enhancement. It enables ApeCoin holders to automatically earn yields on their tokens without manual intervention.
This feature is the default for all externally owned accounts (EOAs), where yields accrued are added directly to the user’s balance with each new block.
Market Response and Liquidity Boost
The market has responded positively to these updates, with ApeCoin’s trading volume surging over 6,400% to reach $1.84 billion. The positive market response and ApeCoin price surge is reflected in its market cap, which has crossed the $1 billion mark increasing over 100% in 24 hours.
In addition, the liquidity on ApeChain has been boosted by the introduction of bridges that facilitate the migration of APE, ETH, and various stablecoins between networks. This capability has enhanced the fluidity of asset movement, attracting both developers and investors to the ecosystem.
Similarly, ApeChain’s performance since the update has been impressive, with over $25 million in volume traded within the first 12 hours.
#Apecoin #APE #MemeCoinTrending #WhichMemeCoin? #SCRSpotTradingOnBinance $APE $BTC $BNB
