ApeCoin (APE), the governance and utility token of the ApeCoin web3 ecosystem, has recently reached its highest price level since early April. The APE token, associated with the Bored Ape Yacht Club (BAYC) ecosystem, saw intraday highs of $1.66, marking a gain of over 100% in the past week. This surge coincided with Bitcoin's rise above $69,300. Another factor contributing to ApeCoin's price increase is the launch of ApeChain, a blockchain network built on Arbitrum One. ApeChain offers NFTs, trading, and decentralized applications to APE token holders, with a live bridge allowing for staking yield. Integration with LayerZero on the ApeChain mainnet enhances cross-chain transfers and interoperability. Despite trading around $1.53 currently, APE has shown significant growth from its low of $0.482 in August 2024, following a market crash. The potential breakout of an ascending triangle pattern could further boost APE/USD. Read more AI-generated news on: https://app.chaingpt.org/news