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ApeCoin has unveiled the Blueprint for ApeChain, highlighting its focus on enhancing the blockchain experience through content, tools, and distribution.

Bored Ape Yacht Club-inspired crypto ecosystem ApeCoin has unveiled the “Blueprint” for its layer-2 solution ApeChain, marking a key advancement in its blockchain strategy by focusing on content, tools, and distribution to elevate user and developer experiences.

In a press release shared with crypto.news, ApeCoin outlined the first phase of ApeChain’s rollout, which includes prioritizing content partners, developing a user-friendly ecosystem site, and providing robust developer tools.

ApeChain, per Greg Solano, chief executive of Yuga Labs, is prioritizing “killer day one content partners” in an effort to find the “coolest stuff on the chain easy.” The network will also focus on incentives and distribution channels “that help creators get noticed,” Solano added.

To achieve this goal, ApeChain collaborated with web3 firms like Halliday, Decent, and Privy to streamline onboarding and fiat onramps via the ApeChain Portal.

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Another component of the ApeChain would enable users to bet on events or individuals via the so-called Reboot Protocol in addition to the Native Yield system developed for withdrawals of assets like ApeCoin ApeCoin
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ApeCoin and Ethereum (ETH). ApeCoin says ApeChain’s strategy aligns with Arbitrum milestones, including the integration of Stylus, which allows blockchain developers to build smart contracts using WebAssembly-compatible languages.As crypto.news reported earlier, the ApeCoin DAO community greenlit the development of ApeChain on Arbitrum in February, with backing from Horizen Labs. The technical roadmap indicates that APE tokens will serve as both the gas and governance token for the new network. A few months later, in July, the ApeChain network debuted testnet named Curtis.Read more:
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Experts weigh in on whether Bitcoin can break free from September’s be Bitcoin closed August in red, but experts are divided on whether September could bring a recovery, with some pointing to macroeconomic shifts, potential rate cuts, and rising institutional interest as reasons for optimism.Coinglass data shows that, since 2013, Bitcoin Bitcoin btc -4.44%
Bitcoin has often recorded losses during September, making it the worst-performing month for the digital asset. On average, Bitcoin has dropped by -5.36% in September, with gains in only four of the past thirteen years. This consistent poor performance has made investors uneasy, fearing that the trend could persist in 2024. Yet, there are signs this September might break from tradition. Traders are anticipating that a potential interest rate cut by the Federal Reserve could increase demand for riskier assets like Bitcoin. At the same time, institutional interest is higher than before, driven by the approval of spot Bitcoin ETFs in January. Adding to this sanguinity, Bitcoin’s hashrate has hit an all-time high of 746 EH/s, signaling a potentially bullish shift despite recent price fluctuations.
Nevertheless, skepticism remains among some analysts who believe the bearish trend could still prevail. Rate cuts and market sentiment
Georgii Verbitskii, Founder of TYMIO, suggests that a rate cut could push Bitcoin to test the upper end of its current trading range. He told crypto.news that if central banks go ahead with the anticipated rate cuts, Bitcoin might draw more investors seeking a hedge against inflation.

“Given that [Bitcoin] has been trading sideways for the past six months, a big breakout before the year’s conclusion may be logical.”

He added that pro-crypto legislative moves in the United States might further elevate market sentiment and drive investment.

Meanwhile, Casey Grooms, co-founder of Soulbound, underlined that Bitcoin’s recent price action has been influenced by high macroeconomic uncertainty, with a critical pivot in Federal interest rates shaping market sentiment.

Grooms pointed to the Fed’s preferred inflation measure, the Personal Consumption Expenditures (PCE) index, which remains steady at 2.5%.

“With the closeness to the basic target of 2%, the interest rate cut pivot may happen sooner than expected,” Grooms told crypto.news.

He added that while the Federal Reserve is closely watched, other central banks, like the Bank of England and the Bank of Canada, are already cutting rates. If this trend continues, it could boost global liquidity, weaken fiat currencies, and make Bitcoin more attractive as a store of value.

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Bitcoin ETFs as a potential catalyst for recovery
In contrast, Jonathan Hargreaves, Global Head of Business Development & ESG at Elastos, maintained a more measured outlook. He pointed out that, although stronger macroeconomic factors and new ETF developments could support Bitcoin, September has often been a month of mixed signals, with alternating phases of growth and decline. As such, he expects September to start on a bearish note but hopes for a rebound in the final quarter.

Bing Wang, Head of Legal at BasedVC, suggested that this year’s cycle could diverge from past patterns due to the ongoing inflow of capital into Bitcoin Spot ETFs and the anticipated Federal Reserve rate cut.

“If institutional capital continues to flow into Bitcoin ETFs, BTC price could sustain above key support at $60,000,” Wang told crypto.news. Similarly, QCP Capital analysts indicated earlier that Bitcoin could be looking for support, but at a lower range, around $54,000, before any significant rebound might occur.

Wang also pointed to a drop in whale transactions—large transfers over $100,000—signifying that major holders are clasping onto their Bitcoin.

“They are likely holding on to their BTC, which implies there is likelihood of gains in Bitcoin this September and beyond. However, large scale profit-taking could push BTC lower, so keep that in mind.”

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In a bold move blending cryptocurrency and hospitality, the ApeCoin decentralized autonomous organization (DAO) has voted overwhelmingly in favor of opening an APE-themed hotel in central Bangkok. The proposal, known as AIP-448, has garnered significant support, with over 91% of votes cast in favor of the project.
Strong Community Support
Voting on the proposal began on July 18, and as of now, 4.6 million APE tokens have been cast in favor, compared to 411,000 APE tokens against the initiative. The opposition constitutes just 8.16% of the total votes, highlighting strong community backing for the hotel’s launch.

Integration of Multiple Sectors
AIP-448 aims to merge intellectual property applications, the hospitality sector, the arts, and cryptocurrency. The proposed hotel will feature a variety of ApeCoin-themed attractions and amenities, including:
APE-centric exhibitionsApe-themed barRooms decorated to represent different APE communitiesAPE-branded swimming poolDedicated exhibition areas
Funding and Benefits
The proposal seeks 410,000 APE from the ApeCoin ecosystem fund to realize the project, with voting set to conclude on July 31. The ApeCoin Hotel aims to promote ApeCoin, ApeChain, and various APE communities, providing numerous benefits to members. Key proposed benefits include:
Revenue Sharing: 50% of the revenue from themed rooms will go to the ApeCoin DAO treasury for one year.Payment Acceptance: The hotel will accept ApeCoin as a payment method, demonstrating the cryptocurrency’s real-world utility and potentially boosting its circulation.Community Initiatives: Plans include offering 50 complimentary nights of accommodation to APE holders and free access to certain hotel facilities for community members.
Unique Check-In Process
The proposal outlines a unique check-in process for ApeCoin holders, who will need to verify their ApeCoin Forum membership and wallet balance at the front desk. Guests are encouraged to share their experiences on social media platform X, with those seeking free stays required to post about their visit, including photos and positive feedback, to receive cashback.
Conclusion
The ApeCoin Hotel in Bangkok represents an innovative fusion of the crypto world with traditional hospitality, potentially setting a precedent for similar ventures in the future. As the voting period concludes on July 31, the ApeCoin community eagerly anticipates the final decision and the subsequent development of this pioneering project.
$APE #apecoin #crypto

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