Home,   Read,   News

ApeCoin Surges as ApeChain Launches and Enables Staking

The Bored Apes ecosystem has had a tough bear cycle, but ApeChain is bringing new attention to $APE.

Subscribe to Bankless or sign in

ApeChain, a Layer 3 from Apecoin Apecoin built on Arbitrum Arbitrum One, launched Sunday, adding NFT minting, trading, and staking support.

What's the scoop?

  • Token Value Increase: ApeCoin's price doubled over the weekend, crossing $1.5 for the first time since April, as APE can now be staked for rewards.
  • LayerZero LayerZero Integration: ApeChain integrated with LayerZero for cross-chain transfers.

Bankless Take: 

The launch of ApeChain marks a significant milestone for community-specific chains. While in many cases, these chains may just be attempts to maintain relevance or increase token utility, they do offer a custom environment to dedicate to particular user cases for the community, whether that be NFTs, gaming, or anime. Realistically, though, they currently just offer a new environment for speculation and, looking at DEGEN DEGEN chain’s rise and fall, will need to develop unique feature sets — beyond staking rewards — to stay relevant.


2
0
Uniswap Labs - Sponsor Image
Sponsored Uniswap Labs Unichain is live! Bridge & swap with Uniswap Labs' web app or wallet.
In The Article
Apecoin Apecoin Arbitrum Arbitrum LayerZero LayerZero DEGEN DEGEN
David C

Written by David C

369 Articles • View all      

David is a writer/analyst at Bankless. Prior to joining Bankless, he worked for a series of early-stage crypto startups and on grants from the Ethereum, Solana, and Urbit Foundations. He graduated from Skidmore College in New York. He currently lives in the Midwest and enjoys NFTs, but no longer participates in them.

No Responses
Search Bankless