APE options demand skyrocketed on crypto derivatives exchange PowerTrade, with open interest (OI) in APE options surging by an impressive 800% in a single day, reaching a significant $39.45 million. Call options, which are derivatives wagering on a price increase, comprised over 80% of the OI, with the bulk of contracts set to expire on March 22 and 25. Notably, strike prices extended up to $2.2. This surge in demand for APE options followed a substantial price increase of over 100% for APE on March 20 (KST) after the successful launch of its dedicated mainnet, ApeChain. This launch marked a significant milestone for ApeCoin, which is the native token associated with the popular Bored Ape Yacht Club (BAYC) non-fungible token (NFT) collection. Analysts attribute this rise in demand to growing market sentiment and anticipation surrounding the potential utility and value of ApeCoin within the Ape ecosystem. The launch of ApeChain is expected to facilitate the development and launch of decentralized applications (dApps) and decentralized finance (DeFi) services within the Ape ecosystem, further driving demand for APE and its derivatives. As the Ape ecosystem continues to evolve, it is likely that options demand for APE will remain robust, especially with the potential launch of additional utility and value-enhancing features for APE holders.