[Analysis of the reasons why the price of ApeCoin (APE) increased by 66% daily]

After the NFT market experienced a downturn, ApeCoin, one of the more affected projects, seems to have faded from the sight of many cryptocurrency investors. However, just a few hours ago, the project released a major news that triggered a significant increase in its native token APE, with the price breaking through the $1 mark.

The core content of this announcement is the official launch of the project’s cross-chain function, which is similar to bridging tools for other cryptocurrencies, allowing users to connect their wallets and exchange digital assets. Currently, networks supported by this feature include ApeChain, Ethereum and Arbitrum.

With the launch of this feature, investors will now be able to earn native income from a variety of altcoins, including APE, Ethereum (ETH), and some stablecoins. In addition, the ApeCoin team has also promised to launch a stimulus package for core users, which is expected to be announced by Sunday.

The news spread quickly among the crypto community and attracted widespread attention. Affected by this, the price of APE surged by more than 66%, from US$0.75 to US$1.25, hitting a four-month high. Its market value also exceeded US$900 million, returning to the top 100 cryptocurrency market capitalizations. .