ApeCoin (APE) Explodes Over 135% Following Launch of Ecosystem’s New Blockchain
One altcoin running on the Ethereum (ETH) network is seeing massive gains after a new blockchain launched in its ecosystem. ApeCoin (APE), the digital asset associated with the Bored Ape Yacht Club (BAYC) non-fungible token (NFT) collection, soared to $1.74 on Monday, a 135% jump in value form Saturday. APE began to rally as Apechain launched on Sunday. Apechain, a project led by Yuga Labs, which also developed APE, allows staking of ApeCoin tokens and expands the Bored Ape Yacht Club ecosystem. Says pseudonymous analyst Elena, “Apechain facilitates NFT minting, trading and dApps (decentralized apps) while providing a seamless experience for users. What is unique about ApeChain? ApeChain offers several benefits: Scalability: addresses congestion issues seen in other blockchains. Incentives: offers token rewards, airdrops, and staking. Integration: fully compatible with the APE token.” Ahead of the launch, Bored Ape co-founder Wylie Aronow, also...