$APE
The sudden rise of ApeCoin (APE) may be related to the progress of ApeChain. ApeChain is a dedicated blockchain designed for the ApeCoin community to expand APE and support the growth of the ApeCoin ecosystem. ApeChain will be developed using Arbitrum technology and led by Horizen Labs for growth.
The ApeChain proposal mentioned that ApeChain will become an extension of the ApeCoin DAO community and quickly become the cornerstone of the Ape brand. The proposal also suggested that ApeChain should utilize $APE as a native Gas token, which may increase the utility and demand of APE. In addition, the launch of ApeChain may attract more developers and users to join the ApeCoin ecosystem, which may have a positive impact on the price of APE.
In addition, ApeChain's testnet Curtis was launched on July 16, marking an important progress in the ApeChain project. With the launch of the testnet and the expected launch of the mainnet, ApeChain may attract more attention and investment, which may also be a factor in the sudden increase in APE prices.
