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Cryptocurrency News Articles
ApeCoin (APE) Jumps 107% Since ApeChain Launched on Sunday
Oct 22, 2024 at 01:03 am
This opens up a new utility APE, which can now be staked live on-chain in an automatic yield mode. The surge in activity on October 20, 2024
ApeCoin (APE) has soared by more than 100% since ApeChain went live on Sunday, unlocking a new utility for APE, which can now be staked live on-chain in an automatic yield mode.
The surge in activity on October 20, 2024, has seen ApeCoin print a massive daily green candle on price charts.
Yesterday, ApeCoin closed at $1.49, up 71% from an opening price of $0.87. On Monday, APE continued its upward journey to trade at $1.71 at the time of writing, according to CoinGecko.
ApeCoin's highest price this year was at $1.74 on Monday. ApeCoin also saw a massive 24-hour trading volume of $2,470,521,077.
APE’s 24-hour trading volume on Spot markets exceeds all major altcoins outside the TOP 5 by global market cap. Approaching $2.5 billion, ApeCoin's trading volume exceeds Ripple (XRP) and Cardano (ADA) combined. Dogecoin (DOGE) comes second with $2.07 billion. ApeCoin remained the top gainer among mid-cap altcoins on Monday with a hot streak of 25% gains in 24 hours.
What ApeChain Brings to ApeCoin's TableThe Yuga Labs-backed Layer-3 chain was chosen to be built on Arbitrum as a Layer-3 solution back in January 2024. The ApeCoin decentralized autonomous organization (DAO) voted to initiate works on the chain, initially choosing between Arbitrum and Polygon.
ApeChain's automatic staking yield mode goes beyond APE, also including ETH and top stablecoins via the ApeChain bridges. Another innovation in this brand-new blockchain is integration with the LayerZero omnichannel fungible token protocol, which facilitates moving in-app data between blockchains.
Another first night for ApeChain Memes saw huge success:– CURTIS the clear leader at $24M
BORED at $11.5M
CIF and DOOKEY in the $4M-$5M range
All with entries below $1M for those early to the chain
But ApeCoin may be the biggest winner - up 94% to $1.42
pic.twitter.com/K14tIsf0Pv
In addition, a flurry of blockchain games, decentralized applications (dApps), and meme coins are already seeing the light of day on Yuga Labs’ Layer-3 chain.
The chain saw meme coins like CURTIS and BORED breach past $10 million on day one, while Yuga’s Dookey Dash game-themed token garnered 59,29% in a 24-hour upswing to a $4 million market cap.
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