After the NFT crash a few years ago, ApeCoin was one of the most affected projects and seems to have disappeared from the sights of most cryptocurrency users.
However, the protocol made a huge announcement a few hours ago that fueled an incredible rally for its native token, pushing the price above the coveted $1 level.
$APE || NFT season begins!
and $APE The booming NFT season is about to begin.
Pay attention to NFTs. Billions of dollars will flow in.
similar to $ALTS, #NFT Will bring generational wealth to patient peeps! @apecoin pic.twitter.com/RoH9yYgDTe
— Crypto Catalysts (@Crypt0Catalysts) October 20, 2024
Announcement of Apecoin
The team's statement in question highlighted the formal launch of the project Bridge. It works similar to other online crypto bridges, allowing users to connect to their wallets and exchange certain digital assets. At the time of writing these lines, the networks available on the bridge are ApeChain, Ethereum, and Arbitrum.
Once the new protocol features go live, investors will be able to earn native yield on several altcoins, including the native token APE, Ethereum (ETH), and several stablecoins.
The team also promised to launch a core user incentive program that should see the light of day by the end of Sunday.
The bridge is live.
Bring your tokens to ApeChain today and start earning native yield on APE, ETH, and various stablecoins.
Our official bridge can be found on the newly updated ApeChain website, as well as many partners and apps already available on APECHAIN.
— Apecoin (@apecoin) October 19, 2024
APE price hike
The news about the launch of the bridge caused massive hype among the X crypto community. Perhaps that is why native tokens have experienced the most impressive price increases recently.
APE had been struggling around $0.75 for the past few weeks, but it soared more than 66% after the announcement caught up with X. It has regained the $1 level and has continued to rise to a four-month high of $1.25.
APE's market capitalization has soared to over $900 million, allowing the asset to return to the top 100 largest cryptocurrencies.
Binance Free $600 (Exclusive to CryptoPotato): Receive an exclusive welcome offer of $600 on Binance when you register a new account using this link (Full details).
Exclusive offer for 2024 on BYDFi Exchange: Welcome Reward up to $2,888. Register using this link and open a 100 USDT-M position for free!
