ApeCoin (APE) Surges Over 100% Following Major Technological Advancements
ApeCoin (APE), a key asset within the Yuga Labs ecosystem, has experienced a staggering price increase of over 100% today. This surge is attributed to the recent launch of cutting-edge technological updates and incentive programs designed to boost user engagement and expand the token’s utility across its network.
ApeCoin Price Soars Due to LayerZero Integration
APE recently upgraded its smart contracts to integrate with LayerZero’s Omnichain Fungible Token (OFT) standard. This integration allows APE to function not only as a utility and governance token but also as the native gas token on ApeChain.
Moreover, this development enables APE to transfer seamlessly between ApeChain, Ethereum, and Arbitrum, setting a new benchmark for token interoperability and functionality.
In addition to this, ApeCoin has introduced a Native Yield mechanism developed in collaboration with Decent.xyz. This feature allows ApeCoin holders to automatically accrue yields on their tokens without requiring manual intervention. These yields are distributed to all externally owned accounts (EOAs) and are credited directly to the user’s balance with each new block.
Market Response and Liquidity Growth
The market has responded enthusiastically to these updates, with Ape’s trading volume skyrocketing by over 6,400%, reaching an impressive $1.84 billion. This positive sentiment, combined with the price surge, has propelled ApeCoin’s market capitalization above $1 billion, representing a more than 100% increase in just 24 hours.
Additionally, liquidity on ApeChain has received a significant boost with the introduction of new bridges that facilitate the seamless migration of APE, ETH, and stablecoins across various networks. This has improved asset movement fluidity, drawing increased interest from both developers and investors.
ApeChain’s performance has also been robust following these upgrades. In just the first 12 hours, the network saw over $25 million in volume traded, the creation of 148 liquidity pools, and the completion of 62,700 transactions—demonstrating strong engagement within the ecosystem.
Expanding Utility and New Incentives
In parallel with these technological upgrades, APE has announced an upcoming user incentive program. Although details are yet to be revealed, the program is expected to further enhance ApeCoin’s value.
By expanding beyond its original transactional purposes, ApeCoin is now playing a critical role in governance through the ApeCoin DAO and offering broader usability, including real-world transactions. These improvements align the token more closely with the evolving needs of its community.
As of the time of writing, ApeCoin is trading at $1.51, reflecting a significant 103.21% increase in the past 24 hours.
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