CandleFocus The ApeCoin Explosion: APE Price Surge Nears 100% In 1 Day
2024-10-20
Author: Content Editor
ApeCoin (APE) has experienced a significant price surge of over 85% in the past 24 hours, driven by several developments in its ecosystem. The transition of APE to ApeChain, where it serves as the native gas token, has reduced dependency on Ethereum and lowered transaction costs, increasing demand for APE. APE's adoption of the LayerZero Omnichain Fungible Token (OFT) standard allows it to be transferred across blockchains, making it more versatile and attracting more users. The introduction of native yield, which allows APE holders to earn yield automatically, has also contributed to the price surge. The ApeChain bridge has seen high traffic as users rush to take advantage of these new features, further driving APE's market momentum. APE's technical indicators support further price growth, and it is expected to continue climbing as more users migrate to ApeChain and utilize its native yield mechanism.
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