The post ApeCoin’s 118% Price Jump: What’s Behind the Sudden Surge? appeared first on Coinpedia Fintech News
ApeCoin has seen an explosive rise, jumping by 118% in just one day. The main reason? ApeChain. This brand-new Layer-3 blockchain, built on Arbitrum Orbit, is the talk of the crypto space. But that’s not the only thing driving this excitement—there’s more to the story. Let’s dig into what’s happening and why ApeCoin is making such big waves in the market.
ApeChain Launch Causes ApeCoin to Skyrocket
The launch of ApeChain had an immediate impact on the market. In just three hours, ApeChain recorded $5 million in trading volume, according to Camelot DEX. The buzz around this new blockchain sent ApeCoin’s price soaring. Its total on-chain volume surged by almost 3000%, nearing $1 billion. These numbers show how quickly the market is responding, and it’s clear that ApeChain is already making a huge splash.
Passive Income with ApeCoin?
A big feature that’s grabbing attention is the Automatic Yield Mode. With this, ApeCoin holders can earn rewards without having to stake their coins actively. It’s a “set it and forget it” type of feature, which could bring in more investors who like the idea of passive income. Since ApeChain launched, the number of users shot up from just 83 to more than 3,000. This kind of growth hints that people are excited about what’s to come.
What to Expect Next
Looking ahead, ApeCoin could have even more room to grow. The token has broken out of a downward trendline that held it back since June. If this momentum keeps up, ApeCoin might go past $1.47 and even head towards $2. However, it’s important to keep an eye on factors like long-term holders selling and Bitcoin’s performance. At the moment, ApeCoin is trading at $1.51, and the market is eager to see where it will go from here.