The 24-hour increase exceeded 120%, and players who were once FOMO "bored apes" began to hype ApeChain.
Written by: Biteye core contributor Viee
Editor: Crush, core contributor of Biteye
If you have heard of the NFT "Boring Ape" (BAYC), which has long been ranked first in the last bull market, then you will definitely be curious about ApeChain.
Last Sunday, Bored Ape Yacht Club officially announced the launch of the ApeChain mainnet. The market responded positively and the price of $APE soared by more than 120% within 24 hours.
Bored Ape Yacht Club officially announces the launch of ApeChain mainnet
01 How is ApeChain’s performance after going online?
ApeChain is a Layer-2 network developed by ApeCoinDAO, built on top of Arbitrum Orbit, and is designed to support the ApeCoin ecosystem, centered around the Bored Ape (BAYC) community.
Its features include an “automatic income mode” that allows users to hold ApeCoin and trade and provide liquidity on the chain.
Currently, ApeChain has attracted a large number of active participation in applications, games and other projects, such as Ape Express, a meme coin issuance platform similar to Pump.fun, and Top Trader, a trading simulation game platform.
Ecological projects displayed on the ApeChain official website (https://apechain.com/)
The chain narrative is the focus of Greg Solano, one of the founders of Yuga Labs, after he re-assumed the position of CEO. After the new chain was launched, Degen players flocked in and began to hype the new chain Meme coin. Let's take a look at the performance of Apechain on the first day:
2640 tokens were created on the Ape Express platform
55 Meme coins successfully closed the internal market
7 Meme Coins with a Market Value of Over a Million Dollars Appear
Over 50m transaction volume
This performance is still quite good.
02 How do new players participate in ApeChain?
So do new players still have a chance now? The answer is: yes.
If new players want to enter the market now, the timing is not bad, because the first wave of PVP has ended, and the leading Meme has been stabilized. And according to the ecological introduction on the official website, in addition to the Meme infrastructure, many more games will be launched in the future.
Here is a detailed introduction on how to participate in ApeChain:
Cross-chain: The first step to a new chain is definitely cross-chain. ApeChain's gas fee coin is $Ape token. The official bridge (https://apechain.com/portal) currently supports Ethereum mainnet and Arbtrium, and can cross multiple tokens, but you need to pay attention to wear and tear. Currently, only $Ape cross-chain is wear-free. Stargate can be selected as a third-party bridge, but it only supports $Ape cross-chain.
Find Meme coins: If it is an internal market, you can find new and valuable Meme coins on Ape Express. If it is already on Dex, you can use Dexscrenner, select ApeChain, and you can see the popularity ranking of Meme coins on the current chain. It is not recommended to buy tokens with a relatively low market value.
Swap: Camelot is the mainstream Dex at present, and DYORSwap supports much fewer coins. After opening Camelot and selecting Apechain, the wallet will automatically add RPC. Just select the coin you want to buy and swap it directly.
$CURTIS token trading interface on Ape Express (not a recommendation, just an example)
In addition to playing Meme, Top Trader (@Toptrader_xyz) in the ApeChain ecosystem is also online. This is a platform that provides trading simulation. The gameplay is actually very simple:
Pay 10 $Ape to participate in the trading contest of the day.
You will get 10,000U game coins at the beginning, and then go to the currency supported by the trading platform, with a minimum leverage of 100 times and a maximum leverage of 1,000 times. If the game coins are used up, you can continue to buy tickets to get new game coins.
The top traders will share 50% of the competition prize pool.
Top Trader simulated trading interface, showing click on the lower left corner to pay 10 $Ape
If you are a very good trader, you can try to see if you can get rewards. If you are not a very good trader, you can also participate in the airdrop.
03 Risk Warning
The rapid rise of ApeChain has attracted widespread attention from the market. Although the current market response is very positive, there is still a gap between the demand side of ApeChain and mainstream public chains such as Ethereum and Solana.
Considering factors that affect long-term development, such as the number of coin holders and liquidity issues, does ApeChain have the potential to create a wealth effect? Or will it gradually cool down after the explosion? We still need to remain cautious about this.
