Is it a Good Time to Purchase ApeCoin as its Price Soars by 118
Story Highlights
ApeCoin’s value skyrocketed by 118% due to the launch of ApeChain, a new Layer-3 blockchain.
ApeChain quickly gained traction, with $5 million in trading volume and a surge in ApeCoin’s total on-chain volume.
The Automatic Yield Mode and increased user base indicate ApeCoin’s potential for further growth.
ApeCoin has seen an incredible 118% jump in just 24 hours, thanks to the launch of ApeChain. This new Layer-3 blockchain, built on Arbitrum Orbit, is generating a lot of buzz in the crypto world. But the excitement goes beyond just this launch—there’s much more behind ApeCoin’s impressive rise.
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Let’s explore what’s happening and why ApeCoin is making such big waves in the market.
ApeChain’s Impact: $5 Million in Just Three Hours
The launch of ApeChain quickly shook up the market. Within the first three hours, it recorded an impressive $5 million in trading volume, according to Camelot DEX. The buzz surrounding this blockchain drove ApeCoin’s price up significantly, with its on-chain volume skyrocketing by nearly 3,000%, nearing the $1 billion mark. These remarkable figures show how rapidly the market is responding, indicating that ApeChain is already making a major impact.
Coingecko data shows that the price of ApeCoin has soared 118% in the past 24 hours. ApeChain was launched today and a large number of memecoins have been created on ApeChain. ApeChain is an Arbitrum Orbit L3 blockchain. Through the Automatic Yield Mode, users holding ApeCoin on…
— Wu Blockchain (@WuBlockchain)
October 20, 2024
Passive Income with ApeCoin?
One key feature attracting attention is Automatic Yield Mode. This allows ApeCoin holders to earn rewards without actively staking their coins. It’s a “set it and forget it” option that could draw in more investors interested in passive income. Since the launch of ApeChain, the number of users has jumped from just 83 to over 3,000, suggesting that people are excited about the opportunities ahead.
Over the last few months we’ve been highlighting integrations from industry leading protocols ON APECHAIN, but there’s more…
Our commitment to bringing distribution opportunities to the community means worldwide visibility for developers and creators in the APE ecosystem.
— ApeCoin (@apecoin)
October 19, 2024
What’s Next for ApeCoin? Price Targets and Market Factors
Looking ahead,
ApeCoin
may have even more potential for growth. The token has broken free from a downward trendline that held it back since June. If this momentum continues, ApeCoin could move past the $1.47 mark and aim for $2. However, it’s crucial to keep an eye on factors like long-term holders selling their assets and Bitcoin’s performance. Currently trading at $1.51, the market is eager to see where ApeCoin will go next.
Are you as excited about ApeCoin’s future as we are? Tell us!
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