ApeCoin (APE) in pump of +100% thanks to the launch of ApeChain

ApeCoin (APE) has recorded a pump of +100% in the last seven days, thanks to the launch of the highly anticipated ApeChain blockchain. In fact, yesterday, Yuga Labs, the company behind Bored Ape Yacht Club (BAYC) and ApeCoin, gave the green light not only to ApeChain but also to the bridges that will allow staking.

ApeCoin (APE): the price soars after the launch of the ApeChain blockchain

ApeCoin (APE) is experiencing a true bull, with the price soaring over 100% in the last seven days. The reason？ Undoubtedly the launch of the highly anticipated blockchain of ApeChain, finally made public as of yesterday.

In fact, at the time of writing, APE is worth $1.55, in a pump of +17% compared to yesterday and +106% compared to a week ago.

APE is the ERC-20 token associated with the Bored Ape Yacht Club (BAYC) and used for governance and transactions in the ApeCoin ecosystem. Behind APE, ApeCoin, and BAYC is Yuga Labs, the company that started the dance to ApeChain.

Along with the launch of the new blockchain, the bridges have also become operational that allow users to transfer their tokens to ApeChain. At the same time, it will be possible for users to stake on the new blockchain, automatically earning a yield on APE, ETH, and stablecoin.

ApeCoin (APE): the new ApeChain blockchain also hosts Beeple

The price of ApeCoin (APE) reflects not only the enormous interest of crypto investors, but also the attraction from those who will use ApeChain.

Among others, it emerged that the famous crypto artist of Beeple has already minted his new NFT right on ApeChain:

To clarify the ideas, instead, the analyst with the pseudonym Elena, described on X what ApeChain is and what it is used for. Here is part of the text:

Not only that, the rally of the APE price could also be fueled by the launch of LayerZero on the ApeChain mainnet. The interoperability protocol allows applications to move data between blockchains.

The new price of APE had not been seen since April

The current price of APE has not been seen since last April 2024, since it decreased to reach a minimum price of $0.50 in August, then rose again but remained below $1.50.

In reality, in the first four months of this current year, APE started from the price of $1.61, riding the bullish crypto wave and reached its peak in March, at the price of $2.40.

After that moment, ApeCoin started to see the bearish market, especially after unlocking 15.6 million APE last March 16.

At that moment, the unlocking represented 2.55% of the circulating supply of APE with a total value of approximately 38.2 million dollars.