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    Home » ApeCoin Soars Following Apechain Launch Before Experiencing a Retraction
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    ApeCoin Soars Following Apechain Launch Before Experiencing a Retraction

    By adminOct. 23, 2024No Comments1 Min Read
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    ApeCoin Soars Following Apechain Launch Before Experiencing a Retraction
    ApeCoin Soars Following Apechain Launch Before Experiencing a Retraction
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    ApeCoin (APE), a token linked to the Bored Ape Yacht Club (BAYC) NFT collection, surged 135% to $1.74 on Monday following the launch of Apechain, a new blockchain in its ecosystem.
    Created by Yuga Labs, Apechain supports
    ApeCoin
    staking and broadens BAYC’s reach.
    A pseudonymous analyst
    highlighted
    Apechain’s unique features: scalability to reduce congestion, rewards and incentives like token staking and airdrops, and full integration with APE.
    Before the launch, BAYC co-founder Wylie Aronow
    expressed
    his vision for ApeChain as a creator-focused platform beyond just BAYC.
    READ MORE:


    Buenos Aires Embraces Blockchain for Digital Identities
    On Monday, Arkham Intelligence
    reported
    significant transfers of APE, with 3.289 million tokens (worth $5.13 million) sent to Wintermute’s trading platform, followed by a treasury transfer of 4.6 million APE ($6.95 million).
    Since Monday’s peak, ApeCoin has fallen to $1.23, a 16.4% drop over 24 hours.

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