ApeCoin Doubles in Price as ApeChain Launches With Pump.fun Clone, ‘Top Trader’ Game
The post ApeCoin Doubles in Price as ApeChain Launches With Pump.fun Clone, ‘Top Trader’ Game appeared on BitcoinEthereumNews.com.
ApeChain, a new Ethereum layer-2 network, was launched by the ApeCoin DAO on Sunday at ApeFest Lisbon, leading to APE doubling in price. The anticipated mainnet launch of the Bored Ape Yacht Club-aligned network came with numerous apps and games, including a meme coin launchpad, a leverage trading simulator, and other games. Earlier this year, more than half of the ApeCoin DAO’s voting power went towards selecting Arbitrum technology to power the new scaling network—beating out other Ethereum scalers like Polygon and zkSync. This followed Bored Ape creator Yuga Labs publicly suggesting that the DAO should launch its own chain to avoid spiking Ethereum mainnet fees. Eight months later, ApeChain is finally live with abstracted account creation, gas-sponsored transactions, and the first use of LayerZero’s Omnichain Fungible Token (OFT)—a standard that allows for tokens to be sent across multiple blockchains. ApeCoin, now the native currency for ApeChain, more than doubled in price following the launch, jumping from a price of about $0.75 to a recent peak of $1.74 earlier Monday. It’s down to $1.48 as of this writing, but still represents a 96% jump over the past week at a market cap above $1 billion, according to CoinGecko. The earlier peak marked a six-month high for the beleaguered Bored Ape ecosystem token, which remains down 94% from its 2022 all-time high as of this writing. “ApeChain’s focus is beyond just the tech,” Yuga Labs Chief Product Officer Michael Figge, said in a release. “We are focused on two things: (1) making delightful experiences for us all to enjoy and (2) making the tools that create those experiences available to everybody on ApeChain.” Our latest game @toptrader_xyz launches tomorrow. It’s a competitive trading simulation game with daily tournaments. Winner takes home 50% of the prize pool. The first global tournament begins…
Filed under: News - @ October 22, 2024 8:27 pm