Headline: Cryptocurrency Surges by 150% in Three Days, Energizes the Market
ApeCoin (APE) experienced a significant surge following the launch of the new ApeCoin ecosystem blockchain network, ApeChain, led by Yuga Labs. The APE token doubled in value over the weekend, reaching its highest level in six months at $1.75 and surpassing a market capitalization of $1.1 billion. This rise occurred as cryptocurrency investors responded positively to the innovations offered by ApeChain. APE, which traded at $0.70 on Friday, posted a three-day increase of 150%.
ApeChain introduces a new automated yield mode that allows users to earn passive income by staking APE tokens. Developed on Arbitrum One, the Layer-3 network facilitates the use of non-fungible tokens (NFTs), supporting transactions such as minting and trading. Additionally, new bridges enable the transfer of tokens like APE, Wrapped Ethereum (WETH), USD Coin (USDC), Tether (USDT), and Dai (DAI) between ApeChain, Ethereum, and Arbitrum networks. The ApeCoin ecosystem is expanding with new features. The APE token continues to play a significant role in Yuga Labs-linked NFT collections and other projects. As ApeChain's native gas token, APE is used for transaction fees, voting within the ApeCoin DAO, and real-world purchases. Meanwhile, the integration of the LayerZero Omnichain Fungible Token (OFT) standard has increased the efficiency of token transactions.
On the X platform, investors heightened interest in the cryptocurrency asset after ApeChain's launch, anticipating significant gains for APE. ApeCoin's rapid rise stands out as a notable development in the cryptocurrency market, continuing to offer new opportunities for investors.
APE doubled in value over the weekend, starting at $0.73 and closing the week at $1.49. The upward trend for APE continued into the new week, with the cryptocurrency rising another 15% today to reach $1.753. A similar move came from Uniswap. In addition to this significant development, another major step in the decentralized finance world came from Uniswap Labs. Uniswap launched Unichain, a new layer-2 solution based on Ethereum, aimed at reducing Ethereum's transaction costs and increasing liquidity. The value of the UNI token increased with this launch, contributing to the rise in activities within the Uniswap ecosystem. Unichain is expected to transition to the mainnet by the end of the year following its testing phase.