The meme effect can no longer be ignored and is spreading to other public chains. Those who get the meme get the traffic and the funds.
The most concerned thing in the market since yesterday is that the price of $APE has doubled. At first glance, it seems to be driven by the overall rise of the game sector, but how come it has doubled while rising? After checking social media, I found that the meme hotspot that was still on the goat and goose yesterday has shifted to Apechain today.
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Yes, Apechain has also decided to start Meme Pump.
ApeCoin ($APE) is an ecological currency released by the once popular NFT project, Bored Ape (BAYC). Although it achieved impressive results at the beginning of its release, with the collapse of the NFT market in the past two years, ApeCoin ($APE) has almost disappeared from the investors’ vision.
However, after several years of NFT market downturn, the ApeCoin team released a major announcement a few hours ago, which directly pushed the price of $APE up by more than 100%. Not only did it bring $APE back into the spotlight of the market, it was also seen as a major boost to saving the NFT market.
Behind the surge in $APE: ApeChain is officially launched
According to data from Coingecko, ApeCoin ($APE) has skyrocketed from a low of $0.7 to a high of $1.75 in the past 24 hours, with the maximum increase exceeding 120%. As of writing, the price is $1.5254.
The reason behind the surge in ApeCoin ($APE) is that the team officially announced the launch of its exclusive blockchain - ApeChain.
According to the team announcement, ApeChain uses $APE coins as the native Gas token of the entire ApeChain ecosystem. It not only allows users to transfer $APE coins between ApeChain and blockchains such as Ethereum and Arbitrum through cross-chain bridges, but also provides non-staking native income models for multiple tokens.
The launch of ApeChain not only means a technological breakthrough, but is also likely to become an important driving force for the resurgence of the NFT market. According to Coingecko data, ApeChain achieved a transaction volume of more than 5 million US dollars in just 24 hours, and the number of active users also soared from 83 to 3,235.
What is ApeChain? 3 major features at a glance
What is ApeChain? What are its features? Let us take an in-depth look at the prospects, development and future of ApeChain.
ApeChain adopts the LayerZero Omnichain Fungible Token (OFT) standard, allowing $APE to be transferred seamlessly across multiple blockchains.
In addition, the team has partnered with DecentXYZ to launch a new native yield mechanism that allows holders to automatically earn token yields without having to manually stake or claim rewards, which is undoubtedly an attractive feature for investors who want to hold ApeCoin for the long term.
In order to keep up with the meme craze and rapidly expand the on-chain ecosystem, ApeChain has also launched an on-chain one-click coin issuance platform supported by ApeCoin ($APE) - Ape Express, which is similar in concept to the well-known meme coin issuance platform pump. fun.
According to official introduction, users can publish a meme coin on Ape Express in "only one minute", further increasing the demand for $APE tokens.
Can Apechain lead to the resurgence of NFT?
From the low point of the NFT market to its current surge, the resurgence of ApeCoin ($APE) has undoubtedly provided a good benchmark for other NFT projects that are struggling or planning to launch - to create their own chain and ecosystem. The launch of ApeChain has not only improved the technical level of ApeCoin, but also injected new vitality into the NFT market.
According to data from NFT trading platform Blur, Bored Ape (BAYC)’s two main NFT series, (Bored Ape Yacht Club) and (Mutant Ape Yacht Club), have risen 14.45% and 12.7% in the past 24 hours.
With the expansion of the ApeCoin ecosystem and the smooth operation of ApeChain on Arbitrum Orbit, many people are looking forward to the addition of more projects and applications in the future. ApeChain can become the key to the recovery of the NFT market.
Ape Express Other Popular Players Introduction
Curtis ($CURTIS) - Founder of BAYC
24H trading volume: $12.3 million
Current market value: $24 million
Peak market value: $29 million
BORED ($BORED) - double OG for name and icon
24H trading volume: $2.4 million
Current market value: $15.58 million
Peak market value: $18.5 million
Crypto Is Fun ($CIF) - The First Memecoin on Apechain
24H trading volume: $4 million
Current market value: $8.5 million
Peak market value: $3.78 million
