{"id":39916,"date":"2024-10-21T11:11:37","date_gmt":"2024-10-21T11:11:37","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/ape-price-surges-after-yuga-labs-launches-apechain\/"},"modified":"2024-10-21T11:11:37","modified_gmt":"2024-10-21T11:11:37","slug":"ape-price-surges-after-yuga-labs-launches-apechain","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/ape-price-surges-after-yuga-labs-launches-apechain\/","title":{"rendered":"APE price surges after Yuga Labs launches ApeChain"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1648835280868-40cf4446-e9c6-4b9a-acee-a5556d979c08-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1648835280868-40cf4446-e9c6-4b9a-acee-a5556d979c08-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1648835280868-40cf4446-e9c6-4b9a-acee-a5556d979c08-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1648835280868-40cf4446-e9c6-4b9a-acee-a5556d979c08-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>APE price reached highs last seen in April, surging more than 15% in 24 hours to break to $1.66.<\/li>\n<li>The ApeCoin price was up more than 100% in the past week amid news around the launch of ApeChain.<\/li>\n<\/ul>\n<p><a href=\"https:\/\/coinjournal.net\/apecoin\/\">ApeCoin (APE)<\/a>, the governance and utility token of the ApeCoin web3 ecosystem, rose more to its highest price level since early April.<\/p>\n<p>The APE token, related to the Bored Ape Yacht Club (BAYC) ecosystem, reached intraday highs of $1.66 to see its gains over the past week top 100%. ApeCoin last traded around these levels in April after Bitcoin led cryptocurrencies higher in the rally to above $73k.<\/p>\n<h2>Why is ApeCoin price surging?<\/h2>\n<p>APE\u2019s gains came as BTC surged to above $69,300 over the weekend. However, there\u2019s another catalyst that looked to have been at play for ApeCoin price.<\/p>\n<p>That\u2019s the launch of ApeChain, a blockchain network offering a layer-3 chain on Arbitrum One. Yuga Labs, the developer of BAYC, announced ApeChain\u2019s debut on Oct. 20.<\/p>\n<p>Horizen Labs and OffChain Labs <a href=\"https:\/\/coinjournal.net\/news\/horizen-labs-offchain-labs-propose-ape-powered-apechain-on-arbitrum\/\">proposed the launch of ApeChain<\/a> in December 2023. Debut for the new blockchain network brings NFTs, trading and decentralised applications to APE token holders.<\/p>\n<p>ApeChain bridge is also live, which means holders can transfer APE to ApeChain to earn staking yield. Support includes APE, Ether (ETH) and stablecoins. Meanwhile, <a href=\"https:\/\/x.com\/LayerZero_Core\/status\/1848074896892379598\" target=\"_blank\" rel=\"noopener\">integration with LayerZero<\/a> on the ApeChain mainnet brings the benefits of cross-chain transfers and interoperability to the community.<\/p>\n<p>The APE token traded around $1.53 at the time of writing, about 15% up in the past 24 hours. It reached its all-time of $26.70 in April 2022, which puts the current price about 94% off the all-time peak.<\/p>\n<figure id=\"attachment_239471\" aria-describedby=\"caption-attachment-239471\" class=\"wp-caption alignnone\"><img loading=\"lazy\" fetchpriority=\"high\" decoding=\"async\" data-source=\"CoinJournal\" class=\"wp-image-239471 size-full\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2024\/10\/ape-chart-coinmarketcap.png\" alt=\"\" width=\"1200\" height=\"800\"\/><figcaption id=\"caption-attachment-239471\" class=\"wp-caption-text\">APE price chart on <a href=\"https:\/\/coinmarketcap.com\/currencies\/apecoin-ape\/\" target=\"_blank\" rel=\"noopener\">CoinMarketCap<\/a><\/figcaption><\/figure>\n<p>However, APE\/USD has surged more than 215% since dropping to lows of $0.482 on August 5, 2024 when most cryptocurrencies crashed alongside BTC.<\/p>\n<p>The potential ascending triangle pattern breakout could nonetheless provide bulls with new impetus.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/ape-price-surges-after-yuga-labs-launches-apechain\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) APE price reached highs last seen in April, surging more than 15% in 24 hours to break to $1.66. The ApeCoin price was up more than 100% in the past week amid news around the launch of ApeChain. ApeCoin (APE), the [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":39917,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/39916"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=39916"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/39916\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/39917"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=39916"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=39916"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=39916"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}